In 2020, Americans Paid More In Taxes Than They Spent For Health Care, Food, Entertainment, And Clothing Combined
The average American spent more in taxes last year than on health care, clothing, food, and entertainment expenses combined.
According to the Bureau of Labor Statistics’ Consumer Expenditures Survey for the year 2020, Americans’ tax expenses outweighed the amount that they spent to cover their most basic needs.
An analysis from the Media Research Center reveals that “consumer units” — defined as “families, single persons living alone or sharing a household with others but who are financially independent, or two or more persons living together who share major expenses” — spent an average of $17,211.12 in taxes:
- Federal income taxes — $8,811.78
- State and local income taxes — $2,492.71
- Social Security taxes — $5,392.35
- Property taxes — $2,353.42
- Other taxes — $71.87
- Stimulus payments — ($1,911.01)
Meanwhile, the average core expenses for a “consumer unit” amounted to $16,839.89:
- Food — $7,316.47
- Clothing — $1,434.26
- Health care — $5,177.01
- Entertainment — $2,912.15
The typical American therefore paid the state, local, and federal governments a total of $371.23 more than his or her expenses for food, clothing, health care, and entertainment. – READ MORE
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