American’s Worked 109 Days Just to Pay Taxes Due.
The day came and went and with little fanfare, but last Thursday, April 19, should have seen parties all over America. Just in case you missed it, last Thursday was Tax Freedom Day. It is the day when our nation as a whole has earned enough money to pay its total tax bill for the year. So basically you have worked 109 days from January 1 to April 19 this year just to cover taxes that are due for the year. In other words, you worked 109 days for free.
This year’s Tax Freedom Day arrived three days earlier than last year primarily because of the new federal tax law which featured tax cuts. The numbers are mind boggling when it comes to the amount of taxes paid. According to some estimates, our country will pay $5.2 Trillion which comes out to around 30% of the country’s income.
The numbers are alarming aren't they? Well, there's not much you and I can do so where's the party?