Tax Freedom Day Is Coming
The Tax Foundation calculates “Tax Freedom Day” each year. “Tax Freedom Day is the day when the nation as a whole has earned enough money to pay its total tax bill for the year,” says the group. This year, Tax Freedom Day falls 111 days into the year – on April 21 – three days later than last year. However, if the government’s borrowing were included, we’d have to wait until May 6. The delay is “due mainly to the country’s continued slow economic recovery.” Way back in 1900, Tax Freedom Day came on Jan. 22. Those were the good ole days.