January 2008

Taxing Situation

Politicians make lots of references to taxes. Some claim to be opposed to raising them; others are determined to make them fairer; abolish this one; sunset that one; simplify them; flatten them; make them more progressive; less regressive; and the list goes on.

One seldom sees a list of all the taxes that might be considered when trying to come to some position on taxes. Here’s my try.

Individual income tax

Corporate income tax

Sales tax

Use tax

Real estate tax

FICA withholding tax

Medicare withholding tax

Unemployment tax

Luxury tax

Cigarette tax

Alcohol tax

Gasoline tax

Local communications services tax

State communications services tax

Federal excise tax

Capital gains tax

Rooms and meals tax

School tax

Estate tax

Gift tax

Self employment tax

Surtax

Town tax

County tax

Property transfer tax

Foreign tax

Holding company tax

Alternative minimum tax

Wait a minute. I don’t think we have a luxury tax anymore; or — depending on your age — yet. 

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