State Tax | Broward Directory Blog

May 02 2008

Tax - we seem to pay it almost everywhere.

Tag: General — admin @ 11:11 am

I think I am paying taxes on almost everything I spend money on. Whether it a trip to the grocery store or Home Depot. I am seeing some form of a tax here and there, even when there does not seem like there is a tax, there is the effect of a tax.

The first place we always notice a tax in in our pay checks. Our pay checks have line items for Federal Withholding Tax, FICA, SS, Medicare, Unemployment

Gasoline - federal tax
Shopping - state tax
Phones - state and federal
Water - county
Electric - state
Cellphones - federal and state
Cable and Satellite TV access - federal and state
Road Tolls - like the Turnpike
Airline Tickets
Train Tickets
Hotels - the bed tax
Stocks - when you make your profit - Capital Gains
Real Estate & Mortgages - when recording the instrument - stamp tax - buying - selling
IRAs & 401Ks when you begin to withdraw
Parking in high traffic areas like the beach or downtown - those meters are everywhere
Beer - Alcohol
Tobacco - if you smoke
To modify your home - you have to pull a Permit with your city
The biggest one we see is with our Homes - property taxes that take care of the state, county and local communities

We normally do not see a tax with Groceries but we do pay higher prices for the taxes on the energy bringing the food to the store. Some of the farmers receive government assistance and funding.

Services - We do not pay a tax at the time of service, but from the money we do pay for that service - any taxes will be passed on to us - they will pay their taxes and unemployment costs.

When we die we might have to pay a death tax. Boy that really sticks it to us.

Roth IRAs - paid with taxed dollars, and we are supposed to get that back tax free. Let's see if congress messes with that one.

So how much tax are we really paying? When someone says they are in a 28% tax bracket - are they really? What about people with a the lower pay scale - how much tax are they paying as a percentage of thier income.

Now stop and think how much aide in the form of money do we provide to other countries?

How much tax dollars does the US provide for medical care for illegal aliens?

Then think about how much money we are spending on a war in Iraq and Afganistan.

How much money do we provide for all the services for our government?

How come the average citizen cannot have the same type of health insurance plan that congress has for itself - that we, the citizens pay for in our taxes?

Now the real big question is how are our tax dollars really being spent?

Some of these links can help:

http://finance.yahoo.com/taxes/article/102817/How-Your-Tax-Dollars-Are-Spent

http://www.federalbudget.com/

http://www.gpo.gov/factsheet/index.html
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Budget of the U.S. Government, Fiscal Year 2008 (CD-ROM)
Description: Contains all of the Budget of the United States Government for Fiscal Year 2008. Offered in fully indexed PDF format. Includes software required for viewing the documents. Has many of the budget tables in spreadsheet format. Also contains the material on the separate "Analytical Perspectives" CD-ROM.
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Budget of the United States Government, Fiscal Year 2009
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There is a tremendous amount of information between Federal and State Government Taxation, but being aware of how the money is spent and why we are taxed is the first steps if understanding the complicated process.

Try spending a few hours looking at all your bills and find out how much tax you are really paying.