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The typical American family pays more in total taxes than it spends on food, clothing, and shelter combined.
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Tax Freedom Day, the day Americans stop working for the government and begin working for their families, fell on May 10 last year.
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The average tax rate for the 437,036 individual returns filed for 1916 was 2.75 percent.
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Federal taxes consume about 21 percent of national income, the highest proportion since World War II. Total taxes from all levels of government – federal state and local taxes – stands at a record 32 percent of national income.
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The average family in 1998 worked 2 hours and 50 minutes of every eight hour workday to pay taxes. Most of that time, 1 hour and 55 minutes, was spent working to pay federal taxes.
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Americans spend $200 billion each year on tax lawyers, accountants and other costs associated with tax compliance.
