Happy Tax Freedom Day

Happy Tax Freedom Day! It has taken us just 99 days to get here, but today, Americans will celebrate Tax Freedom Day. Tax Freedom Day marks the day that taxpayers have earned enough money to pay their taxes for the year. This year, US taxpayers have to work nearly 100 days before they have earned enough money to pay for this year's federal, state, and local tax obligations.

The idea of Tax Freedom Day was conceived in 1948 by Florida businessman Dallas Hostetler. Hostetler eventually transferred the trademarked day to the Tax Foundation, which has calculated Tax Freedom Day for various nations and the states ever since.