This article appeared online at TheNewAmerican.com on Monday, April 16, 2018:
Tax Freedom Day, which “represents how long Americans as a whole have to work in order to pay the nation’s tax burden,” falls this year on April 19 according to the Tax Foundation.
With Americans focused on paying their income taxes by April 17, this year’s deadline, the release from the Tax Foundation last week likely gives them little comfort. The average American worker will have to work until April 19 — 109 days — to pay all of his taxes: federal, state, local and municipal. That’s just three days fewer than last year, thanks to Trump’s tax reform law. Put another way, the total tax bill of $5.2 trillion soaks up more than a quarter of the economy’s total gross annual output.
According to the foundation,