Member since Feb 11, 2011



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Re: “CD8: Giffords Rolls Out New Ad Hammering Kelly on Support for National Sales Tax

Homework assignment: Take everything you buy today: homes, cars, food, gas, medical care, etc. Now, breakdown what you pay for each of these items: vendor cost, shipping, manufacturing/processing cost, wages, payroll taxes paid, income taxes paid, tax prep costs. Yes, the exercise is quite extensive and it will probably take most of the semester to do it because most of the taxes are hidden very well. Next, isolate all costs related to taxes and determine what percentage those costs are of what you are paying for the product. Then, estimate how much of all those taxes you actually paid during the year, add to that the income taxes you paid plus the payroll taxes you paid. Now, determine the percentage of all taxes paid vs your gross income for the year. Now, go over to and look up topics related to hidden and embedded costs. While you are there, look up taxation on foreign trade.

A well-worn phrase that I still love - "Corporations don't pay taxes, we do"

Posted by MrC on 02/11/2011 at 1:57 PM

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