Writing at CNS News, Terence P. Jeffrey explains that Americans pay more for taxes than food, healthcare, and clothing combined. Worst of all, Jeffrey points out, this looks like the new normal for Americans. He writes:
That Americans are forced to pay more for government than they pay for food, clothing and health care combined has become an enduring fact of life.
A review of the BLS Table R-1s for the last six years on record shows that in every one of those years, the average American consumer unit paid more in taxes than it paid for food, clothing and health care combined.
In 2013, the average American consumer unit paid a combined $13,327.22 for the same five categories of taxes cited above for 2018, while paying a combined $11,836.80 for food, clothing and health care.
In 2014, the average American consumer unit paid $14,664.13 for those same taxes and $12,834.34 for those same necessities.
In 2015, it was $15,548.36 versus $13,210.83. In 2016, it was $17,153.30 versus $13,617.60. And, in 2017, it was $16,750.20 versus $14,489.54.
Even when all the numbers for the last six years are converted into constant December 2018 dollars (using the BLS inflation calculator), the largest annual margin between the amount paid in taxes and the amount paid for food, clothing and health care was last year’s $3,859.82.
Read more here.
You can improve your tax burden by choosing carefully where you live in the United States. To find the best and worst states for taxation in 2019, click here.
E.J. Smith - Your Survival Guy
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