National Tax Freedom Day

Happy Tax Freedom Day to everyone. According to the Tax Foundation the average American pays 26.89% of their income in taxes. This naturally means that 26.89% of the year is spent earning money for the government rather than yourself. At 3:34AM this morning 26.89% of the year has passed, so assuming the government took all of your taxes at the beginning of the year, today would be the day that you are able to start keeping your wages for yourself. Those living in Alaska get to celebrate Tax Freedom Day early, as the lower state taxes allow them to celebrate on March 26. Connecticut residents have higher taxes and therefore cannot celebrate until April 27. See information for all 50 states at the TaxFoundation.org site.