April 11th Is Illinois Tax Freedom Day

Tax Freedom Day

by Brian Costin

Every year, The Tax Foundation calculates by state how much the average citizen pays in local, state, and federal taxes.

Unfortunately, to pay our tax burden Illinois’s citizens will work two more days this year than the average U.S. citizen. Illinois’s citizens overall tax burden is the 14th highest in the nation.

Overall, Americans will pay more taxes in 2010 than they will spend on food, clothing and shelter combined.

“Tax Freedom Day – the date on which Americans will have worked long enough to have earned enough money to pay this year’s tax obligations at the federal, state and local levels – will fall on Sunday, April 11, 2010 for residents of Illinois. The date for all Americans will be Friday, April 9, 2010.”

Illinois’s citizens work 101 days out of the year, or 27.7% of all of our income, to pay for the local, state, and federal taxes.

With tax increases on the way from the recently passed health care bill in the U.S. Congress, and Gov. Quinn proposing tax increases on individuals and businesses, Tax Freedom Day next year likely be even later.