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“Tax Freedom Day” is near an all-time extreme…
The Tax Foundation reports 2016’s Tax Freedom Day is April 24. That means every cent the average American has earned between New Year’s Day and April 24 will go to pay the taxman.
It’s about a week shy of the latest-ever Tax Freedom Day: May 1, 2000.
In 2016, Americans will spend more on taxes than on food, clothing, and housing—combined. That’s $4.9 trillion in federal, state, and local taxes… or 31% of national income.
You can see when Tax Freedom Day 2016 arrives in your home state—and other depressing tax statistics—right here.