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Starting Friday, You Get to Work for Yourself

In a new special report (number 177) the Tax Foundation reports that Friday, April 9th will be Tax Freedom Day® that marks the day when American taxpayers “have earned enough money to pay this year’s tax obligations at the federal, state and local levels.” Nevertheless, they add the warning:

“Despite all these tax reductions, Americans will pay more taxes in 2010 than they will spend on food, clothing and shelter combined.”

A key finding in the report is that each state celebrates it’s own Tax Freedom Day, with Alaska’s the earliest (March 26) and Connecticut’s the latest (April 27). Virginia’s Tax Freedom Day is April 13, ranking it 10th.

In addition, the report provides a discussion, and table, of Tax Freedom Day since 1900 when American taxpayers worked only 22 days to pay taxes. Between 1900 and 1917, the number of days needed to work to pay taxes ranged between 19 and 25 days. That number started a continuous march upwards, finally reaching triple digits in 1960.

According to the Tax Foundation, Tax Freedom Day “was conceived by Florida businessman Dallas Hostetler in 1948 . . . (and) deeded  the intellectual property to the Tax Foundation” in 1971. They add that it provides “a vivid, calendar-based illustration of government’s cost, and it gives Americans an easy way to gauge the overall tax take.”

Provide the young people in your life a copy of the special report so they will know there was a time in American history when government didn’t plunder the productive members of its society.

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