Congratulations, you’re now working for yourself. Prior to April 17, every penny you earned went to feed the monstrous federal government.
Tax Freedom Day arrived on April 17 this year – four days later than last year. The National Taxpayers Union calculates the number of days each American must work each year to pay their taxes. This year’s tax freedom day arrived four days later than it did the year before meaning Americans will work 107 days into the year to earn enough to cover their combined federal, state and local tax bills.
If the government raised taxes enough to cover budget deficits, Americans would need to work another month to cover their tax bills. The numbers the National Taxpayer’s Union releases every year at this time are startling.
A century ago, Americans paid only 5.9 percent of their income in taxes. Those days, Tax Freedom Day arrived in late January. One hundred years later, Americans are paying a third of their income in taxes.
Every dollar taxpayers send to the government is a dollar individuals can’t spend on their own. As National Tax Day whizzes by this year, we’re ask all taxpayers this: Who do you trust to spend that money more wisely? Yourself or your government?
In a few short months, local governing bodies including the cities and school districts will begin budget discussions for next year. We believe individuals are better equipped to spend the money they earn more wisely than bureaucrats. Keeping taxes low allows the free market to work its magic.
As budget season approaches, taxpayers, and that includes us, will be watching to ensure the National Tax Freedom Day arrives sooner rather than later each year.