CLT News Release
Thursday, May 4, 2017
Tax
Freedom Day in Mass. arrives tomorrow — 12 days late
Only NY, NJ and CT arrive later
FOR IMMEDIATE RELEASE
Contact: Chip Faulkner — 508-915-3665
The non-partisan Tax Foundation recently released its annual
Tax Freedom Day report. This year Tax Freedom Day nationwide fell
on April 23rd, 113 days into the year.
In Massachusetts it arrives 12 days later, tomorrow on May 5th — ahead
of only New York (May 11), New Jersey (May 13), and Connecticut (May
21).
According to the Tax Foundation, this "is a significant date for
taxpayers and lawmakers because it represents how long Americans as a
whole have to work in order to pay the nation’s tax burden."
Taxpayers of Massachusetts ranked 47th-latest in how long Americans as a
whole have to work in order to just pay their federal, state, and local
tax burdens.
According to the Tax Foundation:
● Americans will pay $3.5 trillion in federal taxes and $1.6 trillion
in state and local taxes, for a total bill of more than $5.1 trillion,
or 31 percent of the nation’s income.
● Americans will collectively spend more on taxes in 2017 than they
will on food, clothing, and housing combined.
● If you include annual federal borrowing, which represents future
taxes owed, Tax Freedom Day would occur 14 days later, on May 7.
● This year, Americans will work the longest—46 days—to pay federal,
state, and local individual income taxes. Payroll taxes will take 26
days to pay, followed by sales and excise taxes (15 days), corporate
income taxes (10 days), and property taxes (10 days). The remaining six
days are spent paying estate and inheritance taxes, customs duties, and
other taxes.
Massachusetts taxpayers will work 125 days just to pay their taxes — 12
days longer than the national average.
This again proves that Massachusetts does NOT have a revenue problem.
Beacon Hill has an INSATIABLE SPENDING ADDICTION.
The Legislature's recent obscene $18 million pay grab is clear and
undeniable evidence.
Click here or image above to enlarge
Citizens for Limited Taxation ▪ PO
Box 1147 ▪ Marblehead, MA 01945
▪ 508-915-3665
