This year Tax Freedom Day arrived on Wednesday, April 23, 2008. What is tax freedom day? That is the day that Americans stop working for the government, and start working for themselves. Just think about it, all the money that you have earned up until last Wednesday, went to pay taxes. Not just federal income taxes, but state income taxes, payroll taxes, corporate taxes, sales taxes and property taxes.
Every year The Tax Foundation calculates Tax Freedom Day. They ask “What price is the nation paying for government?” The answer is shocking. Americans pay more for taxes than for food, clothing and housing combined. About 33% of all income goes towards maintaining the government.