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Tomorrow is Arizona’s Tax Freedom Day, one of the most depressing ways to look at how much money you’re forking over to the government every year.
Tax Freedom Day, developed by the Tax Foundation think tank, illustrates how long it takes Americans to earn enough money to pay a year’s worth of taxes. Adding in specific state and local taxes, it also calculates each state’s Tax Freedom Day.
The national average is April 21. Arizona’s is April 11, making it the 10th state to reach the day. In comparison, the earliest Tax Freedom Day is in Louisiana, on March 30, and the last is Connecticut, which isn’t until May 9.
The methodology is complex, and includes taxes you more than likely don’t pay (and money you don’t earn). If you’re curious about your own personal Tax Freedom Day, there are online calculators for that.
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Meanwhile, Tax Day, which is pretty much the opposite of Tax Freedom Day, is on Tuesday, so don’t forget about that.
Got a tip? Send it to: Matthew Hendley. Follow Valley Fever on Twitter at @ValleyFeverPHX.
Follow Matthew Hendley at @MatthewHendley.
