Lord. Tax Freedom Day -- when we all will have handed over to the government enough money to have paid our average total tax bill for the year -- isn't until April 18 this year:
Tax Freedom Day is five days later than last year, due mainly to the fiscal cliff deal that raised federal taxes on individual income and payroll. Additionally, the Affordable Care Act’s investment tax and excise tax went into effect. Finally, despite these tax increases, the economy is expected to continue its slow recovery, boosting profits, incomes, and tax revenues.
That's from the Tax Foundatuion, which also notes that if federal borrowing were included in the calculation, another 21 days of handing over our income would have to be included.
