Today, for the first time in ten years, the U.S. House of Representatives has voted to repeal the federal estate tax. The final vote on HR 1105 was 240-179, with 233 Republicans and 7 Democrats voting yea. The bill was...
- Detroit News op-ed on Tax Freedom Day
Detroit News op-ed on Tax Freedom Day
Commentary: Tax Freedom Day comes too late
By Gretchen Hamel
Just how long do you have to work this year to meet your tax obligations to federal, state and local government?
It takes Americans an average of more than 100 days to achieve "tax freedom." This year, Tax Freedom Day in Michigan landed on April 14. That's according to the Tax Foundation, a Washington, D.C., think tank.
You will not be surprised to learn that Tax Freedom Day, over time, falls later and later on the calendar. In 1930, Americans earned their tax freedom as early as Feb. 12; since then, the date has crept deeper and deeper into March and April, and, in at least one year (2000), as late as May 1. (In recent years, Tax Freedom Day has shifted a few days or weeks earlier or later, depending on broader economic circumstances.)
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