Article Image

IPFS News Link • Economy - Economics USA

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

• https://www.cnsnews.com, By Terence P. Jeffrey

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.

At that same time, American consumer units were paying an average $16,729.73 in net total taxes.

These included $8,561.46 in federal income taxes; $5,565.45 in Social Security taxes; $2,564.14 in state and local income taxes; $2,475.18 in property taxes; $105.21 in other taxes—minus an average of $2,541.71 in stimulus payments received back from the government.


www.universityofreason.com/a/29887/KWADzukm