Very interesting and telling data. 25% of our spending is going towards taxes. Also, the pace of spending is surpassing income by over 40%.
Americans Spent More on Taxes Last Year Than on Food, Health Care, Education, and Clothing Combined
On average, each "consumer unit" paid more than $16,000 in taxes last year. This outpaces average spending on food, clothing, education, and health care combined.
"In each quintile, the increase in total spending outpaced......