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One of the most brilliantly evil things government has ever done is to collect nearly all the taxes we pay without our conscious knowledge. Federal, state, and social security taxes are deducted from paychecks, so most people don’t even think about them as part of their real earnings. Sales taxes are factored into the purchase prices in our minds. Property taxes are usually escrowed by the bank and put into your monthly mortgage payment. Hardly anyone can tell you how much of each gallon of gas we purchase is for the tax vs the fuel itself. How much of the country even realizes they only pay half of their social security/medicare tax, as the employer pays an equal amount on their behalf? Look at your W2’s, and imagine if everyone had to write physical checks at the end of the year for the total fed, state, and social security amounts! Do you think people may then pay attention to how much the government screws them every year? How perverse is it that most people consider a tax refund or “stimulus” check some kind of gift or bonus from the government?
These taxes are just the start. Every time the government taxes a business, it adds to their cost, meaning prices go up to cover it. So the scraps of take-home pay we get to keep mean even less. When government can’t hide a tax from you somehow, they simply change its name, calling it a permit, license, toll, surcharge, or whatever. The insane trillions being spent lately will be paid for by the working people. It’s a reverse-Robin Hood transfer of wealth, which is why politicians and billionaires get richer every year.
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Joe, I’ve been asking this for decades. In dollar amounts, how much does the average american pay in taxes in all forms. BTW, I always get some AH who says just look at some report that only covers federal, state and local government taxes, maybe one or two more. I want it all.
If I buy an cellphone for $1,000. How much in taxes did I pay from every part, from every middleman, property taxes of the businesses, gas tax to ship the items/parts from location to location. I mean everything. Now repeat that for toothpaste, shirts, pet food, lightbulbs, etc. My gut feeling is 80% of our total income.
Not sure if Joe wishes to respond, but as you are willing to publicly declare yourself to be my friend……I’ll try.
Its a hard question to answer. The general estimates you usually see are around 50-55% when federal, state, and local taxes are combined. Obviously, everyone’s situation is different depending on where they live, where their income comes from, how many deductions they can take to reduce that burden, etc. Back when there was a big push for the “Fair Tax,” the one truly appealing argument in favor of it was that it was 23% for EVERYONE. Everyone could therefore look at any future tax proposal and know exactly what it was going to mean to them. Now it is all smoke, mirrors, and lies, pitting one group against another, making one group feel like they are making out like bandits, etc.
As for the cellphone example, there are typically ONLY taxes to the end consumer. That is what “wholesale” means. Wholesale prices do NOT include additional taxation, and are only paid if someone along the lines decides to keep the item for their own personal use. Otherwise, the final price is generally the only thing taxed. Indeed, the amount that this price is burdened by permits, fees, regulatory costs, etc. that are being passed along, is very difficult to fully ascertain. While there is no question that these costs represent incremental additions to the price, I think that your 80% number is way too high. There is only so much of those costs that can be passed on in a competitive market. But for some folks, in the right place, with the right tax burden, purchasing the right items, the number could be closer than I might appreciate. And then let’s not forget the hidden tax of inflation, which STEALS value from every dollar you possess. The FED’s goal every year is to STEAL 2%. The Shadowstats website clearly shows that it has been a LONG time since the true theft was that little. Maybe if you throw in the tax of inflation, 80% might not be that far off after all.
That is why it is important to do whatever you can to reduce your tax burden. Money in the hands of the private sector, even if pissed away on booze and porn, is still better spent than in the hands of government.
Thanks Mr Liberty. I call myself self that name, because so far, we agree on every. Not counting the little things like a few percentage points. I turn all my excess FRNs into gold, silver, etc. Mostly for inflation, but other reasons too.
I forgot regulation as you mentioned. Government fees, penalties, lawyers. I hope you are right, that it is a lot less than 80%. Sure doesn’t feel that way.
KickStarter – Find the real percentage that people pay in taxes l, fees, etc to any government agency, federal or lical.
It would make a great APP if you could come up with a calculator that would give you the tax burden imposed on every product you buy, service you purchase, etc. Again, the challenge is that everyone and every item is different simply because of geography. Notice how in the new government waste bill, they want to deny states the right to lower taxes. They are pushing for a minimum tax burden across nations as well. They claim that this “rush to the bottom” is hurting everyone. When was the last time YOU were hurt of felt bad about taxes being lowered and government getting less money?? That is the mentality of government. And gold, silver, ammo, storable foods, toilet paper, alcohol, cigarettes, and many other things make great stores of wealth in the face of what they are up to.