Thursday was “Tax Freedom Day” and you...

Thursday was “Tax Freedom Day” and you are working for yourself the rest of the year. The Tax Foundation, a Washington research organization, estimates that if everything you earned were earmarked for taxes until your debt was paid, the average American would have been working for the government this year through May 4. That is the latest date since the foundation began making the calculation to emphasize the federal, state and local tax burden. The exercise assumes that all taxes, including those collected by business, are paid by individuals.