Next Question
RSS
(The earlier answer would be for the British people, not Americans.)
This list includes the taxes American people pay directly, as well as the corporate and commercial taxes paid indirectly through prices of domestic products purchased and tarrifs paid indirectly through prices of foreign products purchased, etc:
* Alternative Minimum Tax (AMT)
* U.S. capital gains tax
* Corporate income tax
* U.S. estate tax
* U.S. excise tax (includes taxes on cigarettes and alcoholic beverages)
* U.S. federal income tax
* Federal unemployment tax (FUTA)
* FICA tax (includes employee-paid and company-paid Social Security tax and related programs)
* Gasoline tax
* Generation Skipping Tax
* Gift tax
* IRS penalties and interest on unpaid taxes
* Local income tax
* Luxury taxes
* Property tax
* Real estate tax
* Recreational vehicle tax
* Rental car tax
* Resort tax (also known as Hotel/Motel tax, occupancy tax)
* Road usage taxes (Commercial Vehicle Operators)
* Sales tax and equivalent use tax
* School tax
* State income tax
* State unemployment tax (SUTA)
* Tariffs
* Telephone federal excise tax
* Vehicle sales tax
* Workers compensation tax
* Corporate Loans Tax
* Corporate Stock Tax
* Utilities Gross Receipts Tax
* Public Utility Realty Tax
* Bank Shares Tax/Bank Loans Tax
* Mutual Thrift Institutions Tax
* Insurance Premiums Tax
* Marine Insurance Premiums Tax
* Liquid Fuels and Fuels Tax
* IFTA or Motor Carriers Road Tax
* Malt Beverage Tax
* Cigarette Tax
* Alcohol tax
Not specifically cited in the sources referenced, but significant enough to include separately IMO:
* Taxes on credit card company write-offs (Credit Reform Act of 2006)
* Taxes on gambling winnings
* Toll road fees
* Entrance fees for National and State parks and museums
* Penalties on early 401K withdrawals or transfers not re-invested
* Loss of any unused portion of medical savings plans
Unfortunately I don't think you can include the devastating financial and ripple effects of jobs lost due to cancellation of the F-22 contracts, closing of car dealerships and other things like that.
It would be interesting to add up all the percentages of the list above and see what the total percentage of an average person's income that reaches - I've heard estimates of 70+%
Source(s):
http://en.wikipedia.org/wiki/Taxation_in_the_United_States#List_of_taxes
http://www.etides.state.pa.us/Instructions/taxtoc.htm
http://www.flickr.com/groups/pittsburgh/discuss/72157603603295891/
Permalink | Report
Income Tax on earnings, pensions and benefits
You pay Income Tax on:
your wages if you're employed
the profits from your business if you're self-employed
your State Pension and any company or private pensions
some benefits like Jobseeker's Allowance, Carer's Allowance and Incapacity Benefit
As well as paying Income Tax on your wages and on income from self-employment, you also have to pay National Insurance contributions (NICs).
If you're an employee, your employer operates PAYE (Pay As You Earn) and deducts tax and NICs from your wages. If you're self-employed you'll be responsible for paying your own tax and NICs and filling in your Self Assessment tax return.
More on Income Tax and how to pay
More on National Insurance
Income Tax on savings and investments
You pay Income Tax on most of the income you get from your savings and investments. This includes:
bank and building society interest
dividends from shares
rents from any investment properties you own
Bank and building society interest and dividends are usually 'taxed at source' (meaning tax is deducted before they're paid to you).
Tax on bank and building society accounts
Tax on UK dividends
Tax on rental income
Tax on certain types of transaction
You may have to pay tax when you buy or sell things or give them away, for example:
Capital Gains Tax if you sell or give away assets
Stamp Duty when you buy property or shares
Inheritance Tax on your estate when you die, including some gifts made up to seven years beforehand
For more information on these taxes and the different ways you pay them follow the links below.
