"Today is Tax Freedom Day, the day on which Americans will have earned enough money to pay all federal, state, and local taxes for the year:
Tax Freedom Day is the day when the nation as a whole has earned enough money to pay its total tax bill for the year.
Tax Freedom Day takes all federal, state, and local taxes and divides them by the nation’s income.
In 2015, Americans will pay $3.28 trillion in federal taxes and $1.57 trillion in state and local taxes, for a total tax bill of $4.85 trillion, or 31 percent of national income.
This year, Tax Freedom Day falls on April 24, or 114 days into the year.
This year, Americans will work the longest to pay federal, state, and local individual income taxes (43 days).
Payroll taxes will take 26 days to pay, followed by sales and excise taxes (15 days), corporate income taxes (12 days), and property taxes (11 days).
The remaining 7 days are spent paying estate and inheritance taxes, customs duties, and other taxes."
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