The Significance of Tax Day

Every year, tax season generates a flurry of conversation about the meaning, importance, and necessity of paying income taxes. Over at Spotlight on Poverty (a non-partisan initiative focused on elevating poverty-related news) our Reid Cramer and David John, of Heritage, respond to the question: what does tax day mean for low-income Americans? While they disagree on the fundamental emotive underpinnings of taxation, both view the tax time as a unique moment that can be used by lower-income people to build assets. For example, Cramer focuses on the opportunity this influx of cash presents, citing the $aveNYC pilot that helps low-income New Yorkers maximize their refunds. John highlights the long-term value of diverting refund money into retirement accounts. Check out the full post for their full views. Also don’t miss our other recent tax-related work, especially Rachel Black’s piece at Mother Jones “What My Television Says About Our Broken Tax Code.”