Monday, November 06, 2006

3043 As you go to the polls

keep in mind that the Democrats do not want to keep the current tax cuts which have lifted our economy. They want to penalize you for doing well, because the lower rates have actually brought in more revenue to the government. Also ask yourself, didn't I already give? Why do they want more? Both parties are guilty of the gimmees.
  • Federal income tax
  • State income tax
  • city income tax
  • county income tax
  • sales taxes--state and local--Ohio doesn't tax food, but some states do
  • Intangible taxes (on your investments)
  • Use taxes--gasoline, airports
  • excise taxes--cigarettes, gasoline--federal and state. About 82% of what consumers pay for a pack of cigarettes (average cost $4.12) ends up going to the government in taxes and other payments rather than for the cigarettes.
  • estate taxes--also known as the death tax--federal and state
  • inheritance taxes--state and local
  • gift taxes--also called transfer taxes
  • personal property taxes--local taxes imposed on your car, furniture, boat, etc. and other items you already own but are taxed for year after year (we don't have this in Ohio, but we did when we lived in Illinois and Indiana)
  • real estate taxes--usually your county hits you up for this--reevaluates your home's worth, raises the taxes, then also raises the millage
  • Social Security taxes--also known as FICA, Federal Insurance Contributions Act, or payroll taxes
  • Medicare taxes
  • hospitality and entertainment taxes--like hotels, motels--usually a city tax
  • utilities taxes
  • telephone taxes, state, federal and local (surcharges and fees are not taxes) The Spanish American War (1898) tax was just lifted this year.
  • licenses--driver's, hunting/fishing, business, amusement, etc.
If you live in these states, you have the highest local/state taxes in addition to what you pay the federal government; Wisconsin, Nebraska, Kansas, Idaho, New York, Maine, Illinois, Minnesota, Missouri, and Texas.

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