According to the latest data released by the Bureau of Labor Statistics on consumer spending, Americans paid more to the government in taxes last year than they spend on Healthcare, food, clothing and education combined.
Taxes accounted for roughly 25% of consumer spending in 2021, which is more than the average amount people spent in many essential categories. Each ‘consumer unit’ spent an average of:
- $8,289.28 on food
- $5,451.61 on healthcare
- $1,226.14 on education
- $1,754.39 on clothing
Added together the total equals an average spend of $16,721.42, which is slightly less than the $16,729.73 average paid in taxes.
And even though the Bureau of Labor Statistics shows that Americans pay more of their income to taxes than the essential categories each year, the gap between the two is down from 2020, where Americans spent $17,148 on taxes and $13,927 on the other expenses. It’s also the smallest difference between the two costs since 2017 -showing the impact Biden’s inflation economy has had on American households.
A recent Gallup survey found that 56 percent of Americans say inflation is causing them financial hardship, that number up from 49 percent in January. The inflation forcing 69 million households to make cutbacks
12 percent say they were experiencing ‘severe hardship’ that number up from 9 percent who said the same at the start of 2022.
The poll shows that rising prices are a top concern for millions of voters heading into November’s midterms,
‘With high inflation persisting for over a year, a majority of Americans now say they are experiencing financial hardship from higher prices. Lower-income Americans were mainly affected early on, but most middle-income Americans and a substantial minority of upper-income Americans are now feeling the strain of higher prices.’
One of the reasons for the rise in prices across the board is the big government spending which showcases multi-trillion dollar congressional pork filled bills.
Biden also continues to send billions of dollars to Ukraine and his open border policies – which have allowed more than 5 million illegal migrants to cross the southern border in the last year and a half – have also cost American taxpayers $20 million since January.
American taxpayers are footing the bill for Ukraine, open borders, illegal migrants – who receive smart phones, healthcare, housing and transportation – and wasteful congressional spending.
