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Tax Freedom Day is April 24

According to the Tax Foundation, "Tax Freedom Day," or "the day when the nation as a whole has earned enough money to pay its total tax bill for the year" will fall on April 24th this year, one day later than in 2014.

The Tax Foundation has an interesting (depressing?) study of the nation's tax burden, which can be found here.

Some key takeaways:

  • Americans will collectively spend more on taxes in 2015 than they will on food, clothing, and housing combined.
  • If you include annual federal borrowing, which represents future taxes owed, Tax Freedom Day would occur 14 days later on May 8.

Read the whole study here.

 


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