April 11, 2005
"One of our favorite annual reports -- comparing the number of days Americans work to pay taxes to the number of days they work to support themselves -- reveals Tax Freedom Day this year falls on April 17. The Tax Foundation calculation shows tax freedom this year falls two days later than in 2004.
"'Despite all the tax cuts that the federal government has passed recently, Americans will still spend more on taxes than they spend on food, clothing and medical care combined,' says foundation President Scott Hodge, explaining that as economic growth pushes people into higher tax brackets, tax collections grow faster than incomes."