It's tax day, but so is every day through April 18. That's the date this year when the average American has finally earned enough to pay off federal, state, and local taxes. According to the nonpartisan Tax Foundation, more than a quarter of your income goes to one tax or another.
Payroll taxes rose already this year as part of a $600 billion tax increase pushed by President Obama. Yet he's now proposing a budget for the next fiscal year that includes more than $1 trillion in net federal tax increases. In fact, the president has already thrown down the gauntlet, telling Congress that he will veto any budget that doesn't include tax increases. This president is determined to get massive tax increases to keep feeding Washington spending.