The REAL Cost of Government

From a new feature at Investor's Business Daily:

The REAL Cost of Government

How 61% of YOUR Income Goes to Taxes and Regulation

You may not have realized it, but you just spent the first 224 days of this year working for the government.

That's how long it took the average American to pay all the taxes — and regulations — imposed by federal, state and local governments.

Since 1977, Americans for Tax Reform Foundation and the Center for Fiscal Accountability have tracked the Cost of Government Day, which shows how much of each year you must work before you've paid off the true cost of government.

In 2009, Cost of Government Day fell a full 26 days later than in 2008. And with the costs of health care reform, cap & trade and unfunded obligations for Social Security and Medicare looming ahead, the future outlook is not pretty.