Photograph of Charles Foster Kane pointing to poster of himself.
If the headline is big enough, it makes the news big enough.
All the Web that's fit to blog.
Price: Free
25 March 2017
Morning Sedition

Happy Tax Freedom Day!

Chart Showing Tax Freedom Day by Calendar Year

Chart of Tax Freedom Day Dates by Year, "Tax Freedom Day to Arrive April 17 in 2005", National Tax Foundation

At the beginning of the 20th century, taxes accounted for 5.9 percent of income, and the nation celebrated Tax Freedom Day on January 22.

"America Celebrates Tax Freedom Day", National Tax Foundation Special Report, No. 134, April 2005

Today is Tax Freedom Day; that is, today is the day that marks the demarcation of the period worked to pay for federal, state, and local taxes and that where Americans work for themselves. (Yay!)

The report compares the number of days Americans work to pay taxes to the number of days they work to support themselves.

“Despite all the tax cuts that the federal government has passed recently, Americans will still spend more on taxes than they spend on food, clothing and medical care combined,” said Hodge.

In 2005, Americans will work 70 days to afford their federal taxes and 37 more days to afford state and local taxes. Other categories of spending measured in the report include housing and household operation (65 days), health and medical care (52 days), food (31 days), transportation (31 days), recreation (22 days), clothing and accessories (13 days), saving (2 days) and all other (42 days).

"Tax Freedom Day to Arrive April 17 in 2005", National Tax Foundation

Chart Showing Tax Freedom Day by Calendar Year

Chart of Taxes vs. Expenses, "Tax Freedom Day to Arrive April 17 in 2005", National Tax Foundation

The full, and quite detailed, report is interesting, but mostly disturbing. Once again, the red staters are like lampreys that have opened up a vein into us blue staters. Sigh.

Overall, the largest importers [of federal tax dollars] are Florida (+$1,478.5 million), Washington (+$1,275.2 million), Virginia (+$1175.8 million) and Georgia (+$999.7 million); and the largest exporters [of federal tax dollars] are California (-$2,686.31.3 million), New York (-$2,076.3 million) and New Jersey (-$1,885.0 million). The District of Columbia is a net tax exporter with -$125.3 million.

"America Celebrates Tax Freedom Day", National Tax Foundation Special Report, No. 134, April 2005

So, celebrate the fact that you're working for yourself today. And remember the secrets of success: Be your own boss, run a cash business, and don't extend credit.

Navigation

This Month

April 2005
S M T W T F S
« Mar   May »
 12
3456789
10111213141516
17181920212223
24252627282930

Weather

  • Central Park, NYC
    • Weather data not available

Wall Street

Google

  • Price: 814.43
  • Change: -3.15

DJIA

  • Price: N/A
  • Volume: N/A

S&P 500

  • Price: 2,343.98
  • Change: -1.98

Nikkei 225

  • Price: 19,262.53
  • Change: +177.22

Dollar vs. Euro (€)

  • $1 buys €0.9258

Dollar vs. Pound (£)

  • $1 buys £0.8018

Dollar vs. Yen (¥)

  • $1 buys ¥111.3290

Dollar vs. Yuan (元)

  • $1 buys 元6.8802

RSS Feeds

Entries
Comments

Login/Register

Validate CSS/HTML

Validate XHTML
Validate CSS