A new report shows average American citizens now spend more on federal and state taxes than they do on food, clothing, and healthcare combined.
“In 2018, according to Table R-1, American consumer units spent an average of $9,031.93 on federal income taxes; $5,023.73 on Social Security taxes (which the table calls ‘deductions’); $2,284.62 on state and local income taxes; $2,199.80 on property taxes; and $77.85 on what the Bureau of Labor Statistics calls ‘other taxes,’” reports CNS News.
All in, that totals to $18,716.93.
“At the same time the average American consumer unit was paying these taxes, it was spending $7,923.19 on food; $4,968.44 on health care; and $1,866.48 on ‘apparel and services,’” adds the website.
The total? $14,758.11.
The report comes as Presidential hopeful Bernie Sanders confirmed his policies would raise taxes on every American earning more than $29,000.
“Is healthcare free? No, it is not. What you do is exempt the first $29,000 from a person’s income. If you make less than $29,000 you pay nothing in taxes. Above that, in a progressive way, with the wealthiest people in this country paying the largest percentage,” said Sanders.
Bernie Sanders: Under government health care takeover, everyone making more than $29,000 per year will pay more taxes. pic.twitter.com/W1VLvbhNxV
— Arthur Schwartz (@ArthurSchwartz) September 27, 2019
Sanders called for even more entitlement programs earlier this month, demanding a new ‘Housing for All’ plan to match his universal healthcare scheme.
“In the richest country in the history of the world, every American must have a safe, decent, accessible, and affordable home as a fundamental right,” writes Sanders. “For more than 40 years, we have had an affordable housing crisis in America that has only gotten worse. In America today, over 18 million families are paying more than 50 percent of their income on housing, while last year alone the five largest banks on Wall Street made a record-breaking $111 billion in profits.”
“If we are serious about addressing the affordable housing crisis, we need to build millions of apartments and homes throughout the country that will remain affordable in perpetuity to prevent displacement and serve future generations. And when we do that, we will create millions of good-paying jobs in the process,” adds Bernie.
Read the full report here.