Koenig: Tax Freedom Day Offers Little To Celebrate
Point of View: Tax Freedom Day offers little to celebrate
By Andy Koenig
When are Oklahomans done paying their taxes? No, the answer isn’t Monday, April 18 — taxes this year are just due on that day. You finish paying them on April 11.
That’s when Oklahoma taxpayers finally earn enough to pay what they’ll owe for 2016. Put another way: You work 102 days before you actually start to see your hard-earned money. The nonpartisan Tax Foundation calls this “Tax Freedom Day,” although you probably won’t feel like celebrating when you consider you’re likely spending more on taxes than on food, clothing and housing combined.
You’re also losing more to the tax collector with every passing year. Nationally, Tax Freedom Day is the same day it was last year, but it’s still 11 days later than it was only four years ago. When you stack Oklahoma up against other states, it’s actually doing pretty well, with the 8th Tax Freedom Day in the nation.
But expect things to keep getting worse in the years ahead.