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Article posted Apr 14 2013, 4:10 AM Category: Economy Source: Tax Foundation Print

Tax Freedom Day 2013 is April 18, Five Days Later Than Last Year


What is Tax Freedom Day?

Tax Freedom Day is the day when the nation as a whole has earned enough money to pay its total tax bill for the year. A vivid, calendar based illustration of the cost of government, Tax Freedom Day divides all federal, state, and local taxes by the nationís income. In 2013, Americans will pay $2.76 trillion in federal taxes and $1.45 trillion in state taxes, for a total tax bill of $4.22 trillion, or 29.4 percent of income. April 18 is 29.4 percent, or 108 days, into the year.

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