Tax Freedom Day

Yesterday was Tax Freedom Day (finally)!

Tax Freedom Day is the day when the nation as a whole has earned enough money to pay its total tax bill for the year. Tax Freedom Day takes all federal, state, and local taxes and divides them by the nation’s income. In 2015, Americans will pay $3.28 trillion in federal taxes and $1.57 trillion in state and local taxes, for a total tax bill of $4.85 trillion, or 31 percent of national income. This year, Tax Freedom Day falls on April 24, or 114 days into the year.

This year's cumulative tax bill is over 30% of total national income. That's more than we spend on housing, food, and clothing combined.

I don't know whether to laugh or cry...