Tags: tax | freedom | Connecticut | Molloy

Most Americans Should Use Binoculars to Look for Tax Freedom Day

By    |   Monday, 07 April 2014 11:18 AM

The state where residents have to work the longest before they reach Tax Freedom Day, the day when they have paid off their total tax bill for the year, is Connecticut, where it takes until May 13. But what about other states?

The non-profit Tax Foundation took a look at the longest and shortest periods by state before Americans are working for themselves and not the government each year.

Americans wanting to reduce their state and local tax burden should not be aiming their gaze toward the Northeast.

While Connecticut has the largest per-capita state/local tax burden at $7,150, New York comes in second ($6,622 and Tax Freedom Day is May 6), New Jersey is third (May 4), and Massachusetts is fourth (April 25).

Rounding out the high-tax states and their respective Tax Freedom Days are: Illinois (April 25); California (April 24); Minnesota (April 23); Maryland (April 21); Washington (April 20) and Virginia (April 20).

And which states have the earliest Tax Freedom Days? Answer: The South.

All of them have Tax Freedom days that precede the federal tax deadline of April 15.

Editor's Note: Seniors Scoop Up Unclaimed $20,500 Checks? (See if You qualify)

No. 1 is Mississippi with a state/local tax burden of $2,620 and a Tax Freedom Day of March 29; second is Louisiana with $2,872 (March 29); and Tennessee is third with April 2.

The others are South Carolina (April 3); New Mexico (April 3); South Dakota (April 4); Alabama (April 5); Arizona (April 5); Oklahoma (April 6); and Kentucky (April 6).

In Connecticut, Gov. Dannel Malloy has proposed sending $155 million in tax rebate checks to 2.7 million state residents a few weeks before his re-election vote in the fall, on the grounds it would help create jobs. But the rebates amount to only about $55 per person.


According to Chris Powell, managing editor at The Manchester Journal-Inquirer, “bribing voters with their own money is an old trick in politics.”

“On the state level a rebate of taxes can’t create jobs unless levying taxes destroys jobs in the first place, and no governor in Connecticut has raised taxes as much as Malloy has, with predictable effects on the state’s economy,” Powell said.

In an opinion piece for Reuters, anti-tax crusader Grover Norquist and Tennessee State Sen. Mark Green said Americans should not hold their breath for tax reform at the federal level because Democrats want it to come with higher tax revenues and Republicans do not.

“The United States needs tax reform and soon. Our corporate tax rate is 35 percent, while the European average is 25 percent. We are not competitive. Our individual tax code has rates too high and too many politically driven tax credits and deductions,” the pair wrote.

Editor's Note: Seniors Scoop Up Unclaimed $20,500 Checks? (See if You qualify)

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The state where residents have to work the longest before they reach Tax Freedom Day, the day when they have paid off their total tax bill for the year, is Connecticut, where it takes until May 13.
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2014-18-07
Monday, 07 April 2014 11:18 AM
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