New York (CNNMoney.com) - This year, it's going to take the average American 99 days to earn enough money to pay the IRS. That's one day longer than last year.
"Tax Freedom Day" marks the date that most Americans have earned enough money to pay their federal, state and local taxes, and this year that day arrives on April 9, according to the Tax Foundation's annual calculation, which is based on government tax and income data.
Arriving one day after it did last year, Tax Freedom Day means that Americans will have to work that much harder - for more than three months - just to pay their 2010 taxes.
The number of days Americans have to work to pay off their taxes has declined steadily since 2007. That's due to a handful of tax cuts, certain income tax provisions that were repealed for 2010 and because the recession has reduced tax collections faster than it has cut income, according to the Tax Foundation.
But while it will take people less time to earn the money this year than it did in 2007, Americans will still spend more on taxes in 2010 than they will on food, clothing and shelter combined, the Tax Foundation said.
Full story on CNNMoney.com
In spite of what the Tea Party says, it actually costs money to provide necessary services...unless we want to go back to living in fortresses armed to the teeth like the American colonists in the 18th century. The Michigan terrorists are a logical extension of the Tea Party movement.
THIS INFORMATION IS FOR REPUBLICANS ONLY ! Democrats receive unearned income & entitlements and pay 0 taxes.You know,you would think the dems would like the party that pays the bills.
Yeah but that's not the end of the taxation. We are taxed on the money when we earn, then taxed again when we spend it, taxed even more if we save it. Talk about double taxation, we should be taxed only once and then get to keep some of it..............don't you think? Quit taxing us on our utilities, gas for automobiles, another 8.75% when we buy something, there is no end to the taxation and then they want more.......all in the name of creating economic equality...ie: taking from those who work to give it to those who don't and to those who enter our country illegally.
And they act surprised with the Tea party movement!! Go figure.
Just 99 days? Not bad, soon it will be 365 days because the liberals presently occupy this country.
Wait until next year, when you can add another 2 days to pay for Obamacare then another 3 days to pay for public employees who are now earning mroe than private sector employees.
We are on the road to bankruptcy.
Gee, what a heartwarming article.
By the time Obama and his out of controll spending buddies get through with us we will work every day of the year for the IRS and the new inpectors being hired under this so call healthcare bill. Enjoy and refuse to see the truth liberals.
Gee, thanks Obama and Democrats!!!
1. State and local taxes are not paid to the IRS. Neither are FICA taxes.
2. 2 January – 9 April is about 70 workdays, not 99.
3. There is some controversy in the calculation method the Tax Foundation uses.
Add to that state and local taxes, including sales taxes, and you are into May. And Barry Obama is raising those IRS taxes in just a few weeks to pay for his health system takeover.
99? Give Team Obama a couple more years and we'll look fondly back at the old days when it was only 99, instead of 199. Have you noticed that as bad as things were with the last Prez, everything is worse now? Have you noticed that even as the left gets everything they've always wanted, they are more angry and hateful than ever? Did you notice that every time the Evil Triad stumbles (that's Pelosi, Reid and Obama in case you didn't know) the lefties pull out the old Bush/Cheney/Rove insults. What was Bush's approval rating when he left, 25%, so he didn't have many people saying what a good job he did. Yet, now we know he could have done a lot worse as the new team is demonstrating every single day.
AND what does this government owe us? STOP SPENDING!
A completely ridiculous premise. The Tax Foundation is simply dividing the total tax collected by the number of working Americans and prorating that through the year. The vast majority of Americans spend far more on "food, clothing and shelter" combined than on taxes. Wealthy Americans are taxed at a higher rate and that's what's skewing the numbers.
It's as absurd as combining your taxes with Bill Gates' taxes and averaging them and complaining about how high they are. The Tax Foundation is schilling for the highest income earners who don't want to pay their fair share of taxes–even though the top marginal tax rate now is less than half (as a percentage) as it was 20-30 years ago.
Ah that explains the internet porn surfing at work. Going to get screwed, might as well enjoy it.
We still have the lowest tax rates and by far the lowest government spend as % of GDP in the industrialized world. Tea Baggers who are likely to jump on "tax freedom day" as a reason to call for slashing taxes even further only need to look to their crumbling bridges, highways, veterans hospitals, and schools to see that 99 days may, in fact, be too little.
Well you actually mean a certain segment will owe 99 days of hard work. You know, the people who do not sit home all day living off of govt. entitlements that are paid for by people who actually DO work hard. OBAMAS VISION OF A NEW AMERICA IS A DISGRACE. ITS A TRUE PATH TO FAILURE. GET THE RADICAL LIBERALS OUT.
Ha ha. 99 days is a walk in the park. When Bama gets his way, it'll be more than that FOR CERTAIN.
Spread the wealth, spread the wealth... (i.e., works for the lazy ones too).
Welcome to Obama World!
I'm so frustrated by these types of trite headlines. "You owe the IRS". This simply feeds into the ill-conceived notion that "the man" or "the government" takes "your money" and throws it in an incinerator.
Taxes pay for "your" national defense, medical care for veterans, medicare and medicaid, roads, bridges, schools, and on and on.
People get all bent out of shape over the stimulus and stimulus-related projects. Who do you think gets the contracts to build the roads and other projects funded by the stimulus? PRIVATE COMPANIES. So you or your neighbor, or someone in your local economy, will create (or keep) because of those programs.
You may disagree with how tax money (or stimulus money, or any other government funds) are spent, or how the money is allocated, or how much we pay in taxes. But everyone - the media included - should stop acting as if the money just vanishes, never to be seen again.
But you get roads, schools, protection from foreign enemies, clean water to drink, sanitation, relatively safe food, relatively efficient justice, financial security in old age, etc., etc., etc.
Not a bad bargain, at all.