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Topic: Tax Freedom Day


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Tax

In the News (Thu 25 Apr 19)

  
  Tax Freedom Day - Wikipedia, the free encyclopedia
Tax Freedom Day is the first day of the year in which a nation as a whole has earned enough income to pay its annual tax burden.
Tax Freedom Day in Canada is reported by the pro-market think tank the Frasier Institute.
Tax Freedom Day in Canada reached its latest date in 2000 when it fell on July 2 after a rapid plunge to June 25 in 2001, it has steadily increased since due to rising economic growth and tax collections.
en.wikipedia.org /wiki/Tax_Freedom_Day   (471 words)

  
 Tax Freedom Day Info - Encyclopedia WikiWhat.com   (Site not responding. Last check: 2007-11-03)
Tax Freedom Day is the first day of the year in which a person (or population) has earned enough money to pay all his or her (or their) annual taxes.
In the United States, Tax Freedom Day for 2003 was April 19, the lowest since 1992.
In Denmark, Tax Freedom Day for 2001 was August 14.
www.wikiwhat.com /encyclopedia/t/ta/tax_freedom_day.html   (394 words)

  
 Reference.com/Encyclopedia/Tax
A tax is an involuntary fee paid by individuals or businesses to a state, or to functional equivalents of a state, including tribes, secessionist movements or revolutionary movements.
Taxes may be paid in cash or in kind or as corvee labor.
Examples of retirement taxes include the FICA tax, a payroll tax that is collected from employers and employees in the United States to fund the country's Social Security system; and the National Insurance Contributions (NICs) collected from employers and employees in the United Kingdom to fund the country's national insurance system.
www.reference.com /browse/wiki/Tax   (4876 words)

  
 BBC NEWS | Business | What is 'Tax freedom day'?
Tax Freedom Day is the day on which the average UK taxpayer can expect to stop working for the government and instead begin earning money for him or herself.
For example, tax freedom day in 2002 fell on 5 June, which means that for an average British taxpayer all the money earned in the first 157 days went to the government in taxes and other deductions.
In 1997, tax freedom day fell on 27 May. A year later it was 1 June; In 1999 it was 4 June and in 2000 it fell on 9 June.
news.bbc.co.uk /1/hi/business/2968930.stm   (421 words)

  
 The Tax Foundation - America Celebrates Tax Freedom Day®   (Site not responding. Last check: 2007-11-03)
However, 2006’s Tax Freedom Day is still considerably earlier than it was in 2000, when the economic boom, the tech bubble and higher tax rates pushed tax burdens to a record high, and Tax Freedom Day was postponed until May 3.
In most of these states, Tax Freedom Day is early because of a large number of low-income taxpayers who pay most of their federal income taxes at the lower rates, 10% and 15%.
Tax Freedom Day is calculated by dividing the official government tally of all taxes collected in each year by the official government tally of all income earned in each year.
www.taxfoundation.org /taxfreedomday.html   (1312 words)

  
 Fraser Institute - Canadians Celebrate Tax Freedom Day on June 26th   (Site not responding. Last check: 2007-11-03)
While the tax rate (total taxes as a percentage of cash income) that the average Canadian family faces is unchanged from last year, Tax Freedom Day falls one day later as a result of the leap year in 2004.
Tax Freedom Day fell on June 19 in 2001, June 23 in 2002, June 24 in 2003, and June 25 in 2004.
Ontario’s Tax Freedom Day comes one day later in 2005, after a three-day increase from 2003 to 2004, the result of increases in numerous taxes and the introduction of the Ontario Health Premium.
www.fraserinstitute.ca /shared/readmore.asp?sNav=nr&id=672   (1328 words)

  
 ipedia.com: Tax Freedom Day Article   (Site not responding. Last check: 2007-11-03)
Tax Freedom Day is the first day of the year in which a person has earned enough money to pay all his or her annual taxes.
In the United States, Tax Freedom Day for 2003 was April 19, the earliest since 1992.
Finally, one can argue that in any year in which the government runs a budget deficit, tax freedom day never really occurs: all that happens is that on a certain day, the source of government funding shifts from present-day taxation to borrowing against future taxation.
www.ipedia.com /tax_freedom_day.html   (484 words)

