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Tax Rates Fall, Tax Freedom Day Comes Earlier This Year:
Dozens of think tanks all over the world calculate the date of their own “Tax Freedom Day”. In Israel, the Jerusalem Institute for Market Studies announced this year’s Tax Freedom Day: June 22nd. Corinne Sauer, the Director of the Institute, stated: “The fact of the matter is that Tax Freedom Day comes 25 days earlier this year than in 2009. This is an unprecedented improvement. Indeed we have something worthy of celebrating.”
The day is the day of the year in which the average Israeli has worked enough to pay his taxes for that year (all public income and taxes are included in the calculation). June 22nd is the earliest date of Tax Freedom Day since the Institute started calculating in 1990. Previous years tax cuts and the economic growth they engendered allowed additional tax cuts to be promoted and the day to be moved up further.
“We work more to fund the government than people in most developed countries. This year Americans celebrate this day on April 9th, and Englishmen – on May 30th. But last year, Germany, Sweden, and Norway had it fall on July – like ISrael,” – Sauer said. “Despite the improvement we must keep cutting taxes if we want to see economic growth, draw foreign and local investment, and become free citizens.”
The Israeli Libertarian blog congratulates Israel’s citizens and all its readers. Happy Tax Freedom Day! Hopefully next year’s will come even earlier.
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