Tax Freedom Day

The Adam Smith Institute gives us the good news, the not so good news and the downright ghastly stuff. Today, is Tax Freedom Day. Well, up to a point.

This is the earliest Tax Freedom Day since 1973 – on the face of it, good news for taxpayers. But there is a downside: the traditional Tax Freedom Day measure only reflects the money actually raised by the government in taxes, not the full amount it spends. If the government deficit is factored in, Tax Freedom Day does not come until 25 June (the worst figure since 1984).

A cheering thought as we contemplate the public sector that is still waxing fat.