“Taxpayer Independence Day” was Wednesday, April 20.
Taxpayer Independence Day is the first day in the calendar year that Florida taxpayers, on average, begin earning income that does not go toward federal, state or local taxes. In other words, every penny you earned, up until April 20, went to pay taxes! That means for the average Florida household, paying its taxes takes 110 out of 365 days, or more than three and a half months.
“Taxpayer Independence Day is certainly a celebration, but it truly shows Floridians the presence that different levels of government have in their daily lives, and in their paycheck,” said Florida TaxWatch President Dominic Calabro.
Florida is one of only seven states without a state income tax. This means that the largest burden on taxpayers in the Sunshine State is federal tax.
Federal tax burden continues to have the largest impact on Floridians. TaxWatch estimates federal taxes take up more than 70 percent of Floridians’ federal, state and local tax burden. For the average Floridian, that means a state tax burden of 16.7 percent and local tax burden of 13.3 percent of total taxes paid.
Put in more simple to understand words……. Based on Floridians’ average personal income a taxpayer must work two hours and 24 minutes each day to pay their taxes. This means that on average a taxpayer does not begin earning wages for themselves until 11:24 a.m. in a 9 a.m. – 5 p.m. workday. Satisfying the federal taxes alone requires one hour and 41 minutes of that time. Paying the state taxes requires an additional 24 minutes, and 19 minutes is needed for the local tax obligations. Paying taxes is the single largest expense incurred by citizens; more than food, housing and clothing combined.
Each state sees “Taxpayer Independence Day” on a different date. Florida’s date seems to fall somewhere in the middle. 27 other states had “Independence Day” before Florida and 22 states had “Independence Day” after Florida.
This year, Florida will contribute $274 billion in taxes to federal, state and local government. This is $13 billion more than last year.
Although Florida prides itself in not having state taxes and having a “tax-payer friendly” state by keeping the state and local tax burden low (compared to the federal tax burden) it should still make each one of us working tax-payers’ blood boil. We all just worked over three and a half months to help pad the pockets of wealthy representatives and government officials that are taking us to the cleaners. They sit with their fancy government paid cars, paid insurance (NOT ObamaCare), paid retirement, and the list goes on and on, while we, the “common folk,” work ourselves to death to pay for them and for the non-workers expecting hand-outs.
Not to mention that our national debt is not counted in Taxpayer Independence Day; our largest financial drain! I read an article recently that said it would take every household in America 15 months of income just to pay off the current gross federal debt of over $19 trillion dollars. What’s worse? Our politicians in Washington, D.C. continue spending and handing out freebies as if it were no concern. In all actuality, it really is no concern of theirs. They have thousands of dollars as an annual income and free everything. They don’t have to worry about our federal debt and working three and a half months for nothing.
Remember this when we go to the polls in a few months!
Now, enjoy your day – for you are finally working for yourself today!