Personal Career and Financial Security Ch 20

The situation where one parent works to support the family and the other works to pay taxes, leaving little time for child-rearing.

The amount of money a person or family saves compared to their income.

The financial class that enjoys a comfortable standard of living without excessive wealth.

The traditional family structure where the husband works outside the home, and the wife focuses on household duties and child-rearing.

The trend of increasing tax burdens that require both parents to work outside the home to maintain a decent standard of living.

The decline in savings rates due to rising expenses and economic pressures.

The idea that owning a successful business is an effective way to achieve financial security and a comfortable living.

Increases in government spending, primarily during times of war or economic crisis, lead to higher tax burdens on individuals and families.

The U.S. government's size and spending have significantly expanded over the last century, particularly after World War I, the Great Depression, and World War II.

The average American family's federal tax burden increased drastically from 2% in 1950 to 24% in 1995.

Not only monetary taxes, but also the time spent understanding and completing tax-related paperwork adds to the overall cost of government.

The complexity and volume of tax laws and regulations have risen over time, requiring more time, expertise, and resources for compliance.

The expansion of government and its associated tax burden have a significant impact on the financial well-being of individuals and families.

The increased tax burden can be compared to another mouth to feed within a family, requiring additional resources to sustain.

The cost of government, including both monetary and time costs, is a significant burden on individuals and families.