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Don't forget the taxes
Another factor should be added to Mr. Phillips Cassady's letter, "Then vs. Now" (Feb. 22). In 1955, while paying off the costs of World War II, the average American taxpayer worked from Jan. 1 until Jan. 27 to earn enough to pay the year's taxes.
In 2000, the average American taxpayer worked from Jan. 1 until May 23 to pay all federal, state, county and city taxes. So, in the mid-1950s, a taxpayer worked less than one month to pay all his taxes. Last year, nearly five months' labor was required before the taxpayer was able to call his earnings his own.