Thursday, July 17, 2008

Cost of Goverment Day for Massachusetts

It took Americans until July 16 to pay for the total costs of federal, state, and local government according to Americans for Tax Reform. Grover Norquist "Happy Cost of Government Day" noted that it took until yesterday for Americans to pay federal taxes, state and local taxes, and pay the costs associated with federal regulations, and state regulations. Residents of Massachusetts are still paying though, they won't have paid for all governmental costs until July 21. By this estimate, people in the Bay State work 202 days to pay for the government.

The Tax Foundation does a similar, less subjective study, looking at federal and state and local taxes to determine the Tax Freedom Day. Massachusetts celebrated Tax Freedom day on April 28. The Bay State paid five days more worth of taxes than the national average (April 23).

The costs of regulations are significant. Government regulations add so much to the tax burden, that Massachusetts taxpayers have work an additional 89 days just to pay for regulations.

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