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taxfoundation.org
When will Tax Freedom Day 2014 be?
kruijs in
Business
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Settled on 04/14/2014 12:09 Settled by
kruijsTax Freedom Day is three days later than last year due mainly to the country’s continued slow economic recovery, which is expected to boost tax revenue especially from the corporate, payroll, and individual income tax.
http://taxfoundation.org/article/tax-freedom-day-2014-april-21-three-days-later-last-year
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Background
Tax Freedom Day® 2013 arrived on April 18, five days later than last year, due mainly to the fiscal cliff deal that raised federal taxes on individual income and payroll. Additionally, the Affordable Care Act’s investment tax and excise tax went into effect. Finally, despite these tax increases, the economy is expected to continue its slow recovery, boosting profits, incomes, and tax revenues.
The latest ever Tax Freedom Day was May 1, 2000 - meaning Americans paid 33.0 percent of their total income in taxes. A century earlier, in 1900, Americans paid only 5.9 percent of their income in taxes, meaning Tax Freedom Day came on January 22.
http://www.taxfoundation.org/taxfreedomday/
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