The following was taken directly from CNNMoney:
The Tax Foundation also compares the time Americans work to pay taxes with the time we work to pay for life's other expenses.
Based on an 8-hour workday, the research group estimates that Americans as a whole work:
- 1 hour 43 minutes to pay all federal taxes (income, sales, etc.)
- 1 hour 22 minutes to pay for housing and household operations
- 1 hour 8 minutes to pay for health and medical care
- 52 minutes to pay all state and local taxes (income, sales, etc.)
- 51 minutes to pay "other" taxes
- 40 minutes to pay for food
- 39 minutes to pay for transportation
- 28 minutes to pay for recreation
- 17 minutes to pay for clothing


3 comments:
Bizarre isn't it? The more and more I learn about this type of thing the less money I want to make -- actively -- I've saved up a wad of money and I'm getting started setting up my passive investment vehicles.. Real Estate, Stocks, Small Business. This tax thing sucks! lol
million,
I honestly couldn't agree more. The more you make...the more they take! :-(
there will come a day when you're walking to get a soda or a candy bar from the machine, and you realize the time you spent getting that soda or candy; the company has already paid you more. ....it's a good feeling!
MrSmith @ networthIQ.com
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