The least-taxed five states have already celebrated their Tax Freedom Days: Mississippi, Tennessee, South Carolina, Louisiana, and South Dakota. Other states may wait as long as May 2:
Americans will spend an average of 28% of their income to pay federal, state and local taxes this year, the Tax Foundation said Wednesday.
That means you will need to work 102 days — more than three months — just to earn enough to pay your tax bill. So on April 12 you will be free of your 2011 tax burden.
This year’s “Tax Freedom Day,” as the Tax Foundation calls it, comes three days later than last year. Rising incomes — resulting in more income tax owed — are largely to blame for its late arrival, the organization said.
For Canadians, you can calculate your own personal Tax Freedom Day using the Fraser Institute’s customized web tool. If I lived in Alberta, for example, my Tax Freedom day would be May 13, but as I live in Ontario it’s actually May 27.
Can I borrow your copy of Atlas Shrugged?
Using total family income, with 2 urchins, here in Dalton’s Paradise, my TFD is June 2nd.
Judas on a Vespa, what’s the f***ing point?
Comment by Lickmuffin — March 31, 2011 @ 10:15