Congratulations California taxpayers! Today is Tax Freedom Day in California. That means Californians have worked well over three months of the year—from January 1 to April 14 —before they have earned enough money to pay this year’s tax obligations at the federal, state and local levels (according to data compiled by the National Tax Foundation).

That’s a slight improvement over last year when Californians achieved Tax Freedom Day on April 20 – or 110 days into the year.

(Nationally, Californians work longer than taxpayers in all but seven states to reach Tax Freedom Day). 

And now the bad news: It’s highly likely that we reached this “achievement” through the federal stimulus package, which created artificial tax reductions.

But what the heck! Celebrate today – for next year and many years after you will work hard to pay off the money the government borrowed from you last year.

This entry was posted on Wednesday, April 14th, 2010 at 12:00 am and is filed under Blog Posts.