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?
Voice of the Editor
Which isn’t completely true. I mean, occasionally I drop by when I manage to sneak out of the nonstop frat party over at Going Concern, but I’m mostly a wallflower over there. I’m happy to say that I’ve been given express permission (or explicit orders, if you like) to wander over here to AccountingWEB more often.
Why is that, you might ask? My job is to replace the irreplaceable Gail Perry as Editor-in-Chief. What does that mean? I don’t really know! I think it’ll be fun getting a feel for things, throwing in my own thoughts here and there, and listening to the discussions you’re having about the accounting profession.