Replace All Federal Taxes on Income with the Fair Tax Act , HR 25
ActionAmerica Tax Freedom Day Clocks Updated for 2010
The Tax Foundation just announced Tax Freedom Day for 2010, as April 9. Using this new data, all of the ActionAmerica Tax Freedom Day Clocks have been up updated, to count down to or up from the newly calculated date.
The Tax Freedom Day Clocks continuously draw attention to how much of our hard work goes to fund the government. Prior to Tax Freedom Day, they count down the days till Tax Freedom. After Tax Freedom Day, they count up the number of days that you have actually been working for yourself. Tax Freedom Day is actually different for each state. For simplicity, the ActionAmerica Tax Freedom Day Clocks are based upon the national Tax Freedom Day.
The clocks are available in three forms - as JavaScript, appearing at the top of each page in the ActionAmerica Tax and Economy section, as a Macintosh Dashboard Widget and as a Flash Web Widget. The web widget, seen below, can be attached to postings on many forums, blogs and social networking sites (though not all sites allow the use of "object" or "embed" code that is necessary to do this). FYI, to post it on Ning sites, like this one, you must paste the object code into the post, while in HTML mode.
Many people don't realize just how much of their hard work goes to support the government. I hope that a lot of you will find this useful and will spread it around, to help enlighten as many taxpayers as possible, to the real cost of government.
For the purposes of this clock, ActionAmerica uses the Tax Foundation data to calculate the exact minute of Tax Freedom, so the clocks can count down in seconds. Some people say that's sadistic. But it's no more sadistic than our government forcing us to work for more than a quarter of the year, just to support them.
For those who are interested, the exact moment of Tax Freedom in 2010, is April 9 at 3:31AM.
Replies to This Discussion
-
Permalink Reply by Dan Hunt on
-
John
There is no such thing as tax freedom day. Businesses, like individuals, have taxes levied against their income. The difference is businesses consider those taxes as costs along with the cost of complying with the federal income tax code. Those costs are passed onto the consumer by including them into the price of their good and services at each stage of production. People are paying businesses income taxes everyday when they make a purchase.
-
Permalink Reply by John Gaver on
-
Actually, Dan, Tax Freedom Day includes ALL taxes. The only thing that it doesn't include is the huge compliance costs that businesses add into the cost of every product, along with those taxes
Tax Freedom Day is calculated by taking official government figures for total tax collections and dividing it by the nation's total income. That takes into account all personal and corporate income taxes at both federal and state levels, property taxes, sales taxes, gasoline taxes, liquor taxes, cigarette taxes... Well, you get the picture. It it is a tax, it is included, even if they are passed on in the price of retail items.
The calculation is as follows:
All taxes collected by any branch of government divided by all traceable income of any kind
(My understanding is that black market income is not included, unless it was laundered and reported. But don't quote me on that.)
-
Permalink Reply by Mark Schaff on -
How do you include the inbeded taxes that our put into each product as the materlal goes through the process of manufacturing and passed on?
-
-
Rather than trying to calculate all taxes by totaling up the taxes collected from all different types of taxes, the Tax Foundation uses government totals of all tax receipts, be they income, sales, property or other types of taxes. Every government tax authority, at every level of government, reports it's total collections every year. In other words, it's the bottom line on the government's accounts receivable report, less any interest earned. It doesn't matter where that money came from. If it's on the accounts receivable report and it's government, then it's tax. That's the most accurate number that you can get. It's not quite that simple, but it gives you the general idea.
-
-
But, isn't that just a ratio? Taxes/income. With all the tax cuts that they they put on when they tried to stimulate the economy, that ratio would drop. When the ratio drops, the freedom day is pushed earlier in the year.
And, it says nothing about expenditures. All taxes have to be collected from GDP. If you aren't generating any product (income), you have no way to collect taxes. People have to make money at some time in their career to pay for taxes. No matter if its property tax or income tax.
I think the ratio of expenditures/GDP would give a better idea when you have a freedom day. Then you have an idea about when the government stops redistributing wealth and the private sector does it through markets. Of course you would have to change the name to Citizen Freedom Day.
-
-
Actually, there is another Tax Freedom Day. The primary Tax Freedom Day, applies to what is paid in taxes this year alone, versus income. The other one is the Deficit-Included Tax Freedom Day, which shows what your eventual tax cost will be. This chart from the Tax Foundation site shows the difference.
The Deficit-Included Tax Freedom Day for 2010, is May 17.
Go to the Tax Foundation's
Tax Freedom Day page, to read an overview or read the Special Report, April 9th Is Tax Freedom Day®, to get the full picture. I read the whole thing and I have to admit that they are pretty fair and accurate, in their calculations of Tax Freedom Day and in explaining exactly what it represents.
-
-
BTW, here is the link to the detailed Tax Foundation's Tax Freedom Day 2010 Report:
http://www.taxfoundation.org/files/sr177.pdf
This report details how the data is collected and compiled.
© 2024 Created by Marilyn Rickert.
Powered by
