Tax Day; How much did you give up?

17 Apr

CNN reported two weeks ago on “Tax Freedom day”, which is today, which is coincidentally the final day for filing 2011 tax returns.

According to the story;

More than three months of your hard-earned wages are going straight to your tax bill this year.Americans will spend an average of 29% of their income on federal, state and local taxes in 2012.

And it means that most Americans are going to need to work 107 days just to be able to earn enough money to pay their taxes.

Impressive isn’t it? We’ve gone from Winter to Spring. Baseball season has started. We’ve celebrated Valentines, St. Patricks, and Easter holidays. And as of today, the average American has paid off their taxes for the year. Of course you wouldn’t know it since you’re paying your taxes every time you get a paycheck.

And is it worth it? As of today the United States government has $15.6 Trillion in debt.

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