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Monday, January 28, 2019

Are We Being Overtaxed?

A tax increase here, a tax increase there, here a tax, there a tax, everywhere a tax increase...have you considered exactly how many taxes we already pay?
WE THE PEOPLE need to understand just how many taxes are in place for the average American taxpayer.

According to BalancedPolitics.org here is a list of Personal/Consumer Taxes & Fees Americans pay. (note that this list does not include the other taxes if you are also a business owner.)
Federal income tax
    State income tax
    Local income tax 
    Employee social security tax (your employer pays the other half) 
    Employee Medicare tax (your employer pays the other half) 
    Property taxes (in SC this is local not state at present)
    Road toll charges 
    State sales tax 
    Driver's license renewal fee 
    TV Cable/Satellite fees & taxes 
    Federal telephone surtax, excise tax, and universal surcharge State telephone excise tax and surcharge Telephone minimum usage and recurring/nonrecurring charges tax 
    Gas/electric bill fees & taxes 
    Water/sewer fees & taxes 
    Cigarette tax 
    Alcohol tax 
    Federal gasoline tax 
    State gasoline tax 
    Local gasoline tax 
    Federal inheritance tax 
    State inheritance tax 
    Gift tax 
    Bridge toll charges 
    Marriage license 
    Hunting license 
    Fishing license 
    Bike license fee 
    Dog permit/license 
    State park permit 
    Watercraft registration & licensing fees 
    Sports stadium tax 
    Bike/nature trail permit 
    Court case filing fee 
    Retirement account early withdrawal penalty 
    Individual health insurance mandate tax 
    Hotel stay tax 
    Plastic surgery surcharge 
    Soda/fatty-food tax 
    Air transportation tax 
    Electronic transmission of tax return fees 
    Passport application/renewal fee 
    Luxury & gas-guzzler car taxes 
    New car surcharge 
    License plate and car ownership transfer taxes 
    Yacht and luxury boat taxes 
    Jewelry taxes & surcharges 
    State/local school tax 
    Recreational vehicle tax 
    Special assessments for road repairs or construction 
    Gun ownership permit 
    Kiddie tax (IRS form 8615) 
    Fuel gross receipts tax 
    Waste Management tax 
    Oil and gas assessment tax 
    Use taxes (on out-of-state purchase) 
    IRA rollover tax/withdrawal penalties 
    Tax on non-qualified health saving account distributions 
    Individual and small business surtax (page 336 of Obamacare) 
    Estimated income tax underpayment penalty 
    Alternative Minimum Tax on income 
Another concerning possible tax has come to light recently. According to the SC Policy Council, within our SC State Constitution lies an amendment for the provision for an automatic “STATE” property tax to be imposed if the state cannot make a payment on bond debt? And with our state being in debt over $44,460,295 and rising according to the debt clock, we are on shaky ground and could see a state property tax kick in. It will require a 2/3 vote by SC House and Senate to repeal that amendment that allows this addition of a STATE property tax to kick in. Citizens should be contacting their legislators to protect taxpayers by repealing that amendment to the Constitution. We must force our elected to be more responsible in their borrowing. They shouldn't be putting us in more debt, or we may indeed see a State property tax come into existence.
Now let's talk about the recent gasoline tax SC legislators imposed upon us. When SC legislators passed the gas-tax-hike law, which raised the gas tax 12 cents per gallon over six years, and also increased vehicle taxes and fees, they promised we would see improvements in our maintenance of roads. Have you seen improvement taking place in your county? 
Finally let's all remember SC has a surplus in the coffers this year of over $1 billion dollars. Will any of that money come back to the taxpayers? Shouldn't our taxes be reduced at least? Will pork-barrel-type expenditures take place due to this “surplus” of OUR taxes? If history holds true to form...the SC taxpayers will not get anything back.
With our debt increasing minute by minute, legislators always wanting more money from the taxpayer, and according to gobankingrates.com SC is the sixteenth lowest total tax bill in the nation at a total of $13,562 on the average per taxpayer...we may see our legislators rationalizing taxpayers can afford more tax.
The site broke it down in the article written by John Csiszar on Jan. 19, 2019 to these numbers for the average SC taxpayer:
Fed income tax paid $6,251
State income tax paid $3,183
Gas tax paid $ 257
Sales tax paid $ 2,932
Property tax paid $ 939
Let's not ever forget that the Revolutionary War was fought over one of the main grievances being unfair taxation.
A great quote from former President of the United States Calvin Coolidge is appropriate to summarize what is truth, “Collecting more taxes than is absolute necessary is legalized robbery.”
by Johnnelle Raines

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