Americans Spent More on Taxes in 2021 Than on Food, Clothing and Health Care Combined

[Geee]

CNS News

According to newly released data from the Bureau of Labor Statistics, Americans in 2021 once again spent more on average on taxes than they did on food, clothing and health care combined.

During 2021, according to Table R-1 in the BLS’ Consumer Expenditure Survey, American “consumer units” spent an average of $15,495.28 on food, clothing and health care combined, while paying an average of $16,729.73 in total taxes to federal, state and local governments.

 

“A consumer unit," the BLS says in the glossary for its Consumer Expenditure Survey, “comprises either (1) all members of a particular household who are related by blood, marriage, adoption or other legal arrangements; (2) persons living alone or sharing a household with others or living as a roomer in a private home or lodging house or in a permanent living quarters in a hotel or motel, but who is financially independent; or (3) two or more person living together who use their income to make joint expenditure decisions.”

On average in 2021, American consumer units spent $8,289.28 on food; $1,754.39 on clothing (apparel and apparel-related services); and $5,451.61 on health care.

That equaled a combined $15,495.28.

[Geee]

$4,896,119,000,000: Federal Tax Collections Set Record in Fiscal 2022

[Valin]

35 minutes ago, Geee said:

$4,896,119,000,000: Federal Tax Collections Set Record in Fiscal 2022

1. Try Just TRY to wrap your head around That Number. 2. Its Still not enough, We still have to borrow more (This goes back to the TEA Party days 42 cents  out of every dollar spent is borrowed).

[Geee]

8 minutes ago, Valin said:

1. Try Just TRY to wrap your head around That Number. 2. Its Still not enough, We still have to borrow more (This goes back to the TEA Party days 42 cents  out of every dollar spent is borrowed).

Federal deficit hit $1.4 trillion in fiscal year 2022, nearly 50% above pre-COVID level

(The Center Square) – The Biden administration on Friday released its budgetary data for the last month of fiscal year 2022 which showed the U.S. government ran up a roughly $1.4 trillion deficit. That is an average of nearly $120 billion in added debt every month.

Federal debt surpassed $31 trillion earlier this month. The federal debt topped $30 trillion, its own milestone, in January of this year.

In a speech Friday, President Joe Biden touted the deficit reduction from the previous year, down from $2.8 trillion in fiscal year 2021.

 

“Because we are making sure corporations pay their fair share, cracking down on billionaire tax cheats and giving Medicare the power to negotiate lower drug prices in the future just getting under way, which lowers one of the biggest costs that government and families have to pay, will reduce the deficit another $250 billion over the next 10 years,” Biden said. :snip:

[Valin]

25 minutes ago, Geee said:

Federal deficit hit $1.4 trillion in fiscal year 2022, nearly 50% above pre-COVID level

 

Quote

Kevin Sorbo

@ksorbs

If the government can just print money, why am I paying taxes?

 

1:25 PM · Oct 8, 2022

Interesting Question.

[Geee]

17 minutes ago, Valin said:

 

Interesting Question.