In article , Richard
J. wrote:
I thought you were concerned only with PAYE.
In reality, there are so many other factors involved apart from
one's top rate of income tax that it's meaningless to pretend
that Tax Freedom Day has any significance for an individual,
though it may be useful as a statistical index.

Even then the Adam Smith Institute is honest enough to point out on
its website that any government can lower taxes by increasing
borrowing and the true date should arguably be calculated by adding
on borrowing to the total tax collected:

"Calculated this way, the 'true' Tax Freedom Day for 2004 would be
11 June. That is a considerable improvement on the budget-deficit
adjusted TFDs of the early 1990s, which were in mid-to-late June.
But it is a sharp deterioration from 1998, when the adjusted date
was 24 May"

http://www.adamsmith.org/tax/technical.php

I don't expect Michael Howard to be telling us this though!

One wonders what TFD in the USA would be if their trillion dollar
deficit was added back?

--
Tony Bryer