There’s something ironic (not pleasant, but ironic) about Tax Freedom Day this year occuring on April 17 — the same day taxes are due. The day, according to the Tax Foundation, is when people finally work long enough to pay their taxes for the year.
The latest Tax Freedom Day took place on May 1, 2000. With the economy booming that year, Americans paid 33% of their total income in taxes. A century earlier was more pleasant with "freedom" arriving on January 22, 1900.
State tax burdens vary the tax timeframe. Indiana residents will "celebrate" on April 14, which ranks 26th nationally. As for the best of 2012:
- Tennessee, March 31
- Louisiana and Mississippi, April 1 (no foolin’)
- South Carolina, April 3
- South Dakota, April 4
And the worst:
- Connecticut, May 5
- New Jersey and New York, May 1
- Washington, April 24
- Wyoming and Illinois, April 23