Tax Freedom Day, the made-up holiday after which Americans start working for themselves, comes three days earlier this year thanks to a slowing economy and the $600-a-head tax-stimulus checks soon headed our way. By April 23, says the Tax Foundation, a research group, Americans will have earned enough, on average, to pay all of their federal, state and local tax obligations for the year.
The more you earn, of course, the later your freedom comes. Residents of the richest state, Connecticut, will toil away on government behalf until May 8, but those in the poorest, Mississippi, began earning real money on April 7.
A combination of moderate incomes and very low state and local taxes makes Alaskans the first to claim their tax freedom, this year on March 29.
Yeah, but it was still winter in Alaska on March 29. Wait, I'm from Michigan. It was still winter HERE on March 29 too!!! Yikes!!! ;-)
Let's pass the Fairtax - both in Michigan and Nationally and make Tax Freedom day January 1 !
Posted by: Uncle Joe | May 08, 2008 at 10:33 PM