  
 Canadians Celebrate Tax Freedom Day on June 30
Tax Freedom Day is the day of the year that Canadians finally start working for themselves.
The Atlantic provinces historically have the earliest Tax Freedom Days due, in part, to the large share of their total revenue that comes from other provinces through the federal government (Table 9).
The 5 day improvement in this year's national Tax Freedom Day is to some extent a result of more prudent fiscal conduct by the various levels of government as witnessed by the fact that 7 provinces and the federal government expect to have balanced budgets this year.
oldfraser.lexi.net /media/media_releases/2000/20000629.html   (1259 words)

  
 Jessica's Well Main Page   (Site not responding. Last check: 2007-11-03)
Today is a day that is dreaded by lots of folks: the day that their Federal income taxes are due.
Tax Freedom Day is somewhat earlier in Texas.
Tax Freedom Day marks the number of days that the average taxpayer has to work to pay off his/her annual tax burden from federal, state and local taxes.
www.jessicaswell.com /MT/archives/001971.html   (324 words)

  
 Tax Freedom Day
Tax Freedom Day (TFD) is the day you stop working for the government and start working for yourself.
It is an indirect tax where the government increases its spending not by taking money from the people (either as tax or by borrowing), but by lowering the purchasing power of money that people hold.
For 2000, the Tax Freedom Day for USA is May 3 and for Canada June 29.
www.ccsindia.org /people_pjs_tfd.asp   (896 words)

  
 Washington Bulletin by John J. Miller on Tax Freedom Day on National Review Online
This is the day "when Americans will finally have earned enough money to pay off their total tax bill for the year," according to the Tax Foundation, which calculates Tax Freedom Day annually.
Yesterday, for instance, was Tax Freedom Day in Arizona, Delaware, Nebraska, New Hampshire, and Ohio.
Alaska's Tax Freedom Day is the first in the nation, on April 8.
www.nationalreview.com /miller/miller042602.asp   (647 words)

  
 The Seattle Times: Editorials & Opinion: Notice a difference in your taxes?   (Site not responding. Last check: 2007-11-03)
Many Americans who already have done their taxes have noticed that the tax cut is substantial, and now the Tax Foundation bears it out.
"Tax Freedom Day," the theoretical date when the average American has earned enough to pay the year's taxes of all kinds, comes this year on April 11, the earliest date in 37 years.
As a result, the effective tax rate, which peaked in 2000 when Tax Freedom Day was May 2, has been rolled back by the largest amount in a century.
seattletimes.nwsource.com /html/editorialsopinion/2001899769_taxed10.html   (297 words)

  
 NASE Viewpoints:Tax Freedom Day
This elite group of tax paying (and paying … and paying … and paying) people who have to work longer for their tax freedom are the so-called backbone of the American economy.
While many W-2 earners receive the benefit of receiving health insurance tax free from their employers self employed people are only able to deduct 60 percent of their premium costs and then only after they have paid social security taxes on the full amount of premiums paid.
So while millions of Americans cheered their tax freedom on May 3rd, their millions of self-employed bothers and sisters will be waiting days, weeks and in some cases months before they finish working for Uncle Sam and all his varied kin in state and local governments.
www.nase.org /news/viewpoints/2001viewpoint_0515.asp   (1321 words)

  
 Talking Taxes: Tax Freedom Day?
For a long time, the Tax Foundation has been annually publicizing "Tax Freedom Day," billed as the day of the year when Americans have earned enough to pay all their taxes.
In any case, the tax freedom day report and website have an entire section on methodology that discusses all these issues which is available for anyone to read.
I'm not sure what the tax freedom day report said in previous years, but you can read the site for yourself -- they only use the word "average" once in main text of their press release (not counting FAQ) and it seems pretty fair to me: http://www.taxfoundation.org/taxfreedomday.html.
www.ctj.org /blog/2005/04/tax-freedom-day.html   (1265 words)

