Posted on 04/08/2014 9:54:29 AM PDT by kingattax
The day when the nation collectively has made enough money to pay its total tax burden for the year is three days later this year, according to a new report.
According to a report released Monday by the Tax Foundation, this year Tax Freedom Day falls 111 days into 2014, on April 21.
By April 21, to group says, Americans will have made enough to pay the $3 trillion in federal taxes and $1.5 trillion in state taxes — more than they will spend on food clothing and housing combined.
(Excerpt) Read more at dailycaller.com ...
Nah, it’s even later if you count deficit spending, which you pay for eventually through inflation and currency depreciation.
The thing to look at is the ratio of spending that is directly or indirectly government related. That includes mandates—things you must do or expenses you incur by law that you otherwise would not do. I think it’s close to 50% here in the USA. Just looking at direct Federal taxes (about 22% or so of GDP) vastly understates the burden.
There’s no such thing as tax freedom in America. It’s a protection racket.
Tax freedom day for divorced parents comes much, much later, if ever.
There is no tax freedom.
It’s only [about] a third of what they want though.
I just got off the phone with our accountant. My husband and I got hit with a $1000 tax for Medicare under the new Obamacare regulations. We have high income, so we got slammed. I want to know- is this money going to Medicare or to Medicaid? It seemed to me that the money going to Medicare was decreased, and Medicaid was increased. Is this a stealth tax to pay Medicaid? I am beyond upset at this.
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