Tax Freedom Day
What it is:
How it works (Example):
For example, according to the Tax Foundation, the average American had to work from January 1 to April 12 -- over 100 days -- in order to pay his or her 2011 tax bill.
Why it Matters:
When tax obligations on the average American rise, Tax Freedom Day gets later in the year. According to the Tax Foundation, the latest-ever Tax Freedom Day was May 1, 2000.