April 22, 2008

View the New Tax Freedom Day Video

Most people have heard of Tax Freedom Day® by now. For those who haven’t, Tax Freedom Day is the day on which Americans have earned enough money to pay all their federal, state and local taxes for the year. On Tax Freedom Day, we have earned enough to pay the government and we can finally start keeping our paychecks for ourselves and our families. It’s a great way to illustrate how much the nation as a whole pays in taxes. We also calculate a Tax Freedom Day for each state.

In 2008, Tax Freedom Day falls on April 23, which means American must work from January 1 until April 23—nearly a third of the year—just to pay taxes. That’s more than we spend on food, clothing and housing combined.

Every year we publish a report explaining what Tax Freedom Day is all about and how we calculate it. The report is available here (if you’d like a hard copy, just send us an e-mail with your name and address) and a paper explaining the methodology is available here. This year, in addition to the Tax Freedom Day report, we thought it would be fun to illustrate the concept in a different way. So if you’re done reading the report and you want to experience Tax Freedom Day in a whole new way, click here and take a look at our new YouTube video.