Government will take every penny you've earned so far this year

By Washington Examiner July 7, 2014

As Americans celebrated this nation's birthday on July 4, most were likely unaware of a less uplifting commemoration that fell on the calendar during the same holiday weekend. That was Cost of Government Day, or July 6, 2014. The date's significance is one of political math and symbolism. By the time 2014 ends, local, state and federal governments will have consumed the equivalent of every dime of national production created between New Year's Day and July 6. The money goes to government spending and regulatory compliance. Americans have only from Monday until year's end to produce anything for themselves.

The concept of CGD is similar to that of Tax Freedom Day, which fell on April 21 in 2014 and which is defined as the date by which the average American family has earned enough to pay its annual tax bill. But CGD takes GDP as its denominator instead of income, so it falls later in the year because it accounts for both deficit spending and regulatory compliance burdens........This is just another way of saying government will consume 51 percent of U.S. gross domestic product in 2014. This is an average for all 50 states, however. Residents of some states - such as New York, New Jersey, California and Connecticut - will have to work a few more days or weeks before they've satisfied the demands of big government's advocates in their respective state capitals.……To Read More…..