If It’s Good for Ghana, It’s Good for the Gander

July 13, 2009

Reason Hit & Run pulls a line out of President Obama’s speech in Ghana this past weekend:

No business wants to invest in a place where the government skims 20 percent off the top…

If federal, state, and local taxes in the U.S. took only 20% of income, that would mean a Tax Freedom Day® of March 15.

This year, taxes in the U.S. will account for 28.2% of our income. Tax Freedom Day fell on April 13, 2009, 103 days into the year. If you include the federal deficit, that would produce a date of May 29.

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