Are American Taxpayers Celebrating Today?


According to the Americans for Tax Reform, a non-profit lobbying, research, and educational organization which is working to fight tax increases of any kind, today, June 16, 2000, is National Cost of Government Day.

Similar to Tax Freedom Day, which is calculated each year by the Tax Foundation, and which commemorates the day on which Americans have paid off their annual income tax obligation to federal, state, and local governments, National Cost of Government Day celebrates the day on which the average taxpayer has earned enough in cumulative gross income to pay for his or her share of federal and state taxation, government deficit spending, plus the cost of regulation.

Regulatory costs include direct costs of implementing, enforcing, and complying with government regulations. It is estimated that federal regulatory costs alone come to nearly $5,000 per household, on top of the tax burden we all face.

The Americans for Tax Reform organization, which champions the concept of a flat tax and which is fighting to end the European Value Added Tax, has the support of 250 U.S. Representatives and Senators who have signed a pledge to oppose any effort to increase federal income taxes on individuals and businesses.

So, how are you going to celebrate National Cost of Government Day?

You may like these other stories...

By Cathy Stopyra and Todd SimmensUnderpayment interest, refund interest, and penalties charged to businesses are just a few of the considerations the IRS calculates when determining taxation for a given company. Though...
FASB mulling a revamped income statementDavid M. Katz of CFO wrote on Tuesday that the Financial Accounting Standards Board (FASB) is in the early stages of researching whether to launch a project aimed at improving and...
Renaissance avoided more than $6 billion tax, report saysThe Senate Permanent Subcommittee on Investigations said on Monday that a Renaissance Technologies LLC hedge fund’s investors probably avoided more than $6...

Upcoming CPE Webinars

Jul 31
In this session Excel expert David Ringstrom helps beginners get up to speed in Microsoft Excel. However, even experienced Excel users will learn some new tricks, particularly when David discusses under-utilized aspects of Excel.
Aug 5
This webcast will focus on accounting and disclosure policies for various types of consolidations and business combinations.
Aug 20
In this session we'll review best practices for how to generate interest in your firm’s services.