Today Wisconsin taxpayers received more bad news. The Tax Foundation in Washington D.C. has released its annual study on Tax Freedom Day. America’s Tax Freedom Day will fall on April 30 in 2007, two days later than last year. Tax Freedom Day in Wisconsin doesn’t arrive until May 2, the thirteenth latest Tax Freedom Day among all the states.
That means Wisconsinites will work more than four months of the year, from January 1 to May 2, before they have earned enough money to pay this year's tax obligations at the federal, state and local levels.
According to the Tax Foundation, "Americans will work longer to pay for government (120 days) than they will for food, clothing and housing combined (105 days). Since 1986 taxes have cost more than these basic necessities. In fact, Americans will work longer to afford federal taxes alone (79 days) than they will to afford housing (62 days).
In 2007 Americans will work another 41 days to afford their state and local taxes. That makes taxation a bigger financial burden than housing and household operation (62 days), health and medical care (52 days), food (30 days), transportation (30 days), recreation (22 days), or clothing and accessories (13 days).”
You can read more
here.
