Diary

THE OBAMA TEA PARTY

Tax Foundation president Scott Hodge. “Americans will still spend more on taxes in 2008 than they will spend on food, clothing and housing combined.”

Table 1Tax Freedom Day and Tax Burden, Selected Years 1900 – 2008Year Tax Freedom Day Taxes as a Percentage of Income1930 February 12 11.7%1960 April 11 27.7%1990 April 21 30.4%2007 April 26 31.7%2008 April 23 30.8%

Source: Office of Management and Budget; Internal Revenue Service; Congressional Research Service; National Bureau of Economic Research; Tax Foundation.

In 2008, Americans will work 74 days to afford their federal taxes and 39 more days to pay state and local taxes. Meanwhile, buying food requires 35 days of work, clothing 13 days, and housing 60 days. Other major categories are health and medical care (50 days), transportation (29 days), and recreation (21 days).

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