Oops! My bad. This event totally slipped by me last week. But better late than never, right?
So go ahead and celebrate a few days late the Aug. 19 arrival of Cost of Government Day 2010.
This is the day the Americans for Tax Reform Foundation (ATR) and the Center for Fiscal Accountability (CFA) calculate as when the average American has earned enough gross income to pay off his or her share of the spending and regulatory burdens imposed by government at the federal, state and local levels.
It took 231 days to reach the payoff this year, say the groups, or eight days later than last year. (You can click the image below for a larger view.)
In coming up with the date, ATR and CFA considered federal, state and local spending, as well as regulatory costs at all those governmental levels.
States analyzed, too: The Cost of Government Day also details how each state fared.
Alaska celebrated its Cost of Government Day first this year on July 28. Meanwhile, the report says Connecticut taxpayers must wait until Sept. 17 to pay for their state and local government costs.
You can find our where your state comes in in the report's state-by-state cost of government breakdown. Hint: Most states reach their payoff days this month so you still can bake a cake and have a party if you wish.
You also can read the full Cost of Government Day report in PDF format.
- Happy Tax Freedom Day 2010!
- Where your federal taxes went, are going
- Where do our tax dollars go?
- Tracking your tax dollars
- How your tax dollars are spent
- Death and Taxes 2010
- Your 2011 tax burden
- Tax cuts or total tax reform?
- Happy 148th Birthday, U.S. Income Tax
- Today's taxes aren't too bad
- The good side of taxes