NEW YORK (CNNMoney) -- More than three months of your hard-earned wages are going straight to your tax bill this year.
Americans will spend an average of 29% of their income on federal, state and local taxes in 2012, the Tax Foundation announced Monday. That's more than the average family spends on food, clothing and housing combined, the organization said.
And it means that most Americans are going to need to work 107 days just to be able to earn enough money to pay their taxes.
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