FOR IMMEDIATE RELEASE
Tax Freedom Day Clock 2008 now online.
With March 28 announcement of "Tax Freedom Day" for 2008, ActionAmerica.org has updated their live "Tax Freedom Day Clock" that counts the days till "Tax Freedom Day," to reflect the new date of April 22.
As a way to highlight how long we each must work, each year, just to pay our tax bill, ActionAmerica.org uses the latest Tax Freedom Day data, calculated by the Tax Foundation, to adjust their popular live "Tax Freedom Day Clock," found on the Internet at http://ActionAmerica.org/taxecon/taxfrdmclk.shtml .
On March 28, the Tax Foundation released the latest data, that sets the 2008 Tax Freedom Day on April 23. In order to avoid skewing their year-to-year charts each leap year, the Tax Foundation intentionally ignores leap day, in their calculations. When you include leap day in the same calculations, it shows that Tax Freedom actually occurs on April 22 at 5:13 PM, this year.
"Since ActionAmerica's Tax Freedom Day Clock is not concerned with year-to-year consistency," explained John Gaver, of ActionAmerica.org, "but rather with the actual time that Tax Freedom occurs each year, our Tax Freedom Day Clock uses the corrected time, up to the minute, including leap day."
Tax Freedom Day is the day when the average American has worked long enough to pay his taxes for that year. The Tax Freedom Day Clock counts the days until Tax Freedom Day or once Tax Freedom Day is passed, it counts the days that the government has allowed you to keep the money that you earn.
Gaver points out that due to different tax rates in each state, Tax Freedom actually occurs at a different time in each state and that the Tax Freedom Day Clock represents only an average of all states. Tax Freedom Day for each individual state may be found on the Tax Foundation web site (http://www.taxfoundation.org/taxfreedomday/).
ActionAmerica.org is a popular, non-profit, conservative/libertarian webzine, known for its uncompromising stand for original intent of the Constitution, the Rule of Law and for fiscal conservatism. ActionAmerica.org is also known for being a long term, outspoken supporter of the FAIR Tax, as the only responsible, fair and revenue neutral replacement for the income tax and IRS.
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