Ah yes, that day is here for all Americans – the day of reckoning with the IRS. For those lucky enough to receive refunds you’ve probably already filed your taxes and today is just another day. For the rest of us, it’s a day of frantically turbo-taxing returns or last-minute calls to our accountants to figure out just how much to send to the IRS so we avoid a penalty, downloading forms for the 6 month extension to file and trips to the post office to make sure our extension requests are postmarked today. Oh taxes, how I hate you.
To commemorate this painful day here’s a bit of trivia for you:
- Tax Freedom Day for the 2010 Tax Year was April 9: That’s right, until 6 days ago you were working to pay your tax obligation. Now you can work for yourself.
- “Americans will pay more taxes in 2010 than they will spend on food, clothing and shelter combined.” http://www.taxfoundation.org/taxfreedomday/
- We have a history of “wealth redistribution” but “rich” meant RICH in colonial times: “By 1913, 36 States had ratified the 16th Amendment to the Constitution. In October, Congress passed a new income tax law with rates beginning at 1 percent and rising to 7 percent for taxpayers with income in excess of $500,000. Less than 1 percent of the population paid income tax at the time.” http://www.ustreas.gov/education/fact-sheets/taxes/ustax.shtml
- It could be worse: “By 1936 the lowest tax rate had reached 4 percent and the top rate was up to 79 percent.” http://www.ustreas.gov/education/fact-sheets/taxes/ustax.shtml (Emphasis added)
And on that note, I’m off to the post office.
Filed under: Misc. |