Whatever you are thinking about never paying for tax, drop it now. This is not about failing top pay tax as I don’t want any of you ending up like Wesley Snipes who got three years in federal prison after willful failure to file income taxes. The term for today is Tax Freedom Day.

It goes like this: in theory, the time it takes an average American to earn enough money to pay for his or her taxes for the entire year is used to determine the Tax Freedom Day. This year, it is calculated that April 23 is Tax Freedom Day.

This entry was posted on Friday, April 25th, 2008 at 5:00 am and is filed under Investing Basics. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.