Tax Freedom Day

As I get prepared to do my 2008 taxes, I read some rather depressing news. It will take American workers 103 days to earn enough to pay their 2009 taxes. Yes, that’s right 103 days! According to the Tax Foundation (a tax education group), everything after that is theoretically theirs to keep.

So, the money I’ve earned so far this year is all going to the government? Ugh!

The report states that April 13th is the earliest Tax Freedom Day since 1967 primarily because of the recession and the stimulus package. Even though Tax Freedom Day comes a little earlier than previous years, it’s still outrageous that it takes 103 days just to earn enough to pay your taxes — more than 3 months worth of salary down the drain. Depressing, indeed.

And it’s not going to get better anytime soon. Experts predict that in 2009 Americans will pay more in taxes than they will spend on food, clothing and housing combined.

Thanks, Obama.