When you hear Capital Punishment, you a probably thinking about the death penalty. Well I am going to talk about the other certainty of life, taxes. The tax burden in the US is not the heftiest in the world, but that does not mean it is small. It is most of it you just don’t see, but you pay it none the less. A good chunk of your taxes are paid before you have the chance to feel the money, in payroll deductions. So how much are you really paying? The average tax burden in 2008 was 28.2%13. What does this mean? In short nearly 1/3 of what you earn goes to taxes, lets see how.
Say you want to buy a new TV. You find a nice flat screen at a local retailer, just what you where looking for. It cost $999.99 dollars for the TV, but you know you have to account for sales tax, thinking it will only minimize the overall increase of your purchase you get it. But how much did it really cost you? How much Tax did you just pay to get this new TV? Well it was not just sales tax, it was not just taxes at all. Lets look at what it REALLY cost, and how much tax you really just paid to get this treat!
