Tax Freedom Day Arrives on April 13
Friday, April 3rd, 2009According to a press release posted to its website at http://www.taxfoundation.org, the Tax Foundation announced that Tax Freedom Day® will arrive on April 13 this year, the 103rd day of 2009. That means that Americans will work about three and a half months of the year, from January 1 to April 13, before they have earned enough money to pay this year’s federal, state, and local tax obligations. This day falls two weeks earlier in 2009 than it did in 2007. The Tax Foundation offers two reasons for this early date: (1) the recession has reduced tax collections even faster than it has reduced income, and (2) the stimulus package includes large temporary tax cuts for 2009 and 2010.
