How much do YOU pay in taxes? The average person would probably answer, “Too much!” of course. In reality, we believe our federal tax rate (25-40%) is what we pay in taxes. However, if you add up ALL your taxes, you will realize that this number is off…way off.
Your federal, state and local taxes are deducted from your paycheck BEFORE you even get home. What you are left with to survive is you living expenses. THOSE expenses are taxed as well. In fact, if you added up all the additional sales, telecom, city, highway, school, real estate and miscellaneous taxes, the average American is actually paying over 65% of their income in some form of tax! How can ANYONE survive?
Building Permit Tax
Accounts Receivable Tax
CDL license Tax
Cigarette Tax
Corporate Income Tax
Dog License Tax
Federal Income Tax
Federal Unemployment Tax (FUTA)
Fishing License Tax
Food License Tax
Fuel permit tax
Gasoline Tax (42 cents per gallon)
Hunting License Tax
Inheritance Tax
Interest expense
Inventory tax
IRS Interest Charges IRS Penalties (tax on top of tax)
Liquor Tax
Luxury Taxes
Marriage License Tax
Medicare Tax
Property Tax
Real Estate Tax
Service charge taxes
Social Security Tax
Road usage taxes
City Sales Tax
Recreational Vehicle Tax
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
Utility Taxes
Vehicle License Registration Tax
Vehicle Sales Tax
Watercraft registration Tax
Well Permit Tax
Workers Compensation Tax
I am sure there are dozens more! Many of these taxes are levied AFTER your federal state and local income tax…so effectively you are paying these additional taxes with after tax money; doubling our pain.
Not one of these taxes existed 100 years ago,
and our nation was the most prosperous in the world.
We had absolutely no national debt, had the largest middle class in the world, and Mom stayed home to raise the kids.
Wouldn’t it be nice to REDUCE or ELIMINATE your tax burden?
Send me an email and learn how the wealthy legally reduce their tax burden. dcrowe@themayanislands.com.
Filed under: Articles Tagged: | economy, ex patriate, federal taxes, income tax, money, News, obama, offshore, real estate, tax haven, wealth
I am sure that when th eFed ends its purchase of Mortgage Backed Securities, that foreign investors will eagerly rush in to pick up the slack and then some. What investor in Europe or Asia could resist investing in the US mortgage market with falling real estate values , rising foreclosures and the possibility that mortgage holders can be forced to write down the principal balance of the mortgage by the court system? I would think that Sovereign wealth funds using government funds would be especially open to this type of investment.