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Federal taxes are #1 expense for most people. People forget to think about it because of direct deduction.
by thelastgallon 1y ago
Federal taxes are #1 expense for most people. People forget to think about it because of direct deduction.
- surajrmal 1y agoThis isn't true. At 70k (much higher than the median income), the effective federal tax rate is under 10%. People generally spend more than 10% of their income on housing. If taxes are your number one expense you likely have a significantly larger than average income.