Who doesn’t consider the word “taxes” a “dirty” 5-letter word? But any red-blooded American knows our country could not function without taxes. So the question is not if we should pay taxes but why do we pay so much taxes? I bet you think I am talking about income tax? Yep! I am. But I am not talking about just income taxes. Depending on which study or report you are using, the average American working citizen pays from 45 percent to over 60 percent of their income & wages in taxes. And no matter how much you argue against it, they are not far off. I’m no expert on the matter, but consider the following things that we pay taxes on.
· Federal & State Income Tax
· City & County Tax
· Property Tax
· Gasoline Tax
· Telephone Tax (I pay just over $10.00 in taxes per month for each of my cell phones [30%] & home phone [25%])
· Electricity Tax & Surcharges
· Normal Sales Tax on purchased goods
· Other Excise Tax
· State & Local Utility Tax
These are goods & services that you have no choice of paying taxes on. I did not include Social Security Income Tax as you will get all of that back assuming you live to the ripe old age of 62 and draw Social Security Benefits for a minimum of four years. What are not included in the above list are taxes such as “Sin” Tax (tobacco, alcohol, etc.), transportation taxes (buses, airlines, railroad, etc.), hotel taxes, import taxes, luxury tax (Value Added Tax), etc. If you are a consumer of these, add more taxes you pay to your total.
I have not listed some taxed goods & services and I’ve overlooked some others. Even the experts admit overlooking some taxation’s. Therefore it very easy to believe that we pay close to, if not more than, 50% of our earnings & income in taxes. I can not find the study now, but I recall reading a study many years ago done by students of a major collage. What I remember is that they found we were paying just over 51% in taxes. And our politicians are constantly looking for more ways to tax us. I suppose I am obligated to say here that the American Revolution was started over a measly tax on tea imported from Europe.
http://findarticles.com/p/articles/mi_m1272/is_n2576_v121/ai_13807542
http://www.nowandfutures.com/taxes.html
