Tuesday, June 19, 2007

June 20 will be Tax Freedom Day.

This is bizarre. Last year, Tax Freedom day was on June 19. This year it is on June 20. By my math that is one day later than last year.

According to the Fraser Institute it is one day earlier than last year. Did I miss a leap year? How can it be earlier but on a later date?

Strange. Any ideas on why? Anyone?


According to the Fraser Institute the discrepancy is due to the following

Thanks for your interest in Tax Freedom Day. The numbers for the current year are preliminary as they are in part based on government budget forecasts of tax revenues. Each year we revise TFD estimates for the previous year using actual tax revenue data.

Last year our preliminary estimate of Tax Freedom Day (based on government revenue projects) was June 19. As it turns out, governments were conservative in their estimates. Our revised Tax Freedom Day for 2006 is June 24.

I hope this helps. Please feel free to contact me if you have further questions.

I believe that this does answer a lot. Tax Freedom Day is crap. Political party's in the past have used this measurement to belittle their political opponents. Conservatives have said this is proof that we are taxed too much or the party in power has failed to lower taxes.

Possibly, but should they even use this measurement knowing that it is preliminary and last year they were off by 5 days. Can this measurement currently be used as proof the conservatives have failed to lower taxes. Probably not, well not yet anyway until they predict a little better.

We all know the conservatives are very conservative when it comes to their numbers (if they report at all) and we also know that Flaherty has no clue and is constantly shifting his principles and his budget. Last years discrepancy was due to the Conservative Government providing their conservative estimates which was wrong. Tax Freedom Day was the same as the previous year under the Liberals so no tax relief last year despite the claim it was 5 days earlier than the previous (2005).

I will comment again when the Fraser Institute puts out the REAL tax freedom day or gives up this stupid exercise. Recommend this Post