Yesterday Was Tax Freedom Day!
I was surprised to learn that April 13 was 2009's Tax Freedom Day.
What is that? It's the day the average American is now working for himself. Up to this point, from January 1 through April 13, every cent you earned was committed to paying taxes.
The good news is, this Tax Freedom Day comes 8 days earlier than last year's Day. The bad news?
(1) the recession has reduced tax collections even faster than it has reduced income, and
(2) the stimulus package includes large temporary tax cuts for 2009 and 2010. Nevertheless, Americans will pay more in taxes than they will spend on food, clothing and housing combined.
Does anybody think it just that we spend more on taxes than food, clothing and housing combined? Please chime in if you do.
Again, this surprised me. The conventional wisdom is that when Democrats take office, taxes go up, right?
Oh, right. Smoke & mirrors. A shell game. Deficit spending. That which made Ronald Reagan a criminal. That which the glorious Clinton Administration didn't engage in. That which Democrats so recently campaigned against. Any cognitive dissonance, Democrats? Or, is all justified when the a guy wearing blue does it?