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...
- U.S. News & World Report cites Tax Freedom Day
U.S. News & World Report cites Tax Freedom Day
The Pain of Tax Day Is Only Getting Worse
By Mike Whalen
This week, millions of Americans were painfully reminded of just how much of their hard-earned money goes to fund Uncle Sam's spending addiction. Tax Day was on Tuesday, April 17, the deadline for filing taxes for 2012. As the Heritage Foundation points out, April 17 was also Tax Freedom Day: the day when Americans finally earn enough income to pay off the bill for all federal, state, and local taxes for the year. It was four days later than last year, due to higher taxes, according to the nonpartisan Tax Foundation.
Full article here.
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