The ultra wealthy alone basically live in debt. They use debt for everything. That’s one reason they pay virtually no taxes. That would skew an “average”.
Also, mortgages and auto loans would make this way higher for average people.
OP gets the number for the post from here I suspect
Bullshit.
The ultra wealthy alone basically live in debt. They use debt for everything. That’s one reason they pay virtually no taxes. That would skew an “average”.
Also, mortgages and auto loans would make this way higher for average people.
OP gets the number for the post from here I suspect
https://www.fool.com/the-ascent/research/average-household-debt/
Debt doesn’t reduce taxes. Not having income reduces taxes.