Tax Freedom days


3D person carrying the word tax isolated over a white background

What Is Tax Freedom Day?

Tax Freedom Day is the day when the nation as a whole has earned enough money to pay its total tax bill for the year. Tax Freedom Day takes all federal, state, and local taxes and divides them by the nation’s income. In 2015, Americans will pay $3.28 trillion in federal taxes and $1.57 trillion in state and local taxes, for a total tax bill of $4.85 trillion, or 31 percent of national income. This year, Tax Freedom Day falls on April 24, or 114 days into the year. See Tax Foundation_TFD_Report

And regarding the European countries?

Our public services in general are well run; but most of us feel they could be run better. According to some voices, inefficiency is rife. And in any system, there will always be ample room for efficiency gains and simple ‘quick wins’. Tax Freedom Days

So, in terms of spending taxes, the basic rule applies: we could be better, and we should be better. After all, the idea that you might spend the equivalent of 218 days every year working before you saw any personal benefit sounds daunting. Tax in some European countries might represent relatively good value for money, then: but that is never an excuse for inefficiency. economic-freedom-of-the-world-2015

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