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There was a very important day last week a day even more significant than when your taxes were due. In California, Tax Freedom Day arrived Friday.

Calculated annually by the Tax Foundation, Tax Freedom Day is the day on which the average Californian has finished earning enough money to pay all of his or her federal, state and local taxes this year.

So, congratulations! Just a mere 110 days into the year (not counting Feb. 29), you finally started working for yourself instead of the government.

But before you break out the champagne, note the following:

n Tax Freedom Day was four days later than last year. It would have been even later had the governor and Legislature succeeded in their efforts to raise car taxes, income taxes and sales taxes.

n Californians must work longer for the government than residents of other states. The average American achieves tax freedom three days earlier than the average Californian. That's one reason many workers leave our state as soon as they retire.

n If taxes were raised high enough to pay for all government spending, California's Tax Freedom Day wouldn't come until May 17.

Tax Freedom Day used to arrive much earlier in the year. According to the Tax Foundation, in the year 1900 Americans paid only 5.9 percent of their income in taxes and Tax Freedom Day was Jan. 22.

Over the years, the sheer number of taxes and their overall cost has grown tremendously. In fact, it's jarring to compare our current taxes to what Californians paid a century ago.

In the early 20th century, Californians paid no sales tax the sales tax was first imposed in 1933 at a rate of 2.5 percent. Today, Californians pay sales tax rates as high as 9.75 percent.

Read the rest here:
Runner: Little to celebrate on Tax Freedom Day