Tax Foundation issues annual flawed study

The Tax Foundation again has issued its study identifying "Tax Freedom Day" as April 9.

"Americans will work well over three months of the year—from January 1 to April 9—before they have earned enough money to pay this year's tax obligations at the federal, state and local levels," the study says.

A compelling concept, but it's deeply flawed, an analysis from the Center on Budget and Policy Priorities finds.

"The Tax Foundation’s 'Tax Freedom Day' report is plagued by two major problems," the Center on Budget says. "First, its estimates of state and local tax burdens suffer from a number of serious methodological flaws (see the box on page 4). Second, over the years, many journalists and policymakers have misinterpreted the Tax Foundation’s report as reflecting the tax burdens faced by typical middle-income workers."

Check out both studies if you get a chance. The debate is pretty interesting, at least for nerds like us.