Monday, April 06, 2009
Richard Olivastro :: Townhall.com Columnist
When is Your Tax Freedom Day?
by Richard Olivastro
Vote on It:
Average Vote:
[+] Text [-]
 
 

Each year, most Americans refer to April 15 as Tax Day. That’s understandable given the reality that April 15 is typically the deadline for filing income tax returns; so, many people use it as a target date of sorts.

Despite that practice, there is a more important date for every citizen: Tax Freedom Day.

That’s the day when each of us has earned enough income to pay our tax liability to government at all levels.

Since Tax Freedom Day varies for each of us given the variables involved, the good work with data analysis by the Tax Foundation in Washington, D.C. gives us insight and the opportunity to compare tax burdens by state.

Before you continue to read, take note of the date you are actually reading this column, as well as your state of residence.

This year, nationally, Tax Freedom Day is April 13. There is good news, and bad, with this year’s date.

The good news is that April 13 is eight days earlier than last year, and 14 days earlier than 2007.

But, the bad news is also the reasons for this year’s earlier date. First, the economic downturn has reduced tax collections even faster than it has reduced income; and, second, the federal stimulus includes large temporary tax cuts for 2009 and 2010.

Still, the average taxpayer will work their first 103 days of 2009 for the government to cover their tax burdens to government. To put that in perspective, Americans will pay more in taxes than they will spend on food, clothing, and housing combined.

Don’t want to think of yourself as ‘average’?

OK; you just might be above, or below, average – as a U.S. taxpayer.

Thanks to the Tax Foundation, we can also look at taxpayer data by state to find the answer for you. Continued...

1 2
| Full Article & Comments | Next >
Share:
Vote on It:
Average Vote:
 
About The Author
Richard Olivastro is a professional member of the National Speakers Association, president of People Dynamics, an executive leadership development company, and founder of Citizens For Change.
 
TOWNHALL DAILY: Be the first to read Richard Olivastro's column. Sign up today and receive Townhall.com daily lineup delivered each morning to your inbox.

 
Popular Articles By Olivastro

Cam's version of logic...
"Students from the "socialist" countries regularly outscore ours. We should try to be more like them rather than less like them."

In your mind this proves we need more and better public schools with more socialist encroachment.

Egad man...

This proves just the opposite. What it proves is our public school model has failed it's intened purpose. Just because socialist countries 'outscore' our crappy public schools doesn't 'prove' anything more than our public schools are crappy.

You cannot be that ignorant...well-maybe you can.

Define education.
Define education standards.
Why did the US adopt a 'public system' in the early 1900's?
Was the existing model failing? Who determined this?

Sheesh...

Happy Now ?

Lib at heart...
Now I know without a doubt, you are an ignorant, uninformed fool blathering about which you know not.

(Just because you can drive from state to state or fly from one Socialist Democracy to another...good grief!)

Take your pick: Ask a North Korean how he gets an exit visa from his government. Or a Cuban. Or a Sudanese.

It is not because of conservatives opposing illegal immigration. It is because these and many more live under tyrannical regimes which do not respect their inalienable rights to life, liberty and the pursuit of happiness. They don't choose where they are born. There is no just leaving and coming to America. That is what makes your stupid statement regarding people choosing to live where they live,
so-well-stupid. Likewise for many fellow Americans. They cannot just move because you think they should or can or ought to. That is such a self-centered, geocentric view of the world.
So Typical Eastern liberal

By the way, how's the South Bronx looking these days ?
How are those liberal policies in New York working out there ?
Those public schools working out real well there-eh?
Crime down? Property values up?
That's what I thought...

Happy Now?
Sign Up to Post Your CommentsSign Up to Post Your Comments
If you are already registered, click here to login. Otherwise, please take a few seconds to register with Townhall.com. Once you sign up, you’ll be able to post your comments immediately, use the action center, get podcasts, and more!
Note: Fields marked with a red asterisk (*) are required.
Salutation:
First Name:
*
Last Name:
*
Email:
*
Nickname:
*
Note: Nick name will be shown when you post comments.
Address 1:
*
Address 2:
City:
*
State:
*
Zip:
*
Phone:
      
The very best in financial advice from Dave Ramsey, Larry Kudlow, Motely Fool and many more plus Dilbert!