Americans work for the government until April 30

Posted on Thursday, Apr 12 2007 @ 10:10 CEST by Thomas De Maesschalck
There was a story on CNN last week on how long people in the U.S. work to pay all sort of taxes. The amount of days varies from state to state but the average seems to be 120 days.

This basically means that the first four months of the year you're only working to pay all your taxes. You can check it out at CNN for more information, they also provide numbers on a state-to-state basis. People in Oklahoma and Alabama only have to work 102 days for the government, people in Connecticut pay significantly more taxes and have to work 140 days to pay all taxes. For New York it's 136, California 127 and Florida 122.

Breaking that 120 days down, the Tax Foundation estimates it will take:
  • 43 days of work to pay off federal, state and local income taxes
  • 30 days to pay off payroll taxes (for Social Security and Medicare)
  • 16 days to pay off sales and excise taxes
  • 14 days to pay off corporate income taxes (This assumes that a tax on a business is passed on to its customers, employees and shareholders in terms of higher prices, lower paychecks and less shareholder value.)
  • 12 days to pay off property taxes
  • 4 days to pay off other taxes (e.g., customs duties)
  • 1 day to pay off estate and gift taxes
  • Here in Belgium we pay significantly more taxes, I believe my Tax Freedom Day is somewhere in June or July.

    About the Author

    Thomas De Maesschalck

    Thomas has been messing with computer since early childhood and firmly believes the Internet is the best thing since sliced bread. Enjoys playing with new tech, is fascinated by science, and passionate about financial markets. When not behind a computer, he can be found with running shoes on or lifting heavy weights in the weight room.

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