| Tax Freedom Day |
|
Since 1920, the earliest day in the year for TFD was February 12, 1930 (11.7%) and the latest was May 3, 2000 (33.6%). For 2008, our TFD was April 23rd with an overall tax rate of 30.8%. |
| Tax Freedom Day |
|
Since 1920, the earliest day in the year for TFD was February 12, 1930 (11.7%) and the latest was May 3, 2000 (33.6%). For 2008, our TFD was April 23rd with an overall tax rate of 30.8%. |
Many are curious to know what the overall tax rate is for our national government. You can compute this in any given year by dividing the total of all taxes collected in the U.S. by the total of all the income earned in the country. This percentage can be used to determine the day of the year when your earnings are entirely your own. This is referred to as Tax Freedom Day (TFD).