Tax Freedom Day - June 2nd?

Question

Tax Freedom Day this year falls on June 2nd!! Only 5 weeks to go until we have, on average, paid all our taxes and are then free to enjoy our own money.

This means that for 155 days of the year, every penny earned by the average UK resident was taken to support government expenditures.

http://www.adamsmith.org/tax-freedom-day/

This is now a full week later than 2002. This year in America it was on April 23rd (113 days).

Taxes include: income tax, VAT, inheritance tax, stamp duty, car and fuel taxes, excise taxes on alcohol and cigarettes, taxes on companies and employment, and many more.

If they carry on rising at the rate they have been, which admittedly is unlikely (we hope!), it won't be much longer before you will spend more time working for the government than you do for yourself.

In fact, if you take into account government borrowing, Tax Freedom Day doesn't come until 14th June as we spend those extra days paying off the interest on Gordon's loans (deferred taxation).

Thoughts?

Answer 1

Bit naive really.  

If you want a government that does anything, you need to pay tax.  The US runs a huge budget deficit and have plunged the world into economic crisis - don't blame Gordon Brown.  Over the next 10 years, either USA inc. will go bankrupt, or American taxpayers will have to pay off the debts George Bush has run up fighting 2 wars on credit.  They'll be lucky to get free of tax before December.

We're paying less tax now than we have ever done in our history.  When I started work, basic rate tax was 41.25% and surtax could take you up to 97.5% on the top slice of your income.  We didn't have VAT, but purchase tax was up to 55%.  I've paid my tax which is why you're still alive and educated.  Now stop whinging and pay yours.  As a country, we're already suffering from paying too little because politicians sell the lie that you can have something for nothing.

So how do you think the British Government should reduce spending so it can reduce tax?  75% of our tax goes on health care.  We could just let poor people die like they do in America - but with our regressive tax system, they're the ones paying the tax.  We could stop supporting American adventures in Afghanistan and Iraq, but that would only move the calendar back a couple of days.

Fortunately, Adam Smith died a long time ago.  Otherwise he'd have a few choice things to say about the innumerate idiots who use his name.

Answer 2

155 days ?  It's getting a bit ridiculous now - they are making it more and more pointless going to work !

Answer 3

Taxes only make people poorer, but the Government and the people like them. It gives the man in the street a warm feeling inside knowing the Government spends his money for him.

"old know all" Has been going senile for a while now. His quaint old-fashioned Socialist views are a hoot.

Answer 4

After careful consideration of all the data at hand for all of a nano second, what a load of old rubbish. Tax freedom day, dear Gods whatever next.