[Vision2020] taxation
Dale Courtney
dmcourtn@moscow.com
Wed, 24 Dec 2003 10:52:36 -0800
Scott,
I meant to spell out the various taxes that you are likely overlooking. I've
been trying to come up with a fairly comprehensive list:
1. Individual Income Taxes
a. Federal
b. State & Local
2. Social Insurance Taxes
a. Federal
3. Sales & Excise Taxes
a. Federal
b. State
4. Property Taxes
a. Local (and even State-level...)
5. Corporate Income Taxes
a. Federal
b. State/Local
Note: sales and excise taxes are hidden taxes. These taxes imposed by
government raise the prices of nearly all goods and services.
Similarly, corporate income taxes must be counted as part of the nation's
overall tax burden because taxes on businesses are ultimately passed on to
consumers & employees in the form of higher prices, lower wages, etc.
So, if you want to find the overall tax burden, don't just look at your W-2!
Merry Christmas!
Best,
Dale