You may not have known it, but on Tuesday, Texas celebrated "Tax Freedom Day".
Tax Freedom Day means the state, as a whole, has earned enough money to pay its total tax bill for the year. Benjamin Powell, director of the Free Market Institute at Texas Tech, said Texas is doing better than the rest of the nation when it comes to tax burdens.
"Across the nation, it's going to take, on average, Americans 40 days to pay their income taxes, another 25 to pay their payroll taxes, another 15 to get their excise tax, and 12 beyond that for their property taxes," Powell said. "This is all time we're working for the government. In Texas, it adds up to 100 days you work just to pay your tax bill."
National Tax Freedom Day lands on April 18 this year. Texas' Tax Freedom Day is earlier because it has a lower average state and local tax burden.