Friday, April 5, 2013

Trader Tax Freedom Day

It appears that April 18th will be the so-called Tax Freedom Day this year. The average tax source walking the street on that day will feel a shutter then some relief because they will have earned enough to pay their 'fair' share of the federal, state and local 'investment' in society. It was April 13th last year - so in breathing days that is almost a 5% increase. Thought for the day: Has your value received from your elected officials and governmental employees increased by 5% over last year? Thinking that is not too bad? Well, if the borrowed debt that you should pay, rather than your kids will pay, is included then Tax Freedom Day would occur on May 9th. That extra 21 days would make the increase over 25% from last year. In 1945 while World War II was raging, Tax Freedom Day occurred on May 12th. So in a time of peace we are spending as much as we did on a world war. Some thoughts: Are we now spending more in taxes than on necessities such as food, clothing, and housing? Will we be classified as surfs once the effective date approaches the 50% mark, i.e. July 1st. Will we need to rename the national holiday of July 4th to Dependence Day?

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