For its pilot project, Who Funds You? – http://WhoFundsYou.org – asked 20 leading UK-based think tanks and political campaigns to disclose their major funders and rated them on the depth of their responses. Continue reading
Some sobering thoughts for you this morning.
According to calculations made by the Adam Smith Institute in London it is expected that Tax Freedom Day for the average worker in the UK will be 30 May in 2012. That means that for the first 149 days of the year, you will be earning for the taxman. Only on May 30 will you start earning for yourselves.
The Tax Payers Alliance take this calculation a step further and provides The Cost of Government Day. This is the date in the calendar year on which the average person is calculated to have earned enough gross income to pay for their share of the cost of government spending and regulation.
In 2012 The Cost of Government Day is calculated to be 26 July.
This means the average person must work for 208 days in the coming year to pay for their share of government spending and regulation combined. Out of the 208 days,the average person must work for 179 days (27 June) in the coming year to pay for their share of the cost of government spending and then work a further 29 days (26 July) of the year to pay for their share of the cost of government regulation.
Matthew Elliott, Chief Executive of the TaxPayers’ Alliance said,
Taxpayers should be looking forward to toasting in the New Year, instead the enormous cost of Government spending and regulation means they will effectively be working for the Government until the summer. Government spending and expensive regulations are costing more than half of ordinary people’s income and this simply cannot go on. The Government needs to cut spending, get rid of burdensome regulations and cut taxes to get the economy going and leave more taxpayers’ money in their own pockets.