The Obama Administration yesterday backed down from its plan to tax the earnings on 529 savings accounts, a kind of saving account for higher education under section 529 of the tax code. At Bloomberg, Richard Rubin and...
- The Tax Policy Blog
- Tax Freedom Day Makes Us Feel Like Singing
Tax Freedom Day Makes Us Feel Like Singing
Tax Freedom Day® is today, the 102nd day of 2011. This means that the nation as a whole has worked over three months before earning enough money to pay this year's federal, state and local tax bills. Americans will pay more in taxes in 2011 than they will spend on groceries, clothing and shelter combined.
A few years ago, in addition to the Tax Freedom Day report we publish every year, we thought it would be fun to illustrate the concept in a whole new way. So if you're done reading the report and you want to experience the musical version of Tax Freedom Day, take a look at our video.
Please note that this video was created in 2008, and the date of Tax Freedom Day 2008 has changed since then: We sometimes revise Tax Freedom Days retroactively when government data is revised or when we make minor methodological changes. The date may have changed, but the message is the same!
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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.