Wednesday, April 23, 2008

Today is Tax Freedom Day

Although Tax Day was over a week ago, today is this year’s Tax Freedom Day. What is the difference, you ask? Well, as we all know Tax Day is the deadline for filing your tax returns. However, Tax Freedom Day is the date that the average American has earned enough wages to pay their federal, state, and local taxes for the year. Since today is Tax Freedom Day, it means that Americans work for nearly a third of the year just to cover their tax liabilities.

For more information on tax freedom day, and the methodology used to calculate it, check out The Tax Foundation’s website.

Or, just watch this entertaining video celebrating Tax Freedom Day:

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