Marvin S
04-16-2012, 06:35 PM
from: www.taxfoundation.org/taxfreedomday (http://www.taxfoundation.org/taxfreedomday)
With all the posting on taxes this should be useful ;-)
Americans will spend more in taxes in 2012 than they will on food, clothing & housing combined.
Americans will spend 15 days working to pay sales & excise taxes, 12 days to pay property taxes, & 7 days for other miscellaneous taxes (car, estate, severance, etc)
Individual income taxes represent about 40 days of work. These include US & state income taxes of which only 7 states do not levy an income tax.
Americans will work 11 days to pay their corporate taxes - taxes at the corporate level are only passed on to the consumer in the form of higher prices, lower dividends, lower wages & employment levels or a lower share value.
24 days to pay for social insurance (Medicare & Social Security)
Federal borrowing adds to the bill -
If you live in CT Tax Freedom day is May 5 - You're Number 1 :-P
if you live in LA Tax Freedom day is April 1 - You're Number 48 :cool:
If you live in WA with no income tax Tax Freedom day is April 24 - We're Number 4 :(
With all the posting on taxes this should be useful ;-)
Americans will spend more in taxes in 2012 than they will on food, clothing & housing combined.
Americans will spend 15 days working to pay sales & excise taxes, 12 days to pay property taxes, & 7 days for other miscellaneous taxes (car, estate, severance, etc)
Individual income taxes represent about 40 days of work. These include US & state income taxes of which only 7 states do not levy an income tax.
Americans will work 11 days to pay their corporate taxes - taxes at the corporate level are only passed on to the consumer in the form of higher prices, lower dividends, lower wages & employment levels or a lower share value.
24 days to pay for social insurance (Medicare & Social Security)
Federal borrowing adds to the bill -
If you live in CT Tax Freedom day is May 5 - You're Number 1 :-P
if you live in LA Tax Freedom day is April 1 - You're Number 48 :cool:
If you live in WA with no income tax Tax Freedom day is April 24 - We're Number 4 :(