Tax Freedom Day
… has to rank high up there as one of those biggest oxymoron phrases of all time… it is just plain wrong.
This is in the Honolulu Advertiser’s Business Briefs today… small to no comfort at all (and no, I have not yet filed my own Income Tax Return for 2007 - yuck. Not giving my money to Uncle Sam any earlier than I have to.)
Hawai’i’s so-called “Tax Freedom Day” is April 26 this year.
That’s the projection of a ranking that attempts to boil down taxpayer burden by identifying how many days Hawai’i residents will have to work to pay their federal, state and local taxes. This year the day falls five days earlier than last year.
The analysis by the Tax Foundation shows nationally that Tax Freedom Day is projected to arrive on April 23 for the country as a whole, or three days earlier than in 2007. The group said a slowing economy and the upcoming federal tax stimulus payments are contributing to lower tax burdens.
Just happened to tag this on Del.icio.us before skimming the Honolulu Advertiser: How to pay zero taxes on CNN Money.com… that one link will lead to a bunch of others about financial literacy and taxes in 2008 if you are an American citizen.
Before you get too excited, the tagline is, Nearly 50 million Americans do it. But once you see how, you’ll be glad you’re not one of them. Well, if nothing else, the article will help you proofread your return!
