Today, April 13, Is Tax Freedom Day 2009
Today is this year's Tax Freedom Day. That's the average day when most of us have worked enough to pay off our federal tax burden. The Tax Foundation tells us it falls eight days earlier this year than last. Kind of hard to believe with all the spending going on but they explain it this way:
(1) the recession has reduced tax collections even faster than it has reduced income, and (2) the stimulus package includes large temporary tax cuts for 2009 and 2010. Nevertheless, Americans will pay more in taxes than they will spend on food, clothing and housing combined.How a stimulus package that hasn't even really gotten started yet can affect this year's taxes is puzzling. I guess it's in the way they do their figuring and they're looking forward.
Of course, the above refers to the nation as a whole. States all have their own Tax Freedom Day with Alaska having the lowest tax burden. Their Tax Freedom Day is the earliest: March 23.
California finds itself in the top five, which should come as no surprise. In fact I'm surprised we only rank 4th highest with our Tax Freedom Day landing on April 20 this year. The other top five states are (1)Connecticut, (2)New Jersey, (3)New York and (5)Maryland. You can see where the other states rank by scrolling down the Tax Freedom Day web page to the state table.
Anybody want to bet Tax Freedom Day comes later next year?
Had my usual scare a few weeks ago when I took my taxes in to be prepared. She did some quick calculations as she always does and came to the conclusion I owed more in taxes than I could pay. I was freaked and was trying to figure how I could deal with it.
Not to worry, though, at least not too much. When I went in to pick them up it was less than half of what she originally calculated. It still nearly cleans me out but at least I wouldn't have make installment payments.
That's actually a good business technique, whether she means it to be one, or not. Makes her the hero of the day knowing she saved you some money. I'd recommend Melinda to others but I don't believe she's accepting new clients at this time.
Locally, our very own Congressman Mike Thompson has a string of Fs in his ratings. I would of thought he'd get at least a D. Likewise our Senators Boxer and Feinstein both have a string of Fs. You can check other congresscritter's scores by searching the NTU database.