Roll Call: Latest News on Capitol Hill, Congress, Politics and Elections
July 24, 2014

Tax Freedom Day Late This Year

Tax Foundation: “Tax Freedom Day is the day when the nation as a whole has earned enough money to pay its total tax bill for year. A vivid, calendar-based illustration of the cost of government, Tax Freedom Day divides all federal, state, and local taxes by the nation’s income … This year, Tax Freedom Day falls on April 21, or 111 days into the year.”

“Tax Freedom Day is three days later than last year due mainly to the country’s continued slow economic recovery.”

“Higher-income and higher-tax states celebrate Tax Freedom Day later: Connecticut (May 9), New Jersey (May 9), and New York (May 4). Residents of Louisiana will bear the lowest average tax burden in 2014, with Tax Freedom Day arriving for them on March 30. Also early are Mississippi (April 2) and South Dakota (April 4).”

“The latest ever Tax Freedom Day was May 1, 2000, meaning Americans paid 33.0 percent of their total income in taxes. A century earlier, in 1900, Americans paid only 5.9 percent of their income in taxes, meaning Tax Freedom Day came on January 22.”

Tax%20Freedom%20Day%202014%20Map 0 Tax Freedom Day Late This Year

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