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Just Two More Weeks to Tax Freedom Day®

At the Tax Foundation's Tax Policy blog today, we learn Americans will be able to start working for themselves in two weeks, according to their annual Tax Freedom Day report. The report shows that Tax Freedom Day "will come on April 21st this year, which is three days later than last year. The calendar measure represents how long Americans as a whole need to work in order to pay the nation’s tax burden."

The blog post also says:

"The report estimates that Americans will pay about $4.5 trillion dollars in taxes of all kinds in 2014, with $3 trillion going to the federal government and $1.5 trillion dollars going to state and local governments. This is approximately 30.2 percent of the nation’s income paid in taxes.

"In total, Americans will pay more in taxes in 2014 than on food, clothing, and shelter combined."

Below is the graphic that accompanied the announcement at their Tax Policy blog:

Read the entire study, and weep. Kudos to the Tax Foundation, however, for their ever helpful tax policy information.

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