Newspaper article St Louis Post-Dispatch (MO)

A Tax Day That's Even Worse for Missouri

Newspaper article St Louis Post-Dispatch (MO)

A Tax Day That's Even Worse for Missouri

Article excerpt

When are Missourians done paying their taxes? No, the answer isn't April 18 taxes are just due on that day. You finish paying them on April 12.

That's when Missouri taxpayers finally earn enough to pay what they'll owe for 2016. Put another way: You work 103 days before you actually start to see your hard-earned money. The nonpartisan Tax Foundation calls this "Tax Freedom Day," although you probably won't feel like celebrating when you consider that you're likely spending more on taxes than on food, clothing and housing combined.

You're also losing more to the tax collector with every passing year. Nationally, Tax Freedom Day is the same day it was last year, but it's still 11 days later than it was only four years ago. When you stack Missouri up against other states, it's actually in the middle of the pack, with the 12th Tax Freedom Day in the nation.

But expect things to keep getting worse in the years ahead.

Tax Freedom Day keeps getting pushed back mainly because the federal government keeps taking more of our money. This year, Washington, D.C., is expected to rake in a record-breaking $3.36 trillion in tax revenue, $115 billion more than it did last year.

That still won't be enough to satisfy D.C.'s spending addiction. Washington will once again spend more than it brings in this year, adding $534 billion to the already massive federal debt. But that's par for the course: Over the past two decades, both Republicans and Democrats have made countless promises while leaving you and me with the bill. The result has been out-of-control federal spending, which has fueled an unprecedented rise in the national debt from just over $5 trillion in 1996 to $19 trillion today.

The wasteful spending is getting worse, too. Last month, the federal government's fiscal watchdog the Congressional Budget Office estimated that federal deficits will grow every year for the foreseeable future. …

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