Get ready for “Tax Freedom Day.” This year it falls on April 24th, according to the Tax Foundation. It’s the day that the whole nation has worked long enough to pay off all federal, state and local taxes - 114 days at a collective tax rate of 31%. The government on all levels takes in about $5 trillion in taxes, according to the report from the foundation.
Because states vary on taxes, your tax freedom day may vary. In Texas our day is April 17, but Connecticut has to go all the way to May 21st. Not to worry, we have a boat load of politicians that are trying to get everyone paying enough that we will all be broke at the same time.
Resident Obama talks about income distribution or “share the wealth.” If he really wants to redistribute income, it is simple.
Quit taking my money from me!
PMO
©2016
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