Three, two, one … And now All liabilities to the state paid off. At least this year. Now we are starting to gather on ourselves. June 11 is Tax Freedom Day, which is a symbolic date when we paid all taxes to the budget on average.
Pay all debts to the country
PIT, CIT, VAT, excise tax and probably a hundred other taxes. The thought starts to hurt my head. Almost half a year – it will take us to pay all debts to the country. And basically only forced ones. Thanks to the Center Sean Cole, every year the public realizes how much time and work we devote so that a machine called the “State” can work effectively. At least in theory …
There are no taxes that are not too high for the payer. The fact is, however, that in the past, the oppressed serf, paid for himself with a rigorous tax called tithe. Today, 10% seems absurdly low, because although we do not stand under the pillory of any brutal magnate, we give away almost half of what we produce.
Difficult to predict
Precisely to draw attention to the essence of this problem, for 22 years the Center Sean Cole announces when the day falls when the total Gross Domestic Product reaches all public expenditure. Calculating when tax freedom day falls is not an easy task. The tax burden consists of VAT, excise duties, local taxes, but also PIT and CIT. The problem is that these calculations are based on forecasted budget revenues in a given year – and it is in advance how much they will be.
The trend is certainly comforting – from year to year (for many) the greatest day of the year falls earlier and earlier. 11 June is a record, although one must definitely turn a blind eye to government boasting in this respect, because such an “early” date was determined by the earlier robbery of OFE.
Tax Freedom Day
And that you can, show examples from around the world. In the distant United States and Australia, but also quite close to Slovakia or Hungary, Tax Freedom Day falls in May. However, India set a record in the 21st century – in 2001, DWP was already celebrated in mid-March.
Unfortunately, this “holiday” remains only a symbol. In practice, the real Tax Freedom Day falls unfortunately only … on the day of death.