This Just In ...
Kevin Fischer is a veteran broadcaster, the recipient of over 150 major journalism awards from the Milwaukee Press Club, the Wisconsin Associated Press, the Northwest Broadcast News Association, the Wisconsin Bar Association, and others. He has been seen and heard on Milwaukee TV and radio stations for over three decades. A longtime aide to state Senate Republicans in the Wisconsin Legislature, Kevin can be seen offering his views on the news on the public affairs program, "InterCHANGE," on Milwaukee Public Television Channel 10, and heard filling in on Newstalk 1130 WISN. He lives with his wife, Jennifer, and their lovely baby daughter, Kyla Audrey, in Franklin.
Let's talk "work" on this Labor Day
The Tax Foundation has prepared The Tax Bite in the Eight-Hour Day for this year.
“In 2011, Americans will devote 2 hours and 13 minutes of every eight-hour workday, or over a quarter of their working hours (27.7%), to paying taxes. In a nine-to-five workday, it takes until 11:13 a.m. to earn enough to pay that day's share of taxes at the federal, state and local level.
If we add the federal deficit to the picture—that is, if the federal government were planning to collect enough in taxes during 2011 to finance all of its spending—Americans would work until lunchtime, 12:07 p.m., for the government, before keeping any of their earnings for themselves.”
Broken down is the amount of time we work for each individual tax.
Individual income taxes: 46 minutes of work in an eight-hour workday.
Social insurance taxes: 29 minutes of work.
Sales and excise taxes: 20 minutes of work.
Property taxes: 16 minutes of work.
Corporate income taxes: 16 minutes of work.
Which state has the biggest tax bite? That honor belongs to
Read more from the Tax Foundation.
And here’s a Labor Day extra: How Unions Kill Jobs
This site uses Facebook comments to make it easier for you to contribute. If you see a comment you would like to flag for spam or abuse, click the "x" in the upper right of it. By posting, you agree to our Terms of Use.