I helped my teenage son file his taxes after his first year at a real job. As he read the amount withheld, he winced.
“Just wait until you start earning more,” I told him. He groaned.
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It was his first lesson in how much the government takes. The burden only grows as you move into higher tax brackets – and stings even more if you're writing the check yourself, as many small business owners do.
Even with recent tax changes under President Donald Trump's One Big Beautiful Bill Act, Americans are still paying too much. The federal government collected $5.23 trillion in fiscal year 2025, according to the Cato Institute.
Happy Tax Day. Americans are still paying too much in taxes.
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