TaxPersonal TaxTax freedom day finally arrives

Tax freedom day finally arrives

Adam Smith Institute calculates tax freedom day

The 31 May has been revealed as the point in the year when workers have
earned enough to pay off their share of tax, the
Adam Smith Institute has calculated.

This means it takes the average worker 152 days to earn enough money to cover
the total tax they will be liable for during 2007.

It is the exact same day as last year, but more than a week later than four
years ago – an indication of how heavily taxed workers are with more than
two-fifths of the typical earner’s wage goes to the government.

Dr Eamonn
Butler
, the director of the Adam Smith Institute, said: ‘The time cannot be
far off when a full half of everything we earn does disappear in taxes, as it
does in several countries in Europe’

Further reading:

It’s ‘tax freedom day’ today – three days late

‘Tax freedom’ a day later

Brown ignored tax credit pension warnings

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