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This Money Tips Column is made possible through the generous support of Christian Credit One.
Taxes vs. Expenses
Interesting Tax Trivia
Americans are known to be hard workers. But have you ever thought about how long it takes you to earn the money to pay for a particular item or necessity? If you have a plasma t.v. hanging on your wall, how long did it take for you to earn the money that paid for it? In addition, if you look at your earnings statement that comes with your paycheck, you'll notice how much money is deducted for federal and state withholdings. How many days per year does it take to pay your taxes?
For decades, the Tax Foundation has been looking at the relationship between taxes and other expenses. They have compared the number of days Americans work to pay taxes to the number of days they work to support themselves. Some of these numbers may surprise you.
As you can see in the figure, Americans work longer to pay for federal and state taxes than they will for food, clothing and housing combined. Because taxation is the biggest financial burden, it's never been more important to find better ways to reduce your taxes and expenses so you can save more and reach your financial goals.
About Christian Credit One, Inc.
Christian Credit One, Inc. is a national, non-profit organization dedicated to helping consumers achieve financial wellness through counseling and education. Established in 1994, Christian Credit One has helped over two million individuals achieve financial security. Christian Credit One is one of the top members of the American Association of Debt Management Organizations (AADMO), Christian Credit One manages clients across the country. Personalized and confidential consultations are available in person, by phone or online. Visit Christian Credit One at www.CCone.org or call 888-767-9155.
Greg McTaggart, Certified Credit Counselor with 22 years experience, licensed by AFCPE, Director of Christian Credit One and is an expert in budget and credit counseling. Having the combined experience as a licensed Real-estate salesman, Mortgage Broker, Real-estate Broker, Notary, Ace Member of the Cincinnati Credit Executives, Mortgage Assistance Counselor and Spokesperson of the radio talk show “The Money Mentor”, Greg McTaggart is qualified to help you at www.CCone.org.
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About Christian Credit Counselors, Inc. Christian Credit Counselors, Inc. is a national, non-profit organization dedicated to helping consumers achieve financial wellness through counseling and education. Established in 1994, Christian Credit Counselors has helped over two million individuals achieve financial security. Christian Credit Counselors is one of the top members of the American Association of Debt Management Organizations (AADMO), Christian Credit Counselors manages clients across the country. Personalized and confidential consultations are available in person, by phone or online. Visit Christian Credit Counselors or call 888-767-9155. Greg McTaggart, Certified Credit Counselor with 22 years experience, licensed by AFCPE, Director of Christian Credit Counselors and is an expert in budget and credit counseling. Having the combined experience as a licensed Real-estate salesman, Mortgage Broker, Real-estate Broker, Notary, Ace Member of the Cincinnati Credit Executives, Mortgage Assistance Counselor and Spokesperson of the radio talk show “The Money Mentor”, Greg McTaggart is a qualified Christian Credit Counselor to help you. Click Here to get a Free Debt analysis and see what we can do for you! Click Here to Schedule an Online Consultation with a Trained Counselor |
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