In 2013, Americans will work five days longer than in 2012 to pay all of their taxes. The total tax bill at all levels comes to approximately $4.2 trillion, or 29.4% of their total income. That means taxpayers will pay more in taxes in 2013 than they will spend on food, clothing, and housing combined.
And though historically the date for Tax Freedom Day has fluctuated significantly, the trend is moving upward. To wit, in 1900 Americans paid only 5.9% of their income in taxes, meaning Tax Freedom Day came on January 22. In 2013 Tax Freedom Day was April 18, and if you adjust for our deficit, it was May 9.
