Yesterday was tax day all across the United States of America, which was another reminder to American families and American working men and women of the bite that the Federal Government takes out of household incomes. But there is another date that is also very, very significant, and that is May 7, to be exact, May 7, 1996. That is Tax Freedom Day in the United States of America. That means that the average American has had to work until May 7 just to pay his obligation for all Federal, State, and local taxes. Not until May 8, 1996, will the average American begin working for himself. This is the latest time during a calendar year that Tax Freedom Day has occurred. What that means is that the tax burden on Americans is heavier than it has ever been in the United States of America.
Editor's note · Context
Discussing the tax burden on Americans and the significance of Tax Freedom Day.
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