Clarity

This week, in honor of Tax Day, CFA is officially launching "Tax Bites."
For the most part, taxpayers are generally unaware just how much of the price of any given good or service is actually brought to them courtesy of the government taking a big bite at the apple.

In an effort to highlight the hidden burdens imposed by government, Americans for Tax Reform Foundation has estimated average prices and taxes imposed on 13 popular targets for multiple layers of hidden taxes.

“Sin” taxes, telecommunications taxes, and taxes on tourists are included in the analysis. While most of these goods and services are subject to specific excise taxes and other charges, the tax “bite” also includes the cost of sales taxes, corporate income taxes, payroll taxes, property taxes, capital gains taxes, unemployment insurance taxes, workmen’s compensation taxes, and other payments businesses must make to federal, state and local governments.