PEACENOTWAR MAKEFRIENDNOTENEMY FEAR ALLAH NOT MAN.ISLAM MEANS PEACE.ISLAM FOR ALL. MUSLIMS ARE NOT TERRORIST AND TERRORIST ARE NOT MUSLIM.PLEASE BE INFORMED THAT ALL PICTURES AND TEXT IN THIS BLOG ARE TAKEN FROM THE WEB UNDER FAIR USE TREATY AND FOR MY PERSONAL COLLECTION.IF THEIR OWNERS DO NOT LIKE THEIR PICTURES OR ARTICLES APPEAR IN THIS BLOG,PLEASE CONTACT ME TO DELETE..THANKS.
Monday, December 27, 2010
We all know banks were forced to make risky real estate loans by the government. The banks are not at fault here, but democrats in Congress that forced the banks to make these loans are at fault. Nearly 300 banks have failed in the last two years. Now another 98, or perhaps even more will fail in 2011. The writing may already be on the wall for us. Take a look at Greece, Portugal, Spain, and Ireland. We are very close to joining their ranks..after their Fat Cat directors clean out the coffers on their way out the doors!!!...("we are only collecting our entitlements!")Our federal government, it would appear, has gone from tax and spend, to spend and tax. The elected have exceeded their credit limit, so now expect the working class to bail them out, by "taking over their payments" through higher taxes. Remember, "fees" charged by the government are just another form of tax. In areas where taxes cannot be raise without voter consent, various fees have been raised, and/or new fees invented, to increase revenue. In Missouri, sales taxes, on tobacco and alcohol products, have been illegally collected for decades. Why, how? Because the sales tax is charged on the entire cost at the register, which includes federal and state, and sometime county and city, special tobacco and alcohol tax. This results in the purchaser paying tax on tax. In Missouri, Federal cigarette tax of $1.01 per pack ($10.10 per carton) State tax of $0.17 per pack ($1.70 per carton) this is $11.80 per carton in taxes, on top of that Kansas City adds another tobacco tax (amount not known). When purchased the buyer pays sales tax on the entire posted price. Example: Brand X is posted at $19.00 per carton, of this at least $11.80 is federal and state tobacco tax, this leaves only $7.20 for the actual cost of the product, BUT the sales taxes of the state and city are charged on the $19.00. This results in sales tax being charged on special tobacco taxes of $11.80. A tax on tax. When I personally asked an employee of the Missouri Department of Revenue about this, he agreed with me that the legality of taxing tax is questionable. He also mentioned that the cost to the state/city of calculating how much the entities (state and local) had collected over the decades and then refunding those amounts to the person (or family of) would wreak havoc on the finances of the state/city that had charged them. I’m certain that the totals would range in the millions, if not billions of dollars, of taxes collected possibly illegally. Some states do not have similar tax structure, while others do. Recall, earlier I mentioned this situation also exists on alcohol products. Add to that jewelry and probably other products that have special taxes, “excise tax” some are called. Import "fees" are another form of taxation. Just because a charge is called a "fee" does not remove the fact, it is still a form of taxation to the end purchaser. Similar to taxes and fees charged to businesses, these are forms of government revenue, that add to the ultimate cost of the product, paid by the purchaser, IE; YOU and I. I could go on, but this should cause an awakening in some readers.
No comments:
Post a Comment