Hey I missed this one this year! - Tilted Forum Project Discussion Community

Ustwo · 09-28-2004, 06:47 PM

Quote:

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.
What is Tax Freedom Day?

Tax Freedom Day is the day when Americans will finally have earned enough money to pay off their total tax bill for the year. Every dollar that’s officially called income by the government is counted, and every payment to the government that is officially considered a tax is counted. Taxes at all levels of government are included, whether levied by Uncle Sam or state and local governments.

Tax Freedom Day gives Americans an easy way to gauge the overall tax take, a task that can be quite daunting due to the multiplicity of taxes at each level of government, especially the "hidden" taxes and fees that are often buried in the cost of living. In effect, Tax Freedom Day provides taxpayers with a tax barometer that measures the total tax.

Wow tax freedom day at a all time low. I thought it was still in May! Thanks George, you have returned 21 days of my labor to me.

Rekna · 09-28-2004, 06:51 PM

And created a deficit that will be felt for a 100 years!

Ustwo · 09-28-2004, 06:52 PM

Quote:

Originally Posted by Rekna

And created a deficit that will be felt for a 100 years!

Lets stop giving people money to buy votes!
(btw the debt didn't disapear under Clinton)

Rekna · 09-28-2004, 06:54 PM

wow really Clinton wasn't able to erase trillions of dollers of debt in 8 years? HOW DARE HE! He did balance the budget....

ARTelevision · 09-28-2004, 07:29 PM

That's good news to me.
Thanks Ustwo.

cthulu23 · 09-28-2004, 07:33 PM

Can we have a source to that article? Also, the "buy votes" phrase is pretty ridiculous given the president's enormous expenditures. In fact, as far as disbursement of federal funding goes, Republican states are leading the way:

From a study by the Tax Foundation:

Quote:

The Tax Foundation has released a fascinating report showing which states benefit from federal tax and spending policies, and which states foot the bill.

The report shows that of the 32 states (and the District of Columbia) that are "winners" -- receiving more in federal spending than they pay in federal taxes -- 76% are Red States that voted for George Bush in 2000. Indeed, 17 of the 20 (85%) states receiving the most federal spending per dollar of federal taxes paid are Red States. Here are the Top 10 states that feed at the federal trough (with Red States highlighted in bold):

States Receiving Most in Federal Spending Per Dollar of Federal Taxes Paid:

1. D.C. ($6.17)
2. North Dakota ($2.03)
3. New Mexico ($1.89)
4. Mississippi ($1.84)
5. Alaska ($1.82)
6. West Virginia ($1.74)
7. Montana ($1.64)
8. Alabama ($1.61)
9. South Dakota ($1.59)
10. Arkansas ($1.53)

In contrast, of the 16 states that are "losers" -- receiving less in federal spending than they pay in federal taxes -- 69% are Blue States that voted for Al Gore in 2000. Indeed, 11 of the 14 (79%) of the states receiving the least federal spending per dollar of federal taxes paid are Blue States. Here are the Top 10 states that supply feed for the federal trough (with Blue States highlighted in bold):

States Receiving Least in Federal Spending Per Dollar of Federal Taxes Paid:

1. New Jersey ($0.62)
2. Connecticut ($0.64)
3. New Hampshire ($0.68)
4. Nevada ($0.73)
5. Illinois ($0.77)
6. Minnesota ($0.77)
7. Colorado ($0.79)
8. Massachusetts ($0.79)
9. California ($0.81)
10. New York ($0.81)

Two states -- Florida and Oregon (coincidentally, the two closest states in the 2000 Presidential election) -- received $1.00 in federal spending for each $1.00 in federal taxes paid.

Ustwo · 09-28-2004, 08:23 PM

Quote:

Originally Posted by ARTelevision

That's good news to me.
Thanks Ustwo.

As one working man to another, I'm glad to share

cthulu23 · 09-28-2004, 08:24 PM

Hey, Ustwo, did you know that your sig is so out of context as to be misleading? You might want to change that before someone gets the wrong idea.

09-28-2004, 07:29 PM	#5 (permalink)
ARTelevision I change Location: USA	That's good news to me. Thanks Ustwo. __________________ create evolution

09-28-2004, 06:51 PM	#2 (permalink)
Rekna Junkie	And created a deficit that will be felt for a 100 years!

09-28-2004, 06:54 PM	#4 (permalink)
Rekna Junkie	wow really Clinton wasn't able to erase trillions of dollers of debt in 8 years? HOW DARE HE! He did balance the budget....

09-28-2004, 08:24 PM	#8 (permalink)
cthulu23 Banned	Hey, Ustwo, did you know that your sig is so out of context as to be misleading? You might want to change that before someone gets the wrong idea.