The Tax Foundation, a tax-exempt educational foundation founded in 1937, estimates that only after April 11, 2010, will Illinois taxpayers finally be done paying for government.  We have the 14th latest Tax Freedom Day.  So, you are working until the 101st day of the year, about 30 percent of the year, for government not for yourself.

One big problem in all of this…deficit spending is not accounted for in determining Tax Freedom Day.  And with the recession, all tax collections are down, so watch for the date to be even farther into the year in years ahead.

If we were required to pay this year’s $1.3 trillion federal deficit, we would be working more than a month longer just to pay it off.  The national Tax Freedom Day, which is April 9, would then be May 17.

Our tax burden is a larger share of income than the average amount we spend on food, clothing, and shelter.

For comparison, our neighboring states’ Tax Freedom Days are April 3 in Kentucky, April 4 in Missouri and Iowa, and April 6 in Indiana.  The earliest Tax Freedom Day is in Alaska on March 26, and the last is in Connecticut on April 27.  The latest Tax Freedom Day ever was May 1, 2000.

The Tax Foundation determines Tax Freedom Day by taking into account all taxes paid (income taxes, payroll taxes, real estate taxes, sales taxes, etc.) and dividing that by income.  Most data is obtained from the Congressional Budget Office.

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