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Americans will collectively spend more on taxes this year than on food, clothing, and housing combined, according to a new report from the Tax Foundation. The staggering revelation has refreshed a debate on what each presidential candidate is bringing to the table when it comes to tax reform, said Dagen McDowell. Cost of Freedom’s Bulls & Bears panel reacted this morning. All the political infighting we’ve been seeing lately is the reason “the effective tax rate has stayed basically the same since the 1950s,” said John Layfield. “The wealthy are getting benefits from politicians, and the burden is falling on the middle class,” he added.

Source: Report: Americans Spend More on Taxes Than on Food, Housing and Clothes Combined | Fox News Insider