Tax Freedom Day
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Here’s a groovy idea, linked by Alex Singleton, who popped up out of nowhere last night and pointed at his site, which in turn points us towards: Tax Freedom Day.
It’s a simple idea: instead of working out how much of each wageslip you pay to the government each month, imagine you paid it all - 100% of every pay packet - from January 1st until you’d met your tax burden for the year. After that, you can keep 100% of all your pay for the rest of the year without paying any tax on it at all.
The day when you’d stop paying all of your money to the government and start being allowed to keep it is what the Institute calls Tax Freedom Day, and by tracking how early or how late in the year it falls, you can keep an eye on how well off you are - tax wise - under successive governments.
At the moment, Tax Freedom Day for the average employee is 30th May (151 days into the year). In the early 60s it was in late April. In 1982, it was 15 June.
More here.
If you liked that post, then try these...
Tea with the midnight weatherman on June 1st, 2003
Blowtorches and butter on May 20th, 2003
Politeness at the party on December 5th, 2005
Revisiting the past on May 21st, 2002
Deckchairs on April 1st, 2007
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