One of the provisions under consideration in the tax extenders discussion is a reinstatement of 50 percent bonus expensing for equipment. This would strengthen investment spending and boost the sluggish recovery. It has...
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- Happy Tax Freedom Day Canada, UK, Slovakia, and Italy
Happy Tax Freedom Day Canada, UK, Slovakia, and Italy
Happy belated Tax Freedom Day to our neighbors to the North. According to the Fraser Institute, June 6 marked Tax Freedom Day for Canada. As was the case here in the U.S., Canadians had to work two days longer this year to pay their tax bills because the improved economy boosted tax collections at all levels of government. However, if their tax bills were raised to equal the government's deficits this year, Canadian citizens would have to work 16 days longer to pay for the total cost of government.
Our friend Remy celebrated Canadian Tax Freedom Day in his own humorous way here on YouTube.
While we are at it, happy belated Tax Freedom Day to British taxpayers (May 30 according to the Adam Smith Institute), Slovakian taxpayers (June 3 according to the F.A. Hayek Foundation), and Italian taxpayers (June 5, hat tip to Tax-News.com).
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The Tax Policy Blog is the official weblog of the Tax Foundation, a non-partisan, non-profit research organization that has monitored tax policy at the federal, state and local levels since 1937. Our economists welcome your feedback. If you would like to send an e-mail to the author of a blog post, please click on that person's name to locate his or her e-mail address or visit our staff page here.