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Don’t Make Me Say I Told You So 25
income that the federal government takes from us each year is
going to go up.
A Bite Out of Your Retirement Income
The reason that increasing taxes is so important to retirees is
that income taxes represent the largest household expense
as a percentage of income.
Household Expenses as a Percentage of Income
30%
PLEASE REPLACE THIS CHART WITH CHART #120 - TAXES ARE
LARGEST HOUSEHOLD EXPENDITURE. IT'S IN OUR SHARED
FOLDER IN DROPBOX. 17%
12%
8% 8%
6%
4%
<1%
Savings Clothing Recreation Food Transportation Medical Care Housing Income Taxes
Source: U.S. O ce of Management and Budget, 2011
Chapter 1: The New Retirement
