Today is Tax Freedom Day in Israel. Tax Freedom Day marks the day of the year that a country, as a whole, has theoretically earned enough income to meet its tax burden.
In the US this year, Tax Freedom Day fell on April 30, two days later than in 2006. India celebrated earliest this year, on March 14. Israel is next to last on the list. Who suffers more than the Israelis? The Swedes. Sweden’s Tax Freedom Day doesn’t hit until August 8.
Of course, this is a little tongue in cheek. Not all countries collect taxes on the same timeline, so the disparity in Tax Freedom Days doesn’t really mean that the tax burden of a country at the end of the calendar is more than those at the front of the line (though it does make for interesting reading). But in Sweden’s case, it’s fairly accurate. The tax burden in Sweden is equivalent to 51% of GDP, which together with Denmark is the highest in the world.
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