Tax Freedom Day, which measures how many days the U.S. must work to pay to cover the annual taxes, will be April 17. That's four days longer than last year, which means Americans are needing to work more to pay taxes. Tax Freedom Day is a calendar-based illustration of how much the government spends. The data assumes work across the nation begins on January 1, Americans earn the same wage every day while spending nothing. The information is provided by Tax Foundation.
Americans will spend more in taxes in 2012 than they will on housing, food, and clothing combined.
Americans will work 15 days to pay sales and excise taxes.
In 2012, Americans will work 12 days to pay for property taxes.
It will take Americans seven days to pay for taxes such as car, severance, and estate.
Taxing individuals is the biggest part of Americans' tax costs.
Forty-three states have a state income tax in addition to the federal income tax. Paying these taxes together takes about 40 days of work for Americans.
It will take Americans 24 days to pay for social insurance or payroll taxes. These taxes go to social programs like Medicare and Social Security.
Social insurance and payroll taxes were reduced by 2 percentage points for 2011 and were recently extended through 2012.
Taxes on corporations and businesses are passed on to people in the form of higher prices, lower pay, less employment, or lower share value.
This includes federal borrowing and arrives on May 14, the sixth latest in American history.
The latest it has ever occurred was during World War II, when it landed on May 21 in 1945.
Americans will pay $2.62 trillion in federal taxes and $1.42 trillion in state and local taxes.
The total bill for Americans comes to 29.2 percent.