Saturday, March 19, 2011

Still no Tax Freedom Day announced for 2011

The Tax Foundation has yet to announce the so-called Tax Freedom Day for 2011. That is the day on which the average American would pay off his/her total tax liability if all his/her salary would go straight towards their taxes.  In 2010, The foundation designated April 9th as that magic date. One reason for not having announced Tax Freedom Day for this year is that there have been some changes to the tax code under the Obama Administration. Also, during the previous congress's lame duck session, the "Bush tax cuts" for all Americans were extended for two more years. This will no doubt have an impact on calculating when Joe Six Pack (Joanna Wine Cooler) will pay off their tax liability for 2011. The Tax Foundation has been operating since 1937 and states it's mission statement as follows:

The mission of the Tax Foundation is to educate taxpayers about sound tax policy and the size of the tax burden borne by Americans at all levels of government. From its founding in 1937, the Tax Foundation has been grounded in the belief that the dissemination of basic information about government finance is the foundation of sound policy in a free society.
Please read more on their website:

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