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News & Media

During The Year, Most Americans Will Pay About 43 Percent Of Their Annual Income To Fund Government – Local, State And Federal

Posted on February 28, 2016 John Abood

When you add up the employee, employer, social security, medicare, health care, income, sales, property, real estate and corporate taxes you pay, they typically add up to about 43 percent of your annual income. This percentage of your income flows to our government in order to pay for public services, government services and redistribution of wealth. We believe this level of taxation is too high. We believe this level of taxation has an affect on our national savings rate. We believe a discussion of private vs. public financing of services, and reform of our tax system, is necessary. (AIMI prepared a letter for you to send to your elected representative, asking them to address this matter.)

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