Beth Ann Mumford From Americans For Prosperity: Tax Freedom Day Keeps Creeping Forward
PHILADELPHIA (CBS) -- Beth Anne Mumford from Americans for Prosperity of Pennsylvania spoke with Talk Radio 1210 WPHT morning host Chris Stigall about Tax Freedom Day, which is the day that theoretically the nation has earned enough money to pay off its tax burden for that year. This year it falls on April 24th.
"Tax Freedom Day is a day later than it was last year and that day keeps creeping forward as ever. Taxes go up because we continue to pay more and more out of our pockets to state, local and federal taxes to fund the government that we have instead of being able to keep that money in our pockets and spend within our homes the way that we choose which we all know that people do a much better job at spending their own money than the government does spending their money."
While many people think of only wage related taxes when it comes to paying federal taxes, Mumford explains that it is much more than that.
"From income tax, state, local, federal taxes, payroll taxes, excise taxes, corporate taxes, property taxes, all of those things add up and certainly make it much more difficult for families to do the things they want to do in their daily lives… In 2015, Americans will pay $3.3 trillion in federal taxes and $1.4 trillion in state and local taxes…every family will spend more on taxes than they will on food, clothing, and housing combined."
She is concerned by how far in to the calendar Tax Freedom Day has come.
"At the beginning of America we paid about 5% of our income in taxes. Tax Freedom Day was like January 22nd, so just think about how that has creeped forward. In some states it's even into May (New York, New Jersey, California, Massachusetts, Connecticut, and Maryland)."
Pennsylvania's Tax Freedom Day this year is April 25th.
