Ok, so you think you know all the taxes you pay? Wrong, you don’t. Think about it. I’m sure you know about income taxe, sales tax, licensing fees, state income tax, etc… However, there are many hidden taxes that most of which you wouldn’t see even if you looked closely. Some of these you may have spotted, but have you ever asked why?
TOP 10 HIDDEN TAXES
10. Hobby licenses & taxing – Did you know that when you buy fishing equipment you are taxed 10%. Well, you are not taxed, the manufacture is, but the 10% is passed on to you. How about Archery, try 40%. Let’s not even get into guns or even sports. Then there are licenses for fishing and hunting. Now, those fees aren’t hidden and may have good reasons for them, but the reality is, it’s a tax to catch a fish or hunt a deer. Did the federal or state governments pay for the deer or forest, no.
9. Gasoline Tax – Many of you likely have heard about this tax, but you never see it. You just go to the pump and pay $3+ dollars for a gallon of gas not realizing that your awesome federal government is taking .46c from you for each gallon of awesome gas you buy. That is a whopping 15.3% tax on gas at $3 a gallon. Of course, if gas falls to $2.50 a gallon, you are still taxed .46c per gallon.
8. Tariffs – This one I’m ok with, but it’s a hidden tax nonetheless. In order to protect our domestic products, the federal government levies tariffs on imported product such as peanut butter, which I don’t even understand why we are importing that. George Washington Carver is rolling over in his grave. We have tariffs on bicycles, telephones, and even brooms. The tariffs range from 5% to 25% and it’s all passed on to the American consumer.
7. Energy Costs and Utility Taxes – Did you ever look at your utility bills? Next time you get one, check out all the costs for the bill. Let’s look at a cable television bill. You pay a Regulatory Cost Recovery fee, State Universal Service Fund Fee, and a Federal version. On my electric bill I pay a universal energy charge, local government fee, renewable energy program fee, and temp. green power financing. Then there are the communications fees and taxes with phones and all sorts of water taxes. The bottom-line is you never see them and they just get randomly added to your bills and you pay them. The worse part is rising energy costs, which is normally caused by inflation or bullshit wars or regulations.
6. Candy Subsidies- The Federal government has used tariffs and subsidies to manipulate the market price of goods and produce to benefit American producers. A recent government report estimates that consumers pay between $400 million and $1.9 billion a year to fatten the sugar industry with federal subsidies and artificially inflated prices.*** That is allot of money earned form a Hersey bar or a pop tart, but again you never see the taxes you pay for the subsidies that companies get form the government. So, the jist is this. You pay more for a product, so corporations can make more money from you.
5. Sin Taxes – Did anyone else notice that sin taxes were heavily increased in President Obama’s Stimulus Act of 2008? Basically, the government doesn’t want you doing unhealthy things like smoking, drinking, or gambling, but if you do they will tax the hell out of you. Its sorta a perplexing issue. While on one hand the local, state, and federal governments run ads saying don’t do this “sin”, on the other hand they are making a pretty penny from you on it. “Sin Taxes” will soon include sugars like gum and soda. It’s amazing what state governements will define has a taxable item because they feel you shouldn’t have it. Of course, most rich people who smoke or drink could careless about taxes, but try explaining these invisible taxes to a hard working middle class smoker who has to pay $4.00 per pack in taxes. The liberal argument will be, well they will just quit smoking, drinking, gambling, or drinking sodas. Umm, ok. Then where do you get those revenues from? Again, PERPLEXING.
4. Bracket Creep – Talk about a hidden tax. Bracket creep is where your income rises and it puts you in another tax bracket and you automatically pay more taxes. Fair right? If if you think so, look at this. Many if us get what is commonly referred to as a COLA raise (Cost Of Living Adjustment). All government workers get this type of raise every year. However, it is given as a muse cause it’s there to pay for all sorts of other taxes you must pay, including inflation. The problem is, the tax bracketts don’t care. I once got a raise for 2% and it was suppose to add roughly $40 per check to my income ($80 a month). Not so fast. Because it jumped into a higher tax brackett, I lost $20 per month in additional taxes. Thanks Uncle Sam!
3. Traffic Tickets – Yea, speeding is bad. However, most police demartments have quotas they must fill. State budgets actually have a place for traffic citations. That is a big fat wow. So let me get this right, if the state budget has $15 million budgeted for traffic citations and the public is super safe that year what happens? Kinda like a tree falling in the forest and no one is there to hear it, right? If you have quotas and you budget the expected money, then you have to pull people over. I got a ticket for not having a front license plate on my car. Yes, I’m a criminal. While I waited 20 minutes for the ticket, three out of five cars that drove by didn’t have one either. How about having tint too dark? How is it a tinting company can legally sale tint that is illegal to have? Of course, going 72 in a 65 is a crime amongst all crimes. THROW AWAY THE KEY or pay $190. Let’s not joke around, it’s a lottery based tax. Ask everyone you know. At some point, you will get pulled over and pay your share.
2. Inflation – By far the greatest and most expensive tax you pay. Check out the site US Inflation Calculator and you can see its phenomenal effect on your life. Let’s say you put $100 in your saving account in 2000 at 2% interest per year. If you sat on it for 10 years, you’d have $121.90 with compounding interest. What you don’t see is the Federal Reserve stealing money away from your savings by the creation of additional money, which in-turn devalues the dollar. Inflation between 2000 and 2010 was roughly 26.6%. That means your $121.90 is actually worth $95.27. It’s doesn’t take a math wizard to see that your money was not only taxed on it’s principal value of $100, but you also lost all the interest you were hoping to gain by saving the money. The Federal Reserve steals from every Americans saving accounts everyday simply by printing more money.
1. Death Tax – This is the most hidden tax of all time because you will never see it. YOU WILL BE DEAD! However, if you own a business or saved a ton of money in your life, like $1.5 million your family will only inherit about 57% of it. If it goes over $2 million, your children will only see 53%. It’s sick to think that a person or family works their entire life to give their family a great way of life, they start a business and it’s valued at $1.51 million and the family must sell it or come up with $650,000. It’s a tragedy of America.