Tax Freedom Day in the USA

April 16, 2018 Taxation in USA

tax freedom dayWASHINGTON D.C. – America’s Tax Freedom Day will is only days away, but would be almost 3 weeks away if the government’s overspending was counted.

Tax Freedom Day in the USA will fall on April 19th this year, according to new information released last week by the think-tank the Tax Foundation.

Tax Freedom Day is a measure used by some think-tanks and researchers to help illustrate the tax burden faced by taxpayers in a country.

The measure is used to illustrate how long an average taxpayer needs to work each year before they would earn enough to pay off an average tax burden for the entire year.

This year in the USA the average taxpayer would need to work for 109 days before paying off their tax obligations.

The Tax Foundation claims that the average American will spend more on tax this year than they will on food, clothing, and shelter combined.

The current tax burdens do not take into account the debts taken on by the government, and if these were counted now, the date of Tax Freedom Day would fall 17 days later.