What Taxmageddon Really Means for Families
Taxmageddon is approaching closer by the day. Much of the focus has been on the impact Taxmageddon will have on the economy. But just how will this massive tax hike impact America’s most fundamental unit of society?
Families will see their taxes go up by more than $4,100—just in 2013—because of Taxmageddon. How will families pay for this huge tax hike, on top of all the other taxes they already pay, and still make ends meet?
The chart below illustrates the size of Taxmageddon’s burden on families in comparison to what families spend on some of life’s basic necessities. This tax hike is nearly as big as a family’s annual grocery bill, the amount families pay to maintain a car, or the amount families spend on utilities each year. What will families have to cut in order to feed the gluttonous federal government?