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Willisms

« Trivia Tidbit of the Day: Part 768 -- Who Will Cut Your Taxes? | WILLisms.com | Trivia Tidbit of the Day: Part 770 -- Red Tape Strangling Economy. »

Trivia Tidbit of the Day: Part 769 -- Tax Freedom Day.

Americans Already Spend More On Taxes Than Food, Clothing, & Shelter Combined, Before Obamacare-

Tax Freedom Day in America in April 9 this year, but if you add in federal deficits (which eventually have to be paid back) it is much later, into May:

taxfreedomday2010.gif

The problem I have always had with this Tax Freedom Day is that it fluctuates with recessions and booms. In recessions, even if tax burdens are basically flat, the Tax Freedom Day is much earlier, because fewer people are employed, and those who are employed are making less and are therefore paying lower levels of taxes.

I like including the full picture, too. Taking on additional debt? Include it. Or, perhaps, project it out into the future.

-------------------------------------

Previous Trivia Tidbit: Who Will Cut Your Taxes? Not Obama.

Posted by Will Franklin · 31 March 2010 10:56 AM

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