On Wednesday, the Tax Foundation released their estimate for this year's "Tax Freedom Day" (TFD). For those not familiar with the right-leaning organization's annual made-up holiday, it marks when, according to the Tax Foundation, Americans will have "earned enough money to pay this year's tax obligations at the federal, state, and local levels." As is always the case with TFD, it's an exceptionally simplistic and misleading way to look at taxes.