State and local governments depend on many different types of taxes, one of which is known as an excise tax. Like general sales taxes, excise taxes are paid on the purchase of an item. But unlike sales taxes, excise...
- Graph: Tax Freedom Day Adjusted for the Federal Budget De...
Graph: Tax Freedom Day Adjusted for the Federal Budget Deficit, 1900-2012
Key Findings This year, Tax Freedom Day falls on April 24, or 114 days into the year. Americans will pay $3.3 trillion in federal taxes and $1.5 trillion in state and local taxes, for a total bill of more than $4.8 trillion, or 31 percent of...
For the most recent version of Tax Freedom Day, please follow this link. What is Tax Freedom Day®? Tax Freedom Day is the day when the nation as a whole has earned enough money to pay its total tax bill for year. A vivid, calendar-based...
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