April 23, 2008 is Tax Freedom Day in the United States. That's the day that the nation, as a whole, has theoretically earned enough income to cover its annual tax burden. In other words, every penny that you earned until that day has gone to cover what you would normally shell out for taxes over the course of the year. Everything earned after that is yours to spend however you would like.
In Canada, Tax Freedom Day won't hit until around June 20th.
Oh Canada,
Our home and over-taxed land .....
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Wednesday, April 23, 2008
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