3. Taxes and your budget
Although taxes vary among the millions of people in America, one of the largest bills for many households is Uncle Sam. Americans are expected to pay about $4.5 trillion in federal and state taxes. As the chart above shows, that is more than Americans will spend on food, clothing, and housing combined.
More From Wall St. Cheat Sheet:
- Are Your Taxes Too High?
- Investing Basics: 3 Charts the Little Guy Needs to See
- Will Millennials Become the Lost Generation?
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