How much time do you spend working to pay your taxes? (VIDEO)

“We will allow you to keep some of it.”

 

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The Tax Foundation defines Tax Freedom Day is the day when the country has theoretically earned enough money to pay off its annual tax bill. For illustrative purposes, you might imagine Americans giving all of their income to the government from January 1st until Tax Freedom Day. You might also watch Remy Munasifi’s entertaining video on the subject below.

This year, Tax Freedom Day will fall on April 21, three days later than last year. Last year’s Tax Freedom Day, April 18th, was five days later than the preceding year.

Today’s tax system, of course, would have been inconceivable at the time of the founding. There was, for instance, no income tax before the Civil War, when both the Union and the Confederacy introduced an income tax to finance their war efforts. Like many government measures, the income tax was introduced to meet a temporary need but has continued to grow indefinitely.

In the words of Frank Chodorov, it is now accepted as the status quo that “the government says to the citizen: ‘Your earnings are not exclusively your own; we have a claim on them, and our claim precedes yours; we will allow you to keep some of it, because we recognize your need, not your right; but whatever we grant you for yourself is for us to decide.’”


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