Tax Freedom Day

Congratulations, America.  It's April 23 - you now have permission to start working for yourself.

Tax Freedom Day® will fall on April 23 in 2008, according to the Tax Foundation's annual calculation using the latest government data on income and taxes.
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“Government continues to dominate the American taxpayer’s budget,” said Tax Foundation president Scott Hodge. “Americans will still spend more on taxes in 2008 than they will spend on food, clothing and housing combined.”

In 2008, Americans will work 74 days to afford their federal taxes and 39 more days to pay state and local taxes. Meanwhile, buying food requires 35 days of work, clothing 13 days, and housing 60 days. Other major categories are health and medical care (50 days), transportation (29 days), and recreation (21 days).

If you live in the NY/NJ/CT tri-state area, please disregard.  You've got a couple weeks of servitude left.

Here's a fun fact.  Under President Clinton, Tax Freedom Day shifted from April 20 to May 3 (+13 days).  Under President Bush, it's moved up from May 3 to April 23 (-10 days).  Those were the biggest jumps forward and back in more than 60 years.  Only 4 Presidents of the last 11 managed to avoid delaying Tax Freedom (all hailing from the same party).

I know what you're going to ask.  And yes, there is a music video.