Reason Hit & Run pulls a line out of President Obama’s speech in Ghana this past weekend: No business wants to invest in a place where the government skims 20 percent off the top… If federal, state, and local taxes in the U.S. took only 20% of income, that would mean a Tax Freedom Day® of March 15. This year, taxes in the U.S. will account for 28.2% of our income. Tax Freedom Day fell on April 13, 2009, 103 days into the year. If you include the federal deficit, that would produce a date of May 29.
