Tuesday, May 20, 2008

The Day Families Earn Enough to Pay for Gov't

Senator Tom McClintock on the show today talking about the government 'takings' of our money and our rights -- not just taxes, but our safety deposit box contents, stocks and private property.

What affects the family, domestic policy-wise,more than taxes?

If we didn't have to pay close to 50% of our income on local, state and federal taxes, perhaps more young families could own their home, or not have to go through fore-closure! Perhaps more families could afford health insurance, or not have to worry so much about the soaring cost of gasoline at the pump.

What do you think? I think - ah, yes!

Every year a date is set that estimates the day when Americans (finally) stop working to pay federal, state and local taxes and start working for themselves. In 2008 "Tax Freedom Day" was April 29th.

But the American Institute for Economic Research (AIER) sets a cost of government spending date by calculating what they’ve dubbed, “Friedman Day” which recognizes the late Nobel Prize winning economist Milton Friedman’s notion that it’s not how much governments collect in taxes that matters most, it’s how much they spend. This year taxpayers will work until May 19th in order to pay for the federal government’s spending in 2007.

Despite a Republican Administration, and thanks to a Democrat controlled Congress, this year is 12 days later than it was in 2000. Soon Americans will work 6 months or a half a year just to pay for government spending. This is outrageous!

(Review here: Friedman Day trends since 1932)

Hear today's show online now (See 5/10/08)


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