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Friday, June 25, 2010

Tax freedom day

The Jerusalem Market Research Center has announced that June 22 was Tax Freedom Day (or as this article calls it, Tax Independence Day) in Israel. If correct (and honestly, I find it hard to believe), this is a great improvement - I can recall it being in August.
“Tax Independence Day” - the date Israelis stop working for the government and start working for themselves - was on June 22 this year, 25 days earlier than in 2009, and the earliest since 1990. The figure indicates that, thanks to changes in the the tax structure, salaried employees are on average paying a lower percentage of their salaries to taxes than anytime in the last 20 years. The figure was published Thursday by the Jerusalem Market Research Center.

Despite the changes, Israel's taxes are still on the high side; Tax Independence Day in the U.S. is on April 9, in Canada on May 2, and in Britain on May 30. However, Israel “beat out” several countries this year, with a lower tax burden than paid by residents of Germany (July 8). France (July 16), and Sweden (July 16).
I'm sorry, but I still find paying half my income in taxes inexcusable (and no, it's not because of the defense budget).


At 9:24 AM, Blogger Chrysler 300M said...

Employees are the exploited pigs of the state, you should have a corporation and send bills to your business partners

At 10:18 AM, Anonymous Anonymous said...

Perhaps Israel's tax day has moved earlier because more people are in a lower tax bracket today than in the past, due to layoff's, reductions and a poor economy.

In any case, the bloated government is a major cause of our ridiculous tax rates. The waste seems endless.


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