In the Tuesday Wall Street Journal, Professor Alan Blinder wrote of his puzzlement at the very slow growth of productivity in the last three years. There is really no mystery. The rate of growth of investment in...
- The Tax Policy Blog
- Tax Freedom Day Arrives in Final Two States: Connecticut ...
Tax Freedom Day Arrives in Final Two States: Connecticut and New Jersey
Today, New Jersey and Connecticut are the last two states to reach Tax Freedom Day, the date on which residents in each state have earned enough collective income to pay off their total federal, state, and local tax bill.
For residents of the Constitution State and the Garden State, the date arrives 128 days into 2014 and 23 days after the federal tax filing deadline. Over a month ago, Louisiana (Mar 30), Mississippi (Apr 2), and South Dakota (Apr 4) were the first states to arrive.
The national Tax Freedom Day fell back on Apr 21, but the total tax burden borne by residents of different states varies considerably due to differing state tax policies and because of the progressivity of the federal tax system. This means a combination of higher-income and higher-tax states celebrate Tax Freedom Day later.
Subscribe to the Tax Foundation Newsletter
Join the Tax Foundation's fight for sound tax policy Go
About the Tax Policy Blog
The Tax Policy Blog is the official blog 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.