Libertarian Party: Move Personal Independence Day From June To January

Libertarian Party: Move Personal Independence Day from June to January

Every year, federal, state and local governments seize an enormous percentage of
the money Americans earn. For several months of every year, taxpayers are
effectively working for the government without compensation.

This year, [1]according to the Tax Foundation, Americans must work until April
18, what they call Tax Freedom Day, to pay their taxes before they can finally
start working for themselves instead, based on a total federal, state, and local
tax burden of $4.22 trillion. If federal borrowing is added in, they point out,
Tax Freedom Day would fall on May 9, another 21 days of Americans’ lives devoted
to working for the government.

But is it really that soon?

As Nobel laureate economist Milton Friedman famously observed, “It cannot be
emphasized too much that the real burden on the economy is what government
spends (or mandates others to spend) rather than how much it receives in
taxes.” In [2]a 1974 Newsweek article, Friedman suggested giving a name to the
day at which we stop working to pay all the expenses of government — total
spending, not just current taxation. He dubbed it “Personal Independence Day.”

When total spending by all levels of government is taken into account,
[3]according to this estimate, the burden of government will reach $6.16
trillion for 2013.

This means that it won’t be until June 6 before Americans’ will finally be free
to keep their earnings instead of paying for wasteful government spending.
Personal Independence Day doesn’t arrive until nearly half the year has passed.

This enormous government burden is all attributable to Republicans and
Democrats, who keep voting to increase the percentage of wealth confiscated year
after year — forcing Americans to spend more and more of their lives as
indentured servants to Big Government.

The Libertarian Party is the only political party that calls for an immediate
end to high taxes, calling in its platform “for the repeal of the income tax,
the abolishment of the Internal Revenue Service and all federal programs and
services not required under the U.S. Constitution.”

“As long as voters continue to cast ballots for Republicans and Democrats, they
will continue to expand the number of days before workers can keep their
earnings to support their families” said Carla Howell, Libertarian Party
executive director. “The Libertarian Party calls for immediately slashing both
taxes and government spending — permanently — and returning that money to the
workers and taxpayers who earned it.”

“Vote Libertarian and move Personal Independence Day to January,” she said.


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