The 114th day, dubbed "Tax Freedom Day," is when Americans can consider their paychecks entirely theirs to keep for the rest of the year - theoretically at least.
Using the latest government data, the Tax Foundation divides total tax collections for the nation by total income. The result shows that Americans pay about 30.8% of their income toward taxes. And the 113 days from January 1 to April 23 represent about 30.8% of the year.
Don't get too excited, you've got about another 4.5 months before "you" begin to make money. Until then you're just "Dancin' for the man"!
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20% tax rate of nothing equals nothing. Will things get better.
The 114th day, dubbed "Tax Freedom Day," is when Americans can consider their paychecks entirely theirs to keep for the rest of the year - theoretically at least.
Using the latest government data, the Tax Foundation divides total tax collections for the nation by total income. The result shows that Americans pay about 30.8% of their income toward taxes. And the 113 days from January 1 to April 23 represent about 30.8% of the year.
Don't get too excited, you've got about another 4.5 months before "you" begin to make money. Until then you're just "Dancin' for the man"!
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