Tax Freedom Day Comes on April 11 in 2004, Earliest Since 1967

Tax Foundation. org ^ | 2004 | unknown

[GailA]

Tax Freedom Day Comes on April 11 in 2004, Earliest Since 1967

Washington, D.C., April 7, 2004 — According to Tax Foundation calculations using the latest government data on income and taxes, Tax Freedom Day® in 2004 will be celebrated on April 11th, the earliest Tax Freedom Day for 37 years.

April 11th is three days earlier than 2003’s Tax Freedom Day of April 14 and an amazing 21 days earlier than in 2000, when the boom and bubble pushed tax burdens to a record high, and Tax Freedom Day was postponed until May 2 (see Figure 1).

"Federal tax cuts have made the average American tax burden lighter in 2004," said Tax Foundation President Scott Hodge. "Because the bubble in 1999 and 2000 boosted tax collections to artificially high levels, the drop since then is all the more dramatic. In fact, it is the biggest drop in America's tax burden for at least a century."

The report is Tax Foundation Special Report No. 129, "America Celebrates Tax Freedom Day®," by Hodge and Foundation Senior Economist Scott Moody. The report traces the course of America’s tax burden since 1900, examines the composition of today’s tax burden by type of tax, projects the future course of Tax Freedom Day and compares tax payments to other typical consumer expenditures.

[GailA]

Click here There are charts in article

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[John Thornton]

In fact, it is the biggest drop in America's tax burden for at least a century."

Quick--someone post the Daschole "deeply saddened" photo.

[GailA]

ping

[pop-aye]

Gosh, what will I do with my 3 days wages???

Contribute to the economy? Probably. Which will lead to more jobs... which will lead to more tax revenue for the government... which will....

John and Ted have got to be spinning like mad.....

how long till we hear the word "voodoo?"

[Constitution Day]

Quick--someone post the Daschole "deeply saddened" photo.

Even better:

[CSM]

We rank 20th with a Tax Freedom Date of April 10th. If you have Friday off, then tomorrow could be worth celebrating down town!

[John Thornton]

John Kerry assures us that he won't rest until Tax Freedom Day comes on December 31st.

[I still care]

Notice in the graph how the recessions follow tax peaks. Who woulda thunk it?

[Arrowhead1952]

Quick--someone post the Daschole "deeply saddened" photo.

Figured I may as well post both of these. TEE HEE! HEE!

[MeekOneGOP]

[freedomcrusader]

Congratulations to Alaska for having the earliest tax freedom day of all the 50 states.

[Doctor Stochastic]

Notice in the graph how the recessions follow tax peaks

Those thrown out of work by the recessions do not pay taxes thus reducing the tax peaks. {MODE: SPIN="OFF"}

[biblewonk]

Since I don't pay federal income taxes, my tax freedom day comes a lot earlier.

[Sinner6]

How do manage that?

[Sinner6]

How do you manage that?

[biblewonk]

Single income and 8 kids. Actually I get back more than I pay in.

[CSM]

Well, glad to see that some of my cash is going to a Freeper. I am thinking that my date is later as I pay about 50% of my income in various taxes.

[biblewonk]

Well, glad to see that some of my cash is going to a Freeper. I am thinking that my date is later as I pay about 50% of my income in various taxes.

Yipes! That's horrible. How could that be?

[CSM]

Single, no kids.