It is tax time, everyone’s favorite time of the year! (kidding, unless you’re an accountant or IRS agent.)
You pay a lot in taxes. Not just income tax, but property, sales, and even a DEATH tax.
But surely we spend more on our day-to-day lives than we give to Uncle Sam every year, right?
This year Americans will collectively give more money to the government in taxes than they will spend on on food, clothing, and housing combined, a new report from the Tax Foundation reveals.
The report shows 31 percent of the nation’s income will go to taxes — $3.3 trillion in federal taxes and $1.6 trillion in state and local taxes:
In a demonstration of just how much money Americans will spend on taxes this year, the Tax Foundation has calculated that not only will the bill to Uncle Sam be more than most personal expenses, it will take the nation, as a whole, until April 24 to earn enough to cover the cost.
The group is calling April 24, “Tax Freedom Day.”
Man, that is sobering. I really can’t believe that. But, thinking again, I totally can.
And what do we paid for? Wars, welfare, and bloated bureaucrat salaries.
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Does this infuriate you? Share your thoughts!