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13 April 2010

Oxford: Claims put forward about so-called "Tax Freedom Day" must be challenged

Since much misinformation is generated around the April 15 tax filing deadline each year – in press releases and letters to the editor – I wanted you to have this fact sheet debunking the Tax Foundation's claims about "Tax Freedom Day." The report points out the major flaws in the foundation's claims:
  • They misrepresent the day until which the typical or average American must work to pay his or her taxes According to the CBO, some 80 percent of U.S. households pay a smaller share of their incomes in federal taxes than the overall federal effective tax rate that the Tax Foundation uses for their calculations.
  • Their contention that we work part of the year for the government and part of the year for ourselves is also a misrepresentation. As the Center on Budget and Policy Priorities fact sheet states "Government revenues also fund Social Security payments that enable elderly households to pay for food, clothing, and housing. Moreover, government revenues fund roads and bridges needed for private transportation purchases (e.g. cars) to have value. And they fund the educational system, justice system, and other basic infrastructure without which Americans would not be able to earn the incomes they currently do at the jobs they currently hold."
Taxes are investments in the common good when governments act responsibly.

See related: Debunking Tax Freedom Day

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