Episode 88: When Is This Year’s “Deficit Day”?
Words & Numbers
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The Importance of Understanding the Laws
This year is the earliest deficit day has been since the 1990s. The idea with tax freedom day is imagine that on January 1st, you start earning whatever money you're going to be earning for the year and you pay 100% of your paycheck to the government. So imagine paying all your taxes for the year upfront before you paid anything else. How long would you have to work in order to earn enough money to pay your taxes?
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