{"id":6992,"date":"2016-04-12T23:40:42","date_gmt":"2016-04-13T04:40:42","guid":{"rendered":"https:\/\/digitalblogs.wpengine.com\/?p=6992"},"modified":"2019-09-30T18:53:43","modified_gmt":"2019-09-30T23:53:43","slug":"only-in-theory","status":"publish","type":"post","link":"https:\/\/www.cainwatters.com\/digitalblogs\/only-in-theory\/","title":{"rendered":"Only in Theory"},"content":{"rendered":"

\"TFD_charts_2016\"Freedom is only a couple of weeks away…<\/p>\n

Tax filing day falls on April 18 this year and most Americans, at least the ones who met the annual deadline, will breathe a sigh of relief to have it behind them. But what if we could breathe a collective\u00a0sigh of relief\u00a0about the nation\u2019s tax burden being lifted?<\/p>\n

That\u2019s exactly what Washington-based tax policy research orginization, the Tax Foundation<\/a>, would like us as a nation to be able to do exactly six days after next week’s individual filing deadline.<\/p>\n

April 24 marks\u00a0Tax Freedom Day<\/a>, the day, which in theory, people in the United States are\u00a0collectively\u00a0done working toward the nation\u2019s tax burden, according to the 80 year-old think tank. In theory, they say, it’s the day\u00a0the U.S. has earned enough income to pay its taxes.<\/p>\n

Because of lower tax collections as a proportion of the economy,\u00a0 this year’s Tax Freedom Day falls a day earlier than last year, however, by the 24th\u00a0Americans still will have contributed\u00a0114 days of work to collectively pay for the nation’s tax burden. \u00a0That works out to\u00a046 days toward\u00a0federal, state and local individual income taxes, 26 days for payroll taxes, 15 days for\u00a0sales and excise taxes, 11 days for property taxes, nine days for corporate income taxes and seven days for estate and inheritance taxes, customs duties and other taxes.<\/p>\n

Read more about\u00a0THE TAX\u00a0FOUNDATION \u00a0<\/a><\/p>\n

 <\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

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