by Mitch Kokai
Senior Political Analyst, John Locke Foundation
The Tax Foundation tells us that April 6 marks North Carolina’s Tax Freedom Day. That means that every day you’ve worked so far this year has been a day worked to pay off your tax bills. Now you can work the rest of the year to pay the rest of your bills — food, clothing, shelter, and so on.
The news could be worse: The national Tax Freedom Day is next Tuesday, April 12. People in Connecticut won’t reach their Tax Freedom Day until May 2.
But the news could be better as well: Mississippi reached Tax Freedom Day March 26, while neighbors Tennessee (March 27) and South Carolina (March 29) reached the milestone second and third, respectively.
And as Joseph Henchman, tax counsel and director of state projects for the Tax Foundation, mentions in the video clip below, Tax Freedom Day does not include federal government spending linked to deficits. Watch the video clip to hear Henchman explain how much later we’re working for government if we count deficit spending.