This is according to the good people at the Tax Foundation, which every year calculates Tax Freedom Day. The date is a national average. In states with high taxes, the day has not yet arrived. In states with relatively low taxes, the day has already come and gone.
Here’s a report excerpt:
Tax Freedom Day arrives three day later in 2011 than it did in 2010, but nearly two weeks earlier than in 2007. This shift toward a lower tax burden since 2007 has been driven by three factors:
• The Great Recession has reduced tax collections even faster than it has reduced income.
• President Obama and the Congress, after a long debate, extended the Bush-era tax cuts for two additional years.
• As part of the extension agreement, the Making Work Pay tax credit was replaced with the 2 percent reduction in the payroll tax.
Despite these tax reductions, Americans will pay more in taxes in 2011 than they will spend on groceries, clothing and shelter combined.