Every year, Americans celebrate Tax Freedom Day. Computed by the tax foundation, tax freedom day represents the
Question:
Every year, Americans celebrate "Tax Freedom Day." Computed by the tax foundation, tax freedom day represents the date on which the average taxpayer has paid off his or her taxes for the year. It is calculated by dividing the official government tally of all taxes collected in each year by all income earned in each year. In 2000, government (federal, state, and local) took 33.6 percent of all income, and Tax Freedom Day was May 3, the latest date ever. In 2009, it was April 13. Use the Internet to research the concept of the Tax Freedom Day. (Hint: Enter the keywords tax freedom day into an Internet search engine.) How does it explain what price the nation is paying for government?
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill