Tax Guru – Ker$tetter Letter

Helping real people win the tax game.

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Archive for the ‘TaxBurden’ Category

Tax Freedom Day

Posted by taxguru on April 6, 2016

Washington DC has its Emancipation Day holiday to mark the anniversary of the signing of the Compensated Emancipation Act, which president Abraham Lincoln signed on April 16, 1862 to free the slaves in DC.

Every year, the Tax Foundation calculates the symbolic annual end of our slavery to all of the taxes we have to pay with Tax Freedom Day (TFD).  Obviously the actual day people reach the freedom of working for themselves instead of working to feed the Tax Beasts is technically different for everyone.  However, as an average nationwide, Tax Foundation has calculated TFD as April 24 this year.  That would be April 25 if this weren’t a Leap Year.

What I found even more interesting is this picture of the Tax Freedom Day by State.  It shows that residents of Mississippi have the earliest TFD, April 5 and with the latest TFD, the prize goes to Connecticut, where TFD is May 21.

Tax Foundation’s announcement and summary of Tax Freedom Day

The full report – 4 page PDF

Posted in TaxBurden | Comments Off on Tax Freedom Day

Comparing Tax Burdens

Posted by taxguru on July 21, 2015

Tax Foundation has released an interesting study on the average tax rates paid by workers in various countries, including here in the USA.

A Comparison of the Tax Burden on Labor in the OECD

They are showing an average tax rate in the USA of 31.5%.  Being an average, there are obviously some folks paying less and many people paying much higher rates, especially when considering State taxes and the penalties on those earning over certain amounts designated by our Rulers (aka the “Evil Rich”).

Posted in TaxBurden, TaxRates | Comments Off on Comparing Tax Burdens

Posted by taxguru on April 10, 2014

Tax Freedom Day® 2014 is April 21, Three Days Later Than Last Year – As calculated by the Tax Foundation, we are slaves working for the government for the first 111 days of the year.

 

Don’t Eat the Rich! Even Republicans are getting in on the class crusade. – The “Evil Rich” are too tempting a target for more and more of our short-sighted rulers.

 

Untaxed U.S. corporate profits held overseas top $2.1 trillion: study – It doesn’t take a rocket scientist to figure this out. Reduce USA tax rates and the corporate profits will magically materialize over here.

 

Taxing Life Away – Humorous observations from John Stossel on how the Tax Code affects so many aspects of our lives.

 

 

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Posted by taxguru on July 23, 2012

Ari Fleischer: The Latest News on Tax Fairness

A new Congressional Budget Office reports shows the share of taxes paid by the top 20% has gone up over the last 30 years, while the share of taxes paid by everyone else has gone down.

But, that’s not what the Dims and their media tell us. Who are we supposed to believe; the facts or the class warfare rhetoric?

 

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Why some consider taxation to be a form of slavery…

Posted by taxguru on July 13, 2012

Americans Will Work More than 6 Months to Pay Cost of Gov’t in 2012

The Cost of Government Center, an offshoot of Americans For Tax Reform, has issued its 2012 report on the tax burden of Americans.  Its Tax Freedom Day, when we are allowed to keep what we earn, is calculated as July 15 this year.

From Blog Pix

 

The full 48 page pdf is very interesting, with a lot of great graphs and looks at other tax proposals, such as the Buffet AMT scenario.

They also have this great chart of how much government taxes and regulations add to the cost of products and services on their Tax Bites page.

From Blog Pix

 

 

Posted in TaxBurden | Comments Off on Why some consider taxation to be a form of slavery…

Looking at our tax mess…

Posted by taxguru on November 28, 2011

I’m not endorsing Herman Cain or his 999 plan, but this video he put out has a good look at the deplorable state of our current tax system.  As always, identifying the problem is easy.  It’s just impossible for everyone to agree on a solution.

 

 

Posted in TaxBurden, TaxReform, video | Comments Off on Looking at our tax mess…

A depressing trend…

Posted by taxguru on September 19, 2011

Courtesy of Heritage Foundation:

From Tax Info

 

Of course, from a more selfish mercenary perspective, these upcoming tax hikes guarantee a never ending supply of new work for those of us in the profession of assisting clients legally minimize their taxes.

 

TaxCoach Software: Finally! Plain-English Tax Planning That Builds Your Business!

 

Posted in TaxBurden, TaxHikes | Comments Off on A depressing trend…

Does anyone actually believe their own taxes are too low?

Posted by taxguru on October 10, 2010

Of course, plenty of people think taxes are too low on the evil rich.

From Blog Comix

 

Posted in TaxBurden | Comments Off on Does anyone actually believe their own taxes are too low?

Posted by taxguru on September 5, 2010

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Video – History Of Taxes

Posted by taxguru on July 8, 2010

I recently came across this interesting short history of income taxes in this country from Glenn Beck’s website. It even closes with a reference to the still very relevant “TaxMan” song by George Harrison.



Posted in TaxBurden, video | Comments Off on Video – History Of Taxes