PILOT SPIN
Spin Zone => Spin Zone => Topic started by: President in Exile YOLT on April 06, 2016, 03:25:34 PM
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http://www.washingtonexaminer.com/americans-spend-more-on-taxes-than-food-clothing-housing-combined/article/2587799
"A tax advocacy group on Wednesday revealed that Americans spend more on taxes than their whole budget for food, clothing and housing."
I don't know about you guys, but taxes are by far the largest expense I have. By FAR.
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That is odd, since Hilary Clinton and Bernie Sanders are convinced we don't pay our 'fair' share...
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That is odd, since Hilary Clinton and Bernie Sanders are convinced we don't pay our 'fair' share...
They are liars and they know they are liars.
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http://www.washingtonexaminer.com/americans-spend-more-on-taxes-than-food-clothing-housing-combined/article/2587799
"A tax advocacy group on Wednesday revealed that Americans spend more on taxes than their whole budget for food, clothing and housing."
I don't know about you guys, but taxes are by far the largest expense I have. By FAR.
The problem is that thanks in part to George Bush who created a 10% bracket and expanded the 15% bracket, we have 50% of the population that doesn't pay any income taxes. So this revelation doesn't hit those people because they don't feel it. Yet the vast majority of us in the middle certainly pay more in taxes than anything else. It's stunning.
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http://www.washingtonexaminer.com/americans-spend-more-on-taxes-than-food-clothing-housing-combined/article/2587799
"A tax advocacy group on Wednesday revealed that Americans spend more on taxes than their whole budget for food, clothing and housing."
The operative words missing from that quote is "in aggregate". The Tax Foundation is a pretty good source of information. They were quite clear in the background analysis to point out that those figures are for Americans as a whole. No doubt if you are in an upper tax bracket and have no mortgage, that is probably true. At the other end of the income spectrum, the situation is much different.
I don't know about you guys, but taxes are by far the largest expense I have. By FAR.
I'm impressed!! High income, low expense, a good place to be. A wise old guy once told me that if your paying taxes, you're making money. ;D
Gary
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Taxes are a major expense and my largest by far. Even with a mortgage and other deductions, between federal, state and sales taxes I pay at least 25% of my income to taxes. Nothing else comes close, not even my mortgage or my son's ACL surgery.
For what I pay in taxes I could probably make payments on and fly a very nice 182.
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I'm impressed!! High income, low expense, a good place to be. A wise old guy once told me that if your paying taxes, you're making money. ;D
Gary
Not when I can buy a new top end Lexus for what is confiscated from my income every year. It's an outrage.