When people contemplate taxation they often think about income and property taxes, yet there are a lot of other way Americans are taxed at the Federal and State level that we might not know about. The author of this column discusses how the goods and services that we buy are subject to a different tax at just about every stage of production and distribution. There are a wide variety of taxes imposed from the manufacturing stage up to the final retail sales stage. The burdens of paying these different levels of taxes are often borne by the consumer in the form of higher prices for goods and services.
See Henry K. Hebeler, Tax rates are far higher than we realize, Market Watch, June 8, 2015.
Special thanks to Jim Hillhouse for bringing this article to my attention.
