Monday, June 22, 2009

The Real Cost of High Taxes

"I don't know if I can live on my income or not - the government won't let me try it."
Bob Thaves of "Frank and Ernest"

The Obama administration can barely keep the drool from dripping out the sides of its collective mouth at the thought of seizing yet more of the Amercan economy and raising taxes higher, and higher, and yet higher.

The Center for Fiscal Accountability, however, recently placed ads in magazines showing how much we are paying in taxes already. If all taxes that you currently pay (income tax, sales tax, corporate income tax, property tax, capital gains tax, unemployment insurance tax, workman's compensation tax, licensing taxes, regulatory fines... you get the idea) were published like the Surgeon General's Warning on every item that you purchased, what exactly are you already paying in taxes even before Obama has his way and raises your taxes again?

* 37.6% of a can of soda is tax.

* 44.8% of a meal dining out is tax.

*45.6% of the price of a firearm is tax.

*46.3% of your cable TV bill is tax.

* 46.4% of your cell phone and its contract is tax.

* 50% of your nightly hotel bill is tax.

* 51.2% of the price of gasoline is tax.

* 51.8% of your landline phone is tax.

* 55% of domestic airfare is tax.

* 56.2% of each bottle of domestic beer is tax.

* 60.6% of the cost of a car rental is tax.

* 79.6% of the cost of liquor is tax.

* 81.3% of the cost of a cigarette is tax.

Paying enough yet? How much MORE money would you have in your pocket if, for each item above, you could pay the cost that it actually takes to manufacture and distribute the item, along with a hefty profit, minus all that tax?

Could you send your kids to college without a second mortgage?

Pay off your credit cards?

Repair your home? Or maybe even pay it off?

And Barack Hussein Muhammad bin Obama wants to raise taxes in this country?


Maybe the real solution is to stop spending so much....

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