| California Tax Freedom Day |
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| Wednesday, 12 September 2007 | |
Here is an article I wrote for The Daily Breeze newspaper.Warning: You're Working Even Longer for the Government This Year!You may have heard that last week marked Tax Freedom Day. It's the day the average Californian stops handing over his or her hard-earned money to federal, state and local governments and starts keeping it for themselves. This year California Tax Freedom Day arrived on May 7, 2007—two days later than last year. That adds up to 126 days of the government spending your money, instead of you. Just 4 years ago, California Tax Freedom Day came to citizens 15 days earlier on April 22. Worse in 2007California ranked the seventh highest-taxed state in the nation. Last year, California was ranked two positions better. It's getting worse for California. It's no wonder entrepreneurs, businesses and over-taxed Californians are simply fed up and fleeing to nearby tax-friendly states like Arizona, Nevada and Oregon. This year, the government will take 32.7% of the nation's income. You spend more days working just for the government (126 days) than you do for food, clothing and housing combined (105 days). How did we get into this tax crisis? Critical Problem AreasThe problem is with the federal, state and local governments. In 2003, President Bush's tax cuts gave the economy a robust jump, and...Get the full story. Sign up for a FREE all-access membership by clicking here. |
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