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Looks like we made it! From now until the end of the year you get to keep what you earn....
According to Tax Foundation calculations using the latest government data on income and taxes, Tax Freedom Day® in 2003 will be celebrated on April 19th.
Up until this date, all the money you earned this year goes to the government to pay taxes. AFter that day you get the rest. (On average)
http://www.taxfoundation.org/
[ May 21, 2003, 09:52 AM: Message edited by: Mandelon ]
Mandelon:
Looks like we made it! From now until the end of the year you get to keep what you earn....
According to Tax Foundation calculations using the latest government data on income and taxes, Tax Freedom Day® in 2003 will be celebrated on April 19th. That is the same date that Tax Freedom Day fell on during 2002, but 8 days earlier than in 2001, and 11 days earlier than in 2000 (see Figure 1 and Table 1).
According to preliminary data released by the Internal Revenue Service and a new Tax Foundation Special Report, the top-earning 25 percent of taxpayers earned more than two-thirds of the nation's income (67.3%) and paid more than five out of every six dollars collected by the federal income tax (84%) in 2000. There were 32 million tax returns in the top 25 percent, all with adjusted gross incomes (AGI) over $55,225.
The top one percent of U.S. taxpayers (annual income over $313,469) made 20.8 percent of the income earned in 2000 and paid 37.4 percent of the total federal individual income taxes collected that year. This fraction of the tax burden paid by the top one percent - well over a third of the total - is up from 25.1 percent ten years earlier in tax year 1990.
http://www.taxfoundation.org/ Huh?! English Please
OK, I took out the big words and all the confusing numbers.... :rolleyes:
I guess I'm still paying :( frown
Thats just federal taxes. I think all of us Californians need to work a little longer to pay our State taxes, vehicle license fees and property taxes. frown
If the Democrats have their way tax freedom day will be on Dec. 30th. In Calif there aren't enought days in the year for tax freedom day unless the year is 600 days long. yuk