Tax Freedom Day

Posted: Apr 20, 2013 12:01 AM

Tax Freedom Day is the day when the nation as a whole has earned enough money to pay off its total tax bill for the year.  Each Year, the Tax Foundations calculates that date, and for 2013 it's today, April 18. 

Not only do Americans have to work almost 30% of the year just to fund government, but the total amount of federal and state taxes paid will be $4.22 trillion – and it won't come close to enough.  The federal government will borrow and spend almost a trillion dollars more than that!

From the Tax Foundation:

Tax Freedom Day 2013 is April 18th. In 2013, Americans will pay $2.76 trillion in federal taxes and $1.45 trillion in state taxes, for a total tax bill of $4.22 trillion, or 29.4 percent of income. April 18 is 29.4 percent into the year. 

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Family Small Businesses, the Heart of American Life

The original immigrants were mostly farmers, just trying to survive and eke out a life in the New World. Then followed the trappers, shopkeepers, merchants, and the rest. For a very long while, staying alive and taking care of the daily duties was a family job requiring everybody to carry a bit of the load. Stressful, yes, but within the close interdependence and reliance on each other, they also developed the uniquely American Culture and transmitted those lessons and values for generations.

Small family businesses were the backbone of America in the colonial era, and for the more than two centuries that followed. However, in today's modern, transient, technologically advanced economy multi-generational family businesses are more the exception than the rule. But, just like other great traditions in our heritage, the beautiful, decent wholesomeness of this lifestyle continues to be much revered.

Since 1972, Bob Philips has paid tribute to rural life and the legacy of small family businesses as the Texas Country Reporter. Each week, Phillips produces a documentary that is syndicated throughout Texas as well as broadcast nationally. One of his most recent episodes highlights the Carpenter family, owners and operators of the Central Texas Tool Company in Abilene, Texas.

Included below is a link to Phillips' fine tribute. We tip-our-hat to the Carpenters, for sure, but also to the countless others just like them and those that have gone before. They represent the finest of family values, of entrepreneurship, and the beautiful dignity that comes from an honest day's work. Even if you've never seen the inside of a small machine shop, we're sure you'll enjoy the next seven minutes watching this video.

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