Thirty-Eight More Days of Deficit Spending

Congressman Tom Price (R-GA) issued the following statement in observance of national Tax Freedom Day. As calculated by the independent Tax Foundation, the average American has worked from January 1 until today, April 9, just to pay federal, state, and local taxes for 2010. If taxes were high enough to cover deficit spending, this day would not arrive until May 17. By these figures, public sector spending will consume nearly forty percent of Americans’ income through debt and taxation this year.

“Today the average American has finally worked enough to pay off the tax collector, but it will be another thirty-eight days before Americans have covered the costs of reckless deficit spending by our federal, state, and local governments,” said Congressman Price. “That’s a heavy burden for hard-working families to carry at any time, especially when so many are still getting back on their feet.

“With more out-of-control spending and massive tax increases at the core of the Democrats’ job-killing agenda, how many budding entrepreneurs and small business owners will decide the risk of following their dreams simply isn’t worth government debt and taxes taking almost forty percent of the reward? No nation in the world has ever taxed and indebted itself into prosperity. It’s time to unshackle our job creators from the bonds of reckless government spending.”

Note: According to the Tax Foundation, more of Americans’ hard-earned dollars will go to paying taxes in 2010 than to providing food, shelter, and clothing.