Every year, someone with more time than I sits down and figures out, on average, when Americans start working for themselves. This year, today is that day: Tax Freedom Day.
The idea is this: Every year, the average American pays a certain amount in taxes. And at an average monthly income, it takes close to four months to pay that off. So the idea is that up until now this year, you have been working for the government — everything you have made so far this year will go to taxes.
Starting today, you are working for yourself. This year’s Tax Freedom Day has arrived a little early, since a slow economy and an expected tax rebate is reducing the overall tax burden.
So, Happy Tax Freedom Day!