Monday, April 9, 2007

The 8-Hour Workday Divided Up

I thought it was interesting that in the 8 hours that we work in one day...more of it goes to taxes than anything else.

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:

Juan Millon said...

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

New2TheRatRace said...

million,

I honestly couldn't agree more. The more you make...the more they take! :-(

Anonymous said...

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