Monday was Tax Freedom Day

Written by  Wednesday, 23 April 2014 09:20

  Monday was Tax Freedom Day, the date on which Americans have collectively earned enough income to pay off their total federal, state, and local tax bill.  It arrived  days later than last year and 111 days into 2014, according the nonpartisan Tax Foundation’s annual report.

 

The study’s key findings include:

  Tax Freedom Day is three days later than last year due mainly to the continuing economic recovery, which will boost federal tax revenue collected through the corporate, payroll, and individual income tax.

 

  Americans will spend more on taxes in 2014 than they will on food, clothing, and housing combined.

 

  Americans will pay $3 trillion in federal taxes and $1.5 trillion in state and local taxes, for a total bill of more than $4.5 trillion, or 30.2 percent of the nation’s income.

 

  Americans will spend 42 days working to pay off income taxes, 15 days for excise taxes, and 11 days for property taxes. 

 

  If you include annual federal borrowing, which represents future taxes owed, Tax Freedom Day would occur on May 6, 15 days later.

 

  Tax Freedom Day represents how long Americans as a whole must work in order to pay the nation’s tax burden.

 

  Historically, the date for Tax Freedom Day has fluctuated significantly. The earliest was January 22, 1900. 

 

 


Rate this item
(0 votes)
Login to post comments
Fair

94°F

Statesboro

Fair
Humidity: 45%
Wind: ESE at 5 mph
Tuesday
PM Thunderstorms
73°F / 93°F
Wednesday
Thunderstorms
71°F / 95°F
Thursday
Mostly sunny
69°F / 93°F
Friday
Scattered thunderstorms
70°F / 91°F
http://www.statesboro365.com/modules/mod_image_show_gk4/cache/banners.Advertise-Rock300gk-is-212.giflink
http://www.statesboro365.com/modules/mod_image_show_gk4/cache/banners.allyouneedtoknowgk-is-212.pnglink

Popular News

About Us

Georgia Eagle Media is home to six unique radio stations and with more than 330,000 people in our listening area, GEM can give your business the biggest bang for your advertising buck.

 

Georgia Eagle Media, Inc. Recruitment and EEO Information for

WPMX-FM, WMCD-FM, WHKN-FM, WZBX-FM, WWNS-AM, WPTB-AM, WSYL-AM
Studios in Statesboro and Sylvania, Georgia November 1, 2012-October 31, 2013
If you or your organization would like to receive information about employment opportunities with
Georgia Eagle Media, Inc. Statesboro and Sylvania based stations, please provide us with the name,
mailing address, e-mail address (if applicable), telephone number, fax number, and contact person
and identify the category or categories of vacancies for which you would like information:

Georgia Eagle Media, Inc. 561 E Olliff St Statesboro, GA 30458
(912) 764-5446
This email address is being protected from spambots. You need JavaScript enabled to view it.

Georgia Eagle Media, Inc. has in place a policy to provide equal employment opportunity to all
qualified individuals without regard to their race, color, religion, national origin, sex, age,
disability, or any other characteristic protected by law, in all personnel actions.

Georgia Eagle Media, Inc. owns seven Statesboro/Sylvania based radio stations that employ seven
full-time employees and four part- time employees for this cluster of stations.

Between November 1, 2012 and October 31, 2013, Georgia Eagle Media radio stations in Statesboro
filled one full-time (30 or more hours per week) position.