As part of his new tax plan, the president has proposed ending the “step-up” in tax basis for inherited assets, and, furthermore, requiring the capital gains tax to be paid at death rather than when an heir later sells...
- The Tax Policy Blog
- 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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