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Wednesday, April 3,2013

How much tax do we really pay?

 

 

Federal personal income tax

17%

(2011 est. - 18.2%)

 

 

State & local income taxes

10.1%

(2009 - 10.6%) State taxes range from under 6% to over 12%. Local taxes run from zero to 2.75%.

 

 

Sales tax

9.7%

(2009 - 10.3%) State sales taxes range up to 8% and local taxes run from zero to over 5%.

 

 

Social security & Medicaid

7.65%

Total rate is actually 15.3% since half is paid by the employer.

 

 

Federal corporate income tax

3%

Based on corporate taxes being approximately 1/6 of personal taxes, and that they are paid by individuals in the final analysis.

 

 

Property tax

2.5%

(2007 - 2.7%) Yearly average actual costs range from under $200 in Alaska to almost $1900 in New Jersey.

 

 

Fuel/gasoline tax

.5%

(2009 est. - .6%) Approximately 23% of the 2005 gasoline price is for federal & state taxes.

 

 

Other

5%

(2009 est. - 7%) Includes estate tax, fees, licenses, inflation losses, inheritance, deficit allowance, gift, and others too numerous to mention.

 

 

Total tax percentage paid by the above average US citizen,

54.4%

(2005)

57.7%

(2009)

A PARTIAL LIST OF THE VARIOUS WAYS IN WHICH CITIZENS OF THE U.S. ARE TAXED:

  • Accounts Receivable Tax
  • Building Permit Tax
  • Capital Gains Tax
  • CDL license Tax
  • Cigarette Tax
  • Corporate Income Tax
  • Court Fines (indirect taxes)
  • Deficit spending
  • Dog License Tax
  • Federal Income Tax
  • Federal Unemployment Tax (Futa)
  • Fishing License Tax
  • Food License Tax
  • Fuel Permit Tax
  • Gasoline Tax
  • Hunting License Tax
  • Inflation
  • Inheritance Tax Interest Expense (Tax On The Money)
  • Inventory Tax Irs Interest Charges (Tax On Top Of Tax)
  • Irs Penalties (Tax On Top Of Tax)
  • Liquor Tax
  • Local Income Tax
  • Luxury Taxes
  • Marriage License Tax
  • Medicare Tax
  • Property Tax
  • Real Estate Tax
  • Septic Permit Tax
  • Service Charge Taxes
  • Social Security Tax
  • Road Usage Taxes (Truckers)
  • Sales Taxes
  • Recreational Vehicle Tax
  • Road Toll Booth Taxes
  • School Tax
  • State Income Tax
  • State Unemployment Tax (Suta)
  • Telephone Federal Excise Tax
  • Telephone Federal Universal
  • Service Fee Tax
  • Telephone Federal, State And
  • Local Surcharge Taxes
  • Telephone Minimum
  • Usage Surcharge Tax
  • Telephone Recurring And
  • Non-Recurring Charges Tax
  • Telephone State And Local Tax
  • Telephone Usage Charge Tax
  • Toll Bridge Taxes
  • Toll Tunnel Taxes
  • Traffic Fines (Indirect Taxation)
  • Trailer Registration Tax
  • Utility Taxes
  • Vehicle License Registration Tax
  • Vehicle Sales Tax
  • Watercraft Registration Tax
  • Well Permit Tax
  • Workers Compensation Tax

This page is not intended to be definitive and completely accurate on tax rates and issues - to do so would be virtually impossible considering all the factors. It´s primarily intended to show a fuller picture than is normally presented.

 

 

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