Have you heard of Tax Freedom Day? It sounds wonderful, like a special day where you pay no taxes. It’s actually a unique way of displaying how much of our income is paid in taxes. The theoretical date implies that the income you earn prior to Tax Freedom Day goes to the government, and after that you are free to keep the income you earn for the rest of the year.
Celebrate Tax Freedom Day
Tax Freedom Day is April 9 this year (April 4 if you live in Arizona). For 2010, Americans on average will pay 26.89% of their income in taxes to their local and federal governments (represented by the first 99 days of the year).
The Tax Foundation, established in 1937, compiles the data each year and reports on both national and state levels. The organization provides taxpayer education, as well as policy commentary.
Learn more at http://www.taxfoundation.org/taxfreedomday/
You can also see how your state stacks up.