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Published on May 2, 2012
"What's a tax freedom day, you ask? It's an intuitively graspable measure of the tax burden on Americans. Pretend you start earning income on January 1st and save every penny. We can further pretend that you'll earn exactly the same amount of income each day of the year. Tax freedom day would be that day when all your accumulated earnings for the year would be sufficient to fully pay your entire federal, state and local tax bills."