Tax Tech: America Celebrates Tax Freedom Day
Tax Freedom Day will fall on April 30 in 2007, according to the Tax Foundation's annual calculation using the latest government data on income and taxes.
"Tax freedom will come two days later in 2007 than it did in 2006," said Tax Foundation President Scott A. Hodge, "and fully 12 days later than in 2003, when tax cuts caused Tax Freedom Day to arrive comparatively early, on April 18."
However, 2007's Tax Freedom Day is still slightly earlier than it was in 2000, when the economic boom, the tech bubble and higher tax rates pushed tax burdens to a record high, and Tax Freedom Day was postponed until May 5.
Image source: taxfoundation.org
(Props, Volokh Conspiracy.)