(Megan Munro - Fresno)
Tax Day was Monday but Tax Freedom Day was not until Thursday.
Tax Day was Monday but Tax Freedom Day was not until Thursday.
What that means is that Americans have been working for the government up to that day.
According to the Tax Foundation, for the first 108 days of 2013, you've been working for Uncle Sam.
That means the average American has finally earned enough money to pay this year's tax obligations.
The idea began in the 1940s. Economists wanted a simple formula to educate tax payers.
Fresno CPA John W. Heberger said, "You work all year long, for the first 3 and half months, essentially, you have to work for somebody else."
This year, Tax Freedom Day falls five days later than it did last year. Economists say that's due to a large deficit and the cost of the Affordable Care Act.
"You're carrying a financial load around. You've got some relatives back in Washington D.C. and in Sacramento that you've never met that you have to support," said Heberger.
Across the county there's five major categories of taxes. The Tax Foundation says it will take the average American 40 days of work just to pay their income tax, payroll taxes will take another 24 days, and sales tax an additional 15 days.
This year, Americans will pay about 29% percent of their total income to taxes.
The latest Freedom Tax Day fell was on May 1, 2000 and the earliest was January 22, 1900.