Idaho Celebrates COGD Four Days Later than National Average
Idahoans, along with two other states, must endure 201 days of labor before they can pay off the full costs of government spending and regulation. This year, Idahoans have a Cost of Government Day falling four days after the national average of July 15.
Idaho residents continually experience a reduction in their taxes. Since 2003, taxes have been reduced every year; cumulatively, residents have seen a total decline of $813.76 million between 2003 and 2012. Looking specifically at 2012, taxes for each man, woman and child are reduced by $76.51. Even though there have been significant reductions in taxes, the state and local tax burden falls just below the national average. Idahoans experience state and local tax burden at a rate of 9.4 percent, ranking 28th nationally.
Idaho has a total state debt of roughly $11.95 billion. In other words, each man, woman and child has an outstanding debt of $7,663.18. While the nation remains on a government pay-freeze, to reduce federal spending, Idaho state workers will see a pay increase. During FY2013, state employees will receive a 2 percent raise- increasing state spending by $41 million.
The increase in salaries for state spending will contribute to an even later Cost of Government Day for Idahoans next year. To have a less expensive Cost of Government, Governor Otter and legislators need to cut spending while continue to alleviate residents of a historically high tax burden.