Tax Freedom Day 2010
- July 15, 2010
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Did you ever wonder how many days you have to work each year just to pay your taxes? The day that you have earned enough money to do so is called Tax Freedom Day. This is the day when Americans have earned enough money to pay this year’s tax obligations at the federal, state and local levels.
According to the Tax Foundation, Tax Freedom Day for 2010 fell on April 9, the 99th day of 2010. This year’s Tax Freedom Day is one day later than in 2009, but more than 2 weeks earlier than in 2007. In 2006, Tax Freedom Day fell on April 26. Based on this analysis, for the average American, taxation is a bigger financial burden than housing, food and clothing combined. For instance, in 2006 the average American worked 116 days to pay their taxes (77 days to pay federal taxes and 39 days to pay state and local taxes). In the same year the average American worked 62 days to pay housing costs, 52 days to pay health care and medical costs, 30 days to pay food costs, 30 days to pay transportation costs, 22 days for recreation and 14 days to pay clothing costs. These figures come from the Tax Foundation (TaxFoundation.org). For an opposing viewpoint, visit the Center on Budget and Policy Priorities at http://www.cbpp.org/cms/index.cfm?fa=view&id=3139.