
“Tax Freedom Day is the day that ‘the nation as a whole has earned enough money to pay its total tax bill for the year.’ National Tax Freedom Day comes just a few days behind our deadline to pay up, with the exception of Texas, where residents have a lower average state and local tax burden. Tax Freedom Day for Texans began on April 10. On average, Americans nationwide will work 40 days just to pay their income tax, another 25 days for payroll taxes, 15 days for excise taxes, and 12 days for property taxes. Overall, Americans will spend more on taxes than on food, housing, and clothing combined this year.”
http://www.independent.org/newsroom/article.asp?id=3593
Related posts:
The Top 6 Reasons Why Everyone Needs a Second Passport
A Guide To Understanding the Middle East, Syria, The West and Oil
Bill Bonner: Has gold bottomed out?
The Fourth Branch: The Rise to Power of the National Security State
Is 'La Vie En Rose' Over For France?
Bruce Schneier: Why are we spending $7 billion per year on TSA?
Who Was the Richest Person Ever?
CIA created 9/11 blowback, American citizens paid
David Galland: Scenarios
Cheating to Learn: How a UCLA professor gamed a game theory midterm
Vitalik Buterin on Cryptoeconomics and Markets in Everything
Hershey, Cuba
The Shocking Real Reason for FATCA, and What Comes Next
Bill Bonner: What Is the Point of Government?
20 Investment Insights from Peter Lynch