About one third of the average American's money is stolen by taxation every year! This does not include all the time required for record maintenance, bookkeeping, accounting, updating, research of added laws and cost for preparation. m/r
Tax Freedom Day® 2013 is April 18, Five Days Later Than Last Year | Tax Foundation
What is Tax Freedom Day?
Tax Freedom Day is the day when the nation as a whole has earned enough money to pay its total tax bill for the 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. In 2013, Americans will pay $2.76 trillion in federal taxes and $1.45 trillion in state taxes, for a total tax bill of $4.22 trillion, or 29.4 percent of income. April 18 is 29.4 percent, or 108 days, into the year.
Why is Tax Freedom Day later this year? -go to link-
When is Tax Freedom Day if you include federal borrowing?
Since 2002, federal expenses have exceeded federal revenues, with the budget deficit exceeding $1 trillion annually from 2009 to 2012. In 2013, the deficit will come down slightly to $833 billion. If we include this annual federal borrowing, which represents future taxes owed, Tax Freedom Day would occur on May 9, 21 days later. The latest ever deficit-inclusive Tax Freedom Day occurred during World War II, on May 21, 1945.
-go to link for more of the government's theft analysis-
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