POLL: Taking it from behind - Total Tax Bite

Discussion in 'Taxes and Accounting' started by TGregg, Mar 29, 2003.

  1. TGregg


    OK, add up all the taxes that you have totals for, like state, local and federal income taxes, SocSec and Medicaid, property taxes and all the rest.

    If you've never done this, prepare for a shock. Most folks have absolutely no concept of how much they actually fork over.
  2. I agree, man. Tough to get ahead. :-/

  3. Plus consider the fact that every product you buy has a built-in tax that the manufacturer paid to the various governments as corporate income taxes, payroll taxes that are matched by the employer (that are passed along to you the consumer), etc.

    I read somewhere that a $20,000.00 new truck probably has at least $7,000.00 taxes/tarriffs in the price tag alone. I wouldn't doubt it.
  4. TGregg


    Yeah, that was one thing I just realized. Some of our tax money (at least, here in the USA and I expect in most of the rest of the world) goes towards price supports and tariff implementation.

    In other words, some of the money extorted from us in taxes goes to make other stuff we buy even more expensive. We pay to take it from behind. :(