Tax Freedom Day hit on April 12th this year - everything you earned until April 11th went to taxes

April 22, 2011

Congratulations! Now you get to keep some. Shame on me. I failed to mention that Tax Freedom Day occurred on Tuesday, April 12. In case you're not familiar with the phrase, it's a calculation of when the money you earn is yours to keep, instead of going to Uncle Sam.

This year, the Tax Foundation tells us, the average American will work 102 days — in other words, from Jan. 1 until April 11 — to pay his or her tax bill. Despite the so-called tax cuts, Americans this year will pay more in taxes than they will spend on groceries, clothing and shelter combined.