From George Runner:
Although the average American can celebrate Tax Freedom Day on April 18, Californians must wait nearly a week longer—until April 24—to join the celebration, says George Runner.
“Like it or not, Californians must work 114 days this year to pay federal, state and local taxes—that’s four more days than last year,” said Runner. “Higher taxes mean a real loss of freedom. It’s no wonder people are leaving our state.”
Tax Freedom Day, calculated annually by the Tax Foundation, is the day Americans have earned enough money to pay their annual tax obligations at the federal, state and local levels. This year’s national Tax Freedom Day arrives April 18, five days later than last year.
However, in California, Tax Freedom Day won’t arrive until April 24, four days later than last year and eight days later than two years ago. Compared to other states, California’s Tax Freedom Day is now the sixth latest in the nation, up from eleventh last year. Only Connecticut, New York, New Jersey, Massachusetts and Illinois have later dates.
“As bad as California’s rank is this year, the Legislature seems intent on making it even worse,” added Runner. “They’re churning out so many new taxes and fees it’s hard for the experts to keep up, let alone the average California taxpayer.”
Although the Tax Foundation considered the impact of Propositions 30 and 39, its calculation does not include California’s fire “fee,” lumber tax, nor the Franchise Tax Board’s recent retroactive tax hike on small business investors.
Learn more about Tax Freedom Day at www.taxfoundation.org/taxfreedomday.