  
 Tax freedom day comes later - Apr. 12, 2006
Tax Foundation researchers calculate that Tax Freedom Day for American workers as a group will be April 26, three days later than last year and 10 days later than in 2003 and 2004.
Many of the states with late tax freedom days relative to the rest of the country tend to have areas with a high cost of living.
The Tax Foundation also compares the number of days Americans work to pay off all their taxes (116 days in 2006) with the number of days they work to afford food, clothing and housing (106 days combined), medical care (52 days), transportation (30 days), recreation (22 days) and other typical consumer expenditures (39 days).
money.cnn.com /2006/04/11/pf/taxes/taxfriendly_taxfreedom   (744 words)

  
 Tax freedom day 2005 comes April 17 - Apr. 11, 2005
That's the day when a state's residents have earned enough for the year to pay their annual bill from the taxman at the federal, state and local levels combined.
Not just their income taxes, but sales, property, fuel, luxury and other personal taxes, as well as the portion of business taxes that are passed along to residents through higher prices and lower wages.
Tax freedom day for the country as a whole is April 17, two days later than last year, according to the Tax Foundation, a nonpartisan, nonprofit policy research group that advocates, among other things, tax simplification.
money.cnn.com /2005/04/08/pf/taxes/tax_freedom   (599 words)

  
 BBC NEWS | Business | 'Tax Freedom Day' getting later
Sunday is the day when the average UK worker will have earned enough to pay off their annual tax bill.
In the US the theoretical Tax Freedom Day is on 11 April, while in the euro zone it is 28 June, the think-tank says.
Recent tax cuts there mean workers enjoyed their Tax Freedom Day on April 11, the earliest for 37 years.
news.bbc.co.uk /1/hi/business/3761255.stm   (321 words)

  
 Happy Tax Freedom Day! | Samizdata.net
Tax Freedom Day is a fiction, intended to dramatize the immense size of the bite, not an actual date at which the real bite ever "ends."
This whole notion of tax as "theft" is a piece of ideological sophistry, since most of the money is used to provide tax-payers with defence, policing, a legal system, a health system, etc., etc. Public provision of certain (not all) services ends up being cheaper and more efficient than private sector provision.
There is a Tax Freedom Day calculator for Canadians here, and for a comparison of TFD's in different countries have a look here.
www.samizdata.net /blog/archives/003582.html   (13845 words)

  
 Townhall.com :: Columns :: Newsweek Misses Tax Freedom Day by Jay Bryant - Apr 11, 2004   (Site not responding. Last check: 2007-11-03)
Just this week, the Tax Foundation released its annual calculation of Tax Freedom Day, the day when, to quote the Foundation's statement: "…Americans will finally have earned enough money to pay off their total tax bill for the year.
Tax Freedom Day, 2004, is the earliest it has been since 1967.
When you look at the chart, there's this uncanny connection between the peaks of Tax Freedom Day and the several recessions that have occurred over the forty-year period.
www.townhall.com /columnists/jaybryant/jb20040411.shtml   (920 words)

  
 Townhall.com :: Columns :: Paying taxes for months on end by Doug Bandow - May 16, 2005   (Site not responding. Last check: 2007-11-03)
Tax Freedom Day, as the Tax Foundation styles it, occurred on April 17.
The payroll tax is a bad tax for many reasons, but is linked to Social Security benefits, which are slightly skewed to low wager earners.
Thankfully, Tax Freedom Day has come, even for residents of Connecticut, who bear the nation's highest tax burden.
www.townhall.com /columnists/dougbandow/db20050516.shtml   (881 words)

