Tax Freedom Day
Phew! We made it through another year. This year seems to be a little tougher than last year. Yes, I know it's only the end of April. But for some reason this year feels a little tougher than last year. Maybe it was the birth of my new tax deduction daughter towards the end of last year.
What could it be? Wait, I know. Did you know that today, April 30th, is "Tax Freedom Day" or "TFD"? What is "TFD" you ask? It is the day by which you have made enough money to cover your taxes for the full year. Wow, I'm so relieved, I've made it through another year, now the IRS can leave me alone. Eight more months of feeling like I live in a tax-free haven. Like living in the Cayman Islands, or so I imagine, except for the weather I suppose, and the beaches, and....well...you get the point.
That's the good news.
Now here's the bad news: "TFD" was two days later this year than last. That means we have had to work two additional days this year to pay our "fair" share of taxes. That's not very good news. We're headed in the wrong direction. I hope by the time I retire I won't have to work into next year just to pay this year's taxes. Geez, I hope I don't have to work into next lifetime just to pay taxes from this lifetime. That would be horrible! Imagine it: you're 110 years old, lying on your death bed, and the nurse says you have a visitor. You're expecting to see the Grim Reaper when in fact it's Uncle Sam saying you can't die yet. You have to keep working. Up and out of bed, you've got bills to pay, taxes in fact! Yes, you've been retired for 30 years now, but you have to go down to the local Mickey D's, or Wal-Mart, and apply for a job so you can pay your taxes before you die! It's one vicious cycle, because the more you keep earning, the more you keep owing.
I should clarify that April 30th is the National Average. I just found this list which has the state-by-state "TFD", and now I'm depressed. I live in Taxachusetts Massachusetts and that means I have to work another week to pay my "fair share" of taxes. May 6th is "TFD" here in the Bay State. At least I don't live in Connecticut. Those suckers have to work another three weeks! "TFD" for them is May 20th. Good news for those of you "fortunate" enough to live in Alabama or Oklahoma; you've been living in tax-free bliss since April 12th.
I wouldn't mind paying my "fair share" if I felt my money was being well spent, but that's a subject for another day. In the meantime, for those who have already celebrated your "TFD", kick back and relax, and for the rest of us, "Get back to work!"
Finally, for those of you who have already celebrated your "TFD", please share your experiences, and for those of you who have not yet, tell us how do you intend to celebrate yours.
