By Associated Press Saturday, May 3, 2014
BUFFALO, N.Y. (AP) – This Sunday, May 4, marks what a watchdog group calls “Tax Freedom Day” in New York.
It’s the day that New Yorkers will have earned enough to pay off their federal, state, and local tax bills for the year.
The Washington, D.C.-based Tax Foundation says New York is the 48th state to reach Tax Freedom Day. National Tax Freedom Day fell on April 21.
The earliest any state reached the milestone this year was March 30 in Louisiana. The latest will be May 9, in New Jersey and Connecticut.
Read the whole study here: http://taxfoundation.org/article/tax-freedom-day-2014-april-21-three-days-later-last-year
· How has Tax Freedom Day changed over time? (What has a century of progressivism done to our economic freedom?) The latest ever Tax Freedom Day was May 1, 2000, meaning Americans paid 33.0 percent of their total income in taxes. A century earlier, in 1900, Americans paid only 5.9 percent of their income in taxes, meaning Tax Freedom Day came on January 22!
· For 2014 Americans are forced to pay more in taxes than for food, clothing, and housing combined!