(CNSNews.com) - Americans on average spent more on taxes in 2016 than they did on food and clothing combined, according to data released this week by the Bureau of Labor Statistics. The same data also shows that in three years—from 2013 to 2016—the average tax bill for Americans increased 41.13 percent. In 2016, according to BLS, “consumer units” (which include families, financially independent individuals, and people living in a single household who share expenses) spent more on average on federal, state and local taxes ($10,489) than they did on food ($7,203) and clothing ($1,803) combined ($9,006). The average tax bill for American “consumer units” increased from $7,423 in 2013 to $10,489 in 2016, according to data released this week by the Bureau of Labor Statistics. The tax-and-spending data was collected as part of the BLS’s Consumer Expenditure Survey, which is conducted for the BLS by the Census Bureau. The survey measures the expenditures and incomes of American consumers. more at link... https://www.cnsnews.com/news/articl...average-family-tax-bill-increased-411-4-years
Fake news. Average incomes rose from 63,000 to 74,000. On this incremental increase in incomes, 40% tax was paid. (the extra 4,000 that the article cites) We know that incomes for the wealthy have been rising while the non-wealthy have not. We know that averages skew with the outliers (in this case, the wealthy). The increase in average taxes is related to an increase in incomes among the wealthy.
I could not find a chart that was not adjusted for inflation... but if the inflation fact is true... Obama basically squeezed 4 grand out of the average family who was making a lot less after inflation... And on top of that... he also screwed working people out of the remaining cash with obamacare. 2. https://www.brookings.edu/blog/fixg...income-growth-under-four-american-presidents/ Shapiro then looks at income growth by age for the past five presidents and finds that the “…largest average annual gains in median household income occurred during the Clinton and Reagan administrations, with a clear edge to Clinton.” As figure 2 illustrates, young people in the Reagan and Clinton years saw their incomes grow right into middle age. The contrast with the Bush and Obama years is stark. Under those two presidencies income growth is lower for young people, small for those entering middle age and negative for those in the 45-49 year age group. No wonder our recent politics has been so bitter. As William Galston notes in another Brookings paper, “Economic stagnation means a continuation of gridlocked, zero-sum politics and a turn away from the spirit of generosity that only a people confident of its future can sustain.” In other words, this can’t continue.
That's how tax rates work unfortunately. They don't inflation adjust the rates and that's why AMT started as a millionaires tax that now affects many upper middle class. But the reality is that in this case he squeezed a lot more out of the rich folks. If it were average folks, they wouldn't be paying 40percent on their marginal earnings. Rich folks do. The use of "averages" conflates these two issues.
if you think a family earning 74 grand a year before income taxes, state taxes, other taxes obamacare, food clothing and shelter is rich... you are not living near a city. I would bet the rate seems close to 40 percent because lefties tend to forget about SS and fica taxes and everthing else which comes out of a pay check in addition to tax rate (after the standard deductions are taken. ) so when you lefties talk about more taxes think about you how you are destroying the standard of living of an average working person... then remember how he or she gets destroyed by inflation as well. there should be no income taxes on those not in the top... half a percent of earners.
Fake news, most American's pay little to no income tax. America's problem today is Representation Without Taxation.
your comment makes no sense... you wrote this... Average incomes rose from 63,000 to 74,000. On this incremental increase in incomes, 40% tax was paid. (the extra 4,000 that the article cites) either you got that wrong or you are the one who does not understand averages or your recent comment makes no sense.
I find that criminal.... the IRS is set up to make sure people like you and your family don't keep enough of your money to really grow and set up generational wealth to compete for assets and politicians. America does not need your tax dollar to function. It could just print the money. without and income tax It would be a lot more fair to you and it would cause many people more people to work.