Here’s a question: How many of us actually understand that an enormous amount of the prices we pay for normal everyday items (gasoline, soda, cable television) actually goes back to the government in one form of tax or another?
Despite the fact that Colin Powell actually thinks that Americans want to pay taxes, most of us think we’re already paying more than enough.
Gas prices too high? Don’t blame the oil companies, blame the government — over half (51%) of what we pay for gasoline goes not to the oil company, not to the gas station owner, but to Uncle Sam.
Paying too much for your phone service? Well, your landline phone bill nets out at 51% going to taxes, while your cell phone bill is a bit better with the tax bite being just 46% of the total.
The chart below, provided by Americans for Tax Reform lists a baker’s dozen of common items that most of us use on a daily basis and tells how much of the price we pay goes toward taxes. You might be surprised — you might just be horrified —to discover how much that actually is.
|Good/Service||Estimated Avg Cost||Estimated Tax Bite %||Estimated Tax Bite/Unit|
|Distilled Spirits||$13.10/ 750mL bottle||79.60%||$10.43|
|Phone – Landline||$49.33/month||51.80%||$25.55|
|Phone – Wireless||$49.98/month||46.40%||$23.19|
That’s what we pay now. No wonder so many people are having a hard time making ends meet. But just think of what kind of increases we’ll see if some of the legislation President Obama is pushing actually gets through Congress.
I’m calling my Congressmen. Today.