  
 Hit and Run
Tax Freedom Day is supposed to mark the transition from the portion of the year during which "Americans work to pay taxes" to the part during which "they work to support themselves." It's a clever bit of libertarian propaganda, though one I'll confess I've always thought was based on a bit of a bullshit number.
But using these aggregates of total taxes and income skews the average up: The top ten percent of tax payers shouldered almost two-thirds of the federal income tax burden as of 2003.
Comment by: uncle sam at April 12, 2006 10:13 AM Well, perhaps we could identify a range of 8 days during which a large portion of the population reach tax freedom and turn it into a "Libertarian Hannukkah".
www.reason.com /hitandrun/2006/04/deconstructing_3.shtml   (2972 words)

  
 Weekly Column: Tax Freedom Day   (Site not responding. Last check: 2007-11-03)
April 15 was Tax Day, but Tax Freedom Day for the average American won't arrive until May 9 -- a day later than last year, and the latest day ever.
But 15 cents out of every tax dollar goes to pay the interest on the $5.4 trillion in debts we are carrying due to deficit spending in the past.
To put the burden in perspective, in 1913 Tax Freedom Day for America as a whole fell on January 30.
www.house.gov /petri/weekly/may02col.htm   (364 words)

  
 The Tax Foundation - Educating Taxpayers Since 1937   (Site not responding. Last check: 2007-11-03)
"In 2006, Tax Freedom Day will arrive three days later than last year and fully 10 days later than 2004," said President Scott A. Hodge, co-author of the study.
On the eve of the April 17 tax deadline, a new national survey commissioned by the Tax Foundation shows most U.S. adults think the federal tax system needs major changes or should be completely overhauled, and a majority are willing to give up some deductions in exchange for tax simplification.
As the April 17th tax-filing deadline approaches, the Tax Foundation has released a new "Fiscal Fact" detailing the growing number of Americans who will pay zero federal income tax in 2006 after taking advantage of deductions and credits.
www.taxfoundation.org   (425 words)

  
 Tax Freedom Day - AKG Tax's Best Tax Freedom Day Resources   (Site not responding. Last check: 2007-11-03)
Tax Facts Every year an independent tax watchdog group analyzes the average tax burden on Americans, and then calculates the "Tax Freedom Day".
Taxing questions answered about interest income, dividends and capital gains How to celebrate your personal tax freedom day earlier next year July 5, 2004 According to The Fraser Institute, the...
Tax Freedom Day 2004 According to Tax Foundation calculations using the latest government data on income and taxes, Tax Freedom DayÆ in 2004 will be celebrated on April 11th, the earliest Tax Freedom...
www.akgtax.com /taxfreedomday   (1106 words)

  
 Tax Freedom Day 2006 - It's 3rd June   (Site not responding. Last check: 2007-11-03)
Tax Freedom Day 2006 in on 3 June.
The March 2005 Budget moved Tax Freedom Day later by 3 days.
The March 2006 Budget means that this year we will have to work yet another three days for the government.
www.adamsmith.org /tax   (87 words)

  
 Observations: Tax Freedom Day nearly here
According to the Tax Foundation’s annual calculation, Tax Freedom Day falls on April 17 in 2005.
That means that every bit of labor exerted by every working individual in the country for the first 107 days of the year goes not to that person to buy the things he or she needs or wants, but to pay for government.
The Tax Foundation complies this data using the latest government data on income and taxes.
jsobservations.blogspot.com /2005/04/tax-freedom-day-nearly-here.html   (387 words)

  
 Tax Freedom Day Has Arrived!
The Tax Foundation took its analysis one step further and broke down the tax implications for each state (and the District of Columbia).
This year, Connecticut is the unlucky winner, bearing the nation's largest tax burden with a Tax Freedom Day of May 3.
On the opposite end of this spectrum is Alaska, which celebrated the earliest Tax Freedom Day on April 2.
www.newyorklife.com /cda/0,3254,8076,00.html   (487 words)

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