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Consumer Spending: How do You Spend Your Hard-Earned Dollars?
| Taxes | 32.0% |
| Housing | 16.7% |
| Medical Care | 11.5% |
| Food | 8.2% |
| Transportation | 7.9% |
| Recreation | 5.7% |
| Clothing | 4.1% |
| Savings | 1.4% |
| Other Miscellaneous | 12.5% |
| TOTAL | 100.0% |
So there you have it. If you think you are being “nailed” by the government, you are absolutely right. You spend more on taxes than any other category of consumer spending.
In fact, you spend more on taxes than on food, clothing, and housing combined !!!
Think about it — the Average American spends 32% of his/her income on taxes. And it’s not just federal income taxes we’re talking about here. There are also state income taxes and local income taxes like your city or county).
That is exactly why you need a Tax Professional (not just a tax preparer) on your side to advise, prepare, represent and plan your financials.
There Is a Time for Everything... A Time To Weep and a Time To Laugh, a Time To Mourn and a Time To Dance.
Ecclesiastes 3:1-4
