First, the good news. It is Tax Freedom Day. It is that day of the year when you have finally earned enough to cover all the taxes you pay, and you are now earning for yourself.

Now the bad news. It is only Tax Freedom Day if you live in America. If you live in the UK, you will have to carry on working another 32 days to feed the voracious appetite of the tax-collectors. Tax Freedom Day in the United Kingdom will not come until Friday 1 June.

This contrast makes it clear just how massive the tax burden is in the UK. Tax Freedom Day is getting later and later. We already work five full months of the year for the benefit of Gordon Brown. At current rates, it will not be long before he - or his successor - is actually taking half of what we earn in taxes. Hardly a way to encourage work and enterprise, is it?

From Adam Smith Institute

Tags: Libertarian, Politics, Liberty, Freedom