More on Capital Gains Tax
More on Stamp Duty
Tax on goods and services
When you buy goods and services, there are various taxes you may have to pay, like:
Value Added Tax (VAT) on many everyday purchases
Fuel Duty on petrol, diesel and LPG
Excise Duty on alcohol and tobacco
General Betting Duty
Taxes like VAT and the duties on fuel, alcohol, tobacco and betting are charged at flat rates and are added to the price you pay for the goods or services.
More about VAT
Tax for local services
As well as paying tax to pay for public services you may have to pay Council Tax to help pay for local services like policing and refuse collection.
The amount of Council Tax you pay depends on the 'valuation band' your home is in and the Council Tax rates set by your local council.
For more information on Council Tax and how you pay it read follow the link below.
Council Tax - who pays and how much (Home and community section)
Source(s):
http://www.direct.gov.uk/en/MoneyTaxAndBenefits/Taxes/BeginnersGuideToTax/D...
Permalink | Report
Source(s):
www.irs.com
Permalink | Report
According to this inflation calculator: http://www.dollartimes.com/calculators/inflation.htm
$1.00 in 2009 had about the same buying power as $0.05 in 1914.
Annual inflation over this period was about 3.26%. Inflation is a regressive tax, as it affects the poor and middle class more than the rich, because they hold more of their assets in cash.
Some people advocate that we go back to the gold standard, notably Ron Paul, who would actually like to eliminate the Federal Reserve, because the boom bust cycles we experience is due to Federal Reserve policy, causing significant mal-investment. For example, the easy money policy of a few years ago, created the housing boom, which is now collapsing.
Source(s):
http://en.wikipedia.org/wiki/Inflation_tax
http://www.dollartimes.com/calculators/inflation.htm
http://en.wikipedia.org/wiki/Gold_standard
http://www.runtogold.com/
Permalink | Report
Answered Question
M$1.60
August 20, 2009 09:16 PM
Can you name all the diffrent ways the goverment taxes the American people,
I am just curious as to how many diffrent kinds of taxes there are?
- In Society & Culture |
- |
- Report |
-
Share
RSS
Best Answer Decided by Votes
| August 20, 2009 10:25 PM |
This list includes the taxes American people pay directly, as well as the corporate and commercial taxes paid indirectly through prices of domestic products purchased and tarrifs paid indirectly through prices of foreign products purchased, etc:
* Alternative Minimum Tax (AMT)
* U.S. capital gains tax
* Corporate income tax
* U.S. estate tax
* U.S. excise tax (includes taxes on cigarettes and alcoholic beverages)
* U.S. federal income tax
* Federal unemployment tax (FUTA)
* FICA tax (includes employee-paid and company-paid Social Security tax and related programs)
* Gasoline tax
* Generation Skipping Tax
* Gift tax
* IRS penalties and interest on unpaid taxes
* Local income tax
* Luxury taxes
* Property tax
* Real estate tax
* Recreational vehicle tax
* Rental car tax
* Resort tax (also known as Hotel/Motel tax, occupancy tax)
* Road usage taxes (Commercial Vehicle Operators)
* Sales tax and equivalent use tax
* School tax
* State income tax
* State unemployment tax (SUTA)
* Tariffs
* Telephone federal excise tax
* Vehicle sales tax
* Workers compensation tax
* Corporate Loans Tax
* Corporate Stock Tax
* Utilities Gross Receipts Tax
* Public Utility Realty Tax
* Bank Shares Tax/Bank Loans Tax
* Mutual Thrift Institutions Tax
* Insurance Premiums Tax
* Marine Insurance Premiums Tax
* Liquid Fuels and Fuels Tax
* IFTA or Motor Carriers Road Tax
* Malt Beverage Tax
* Cigarette Tax
* Alcohol tax
Not specifically cited in the sources referenced, but significant enough to include separately IMO:
* Taxes on credit card company write-offs (Credit Reform Act of 2006)
* Taxes on gambling winnings
* Toll road fees
* Entrance fees for National and State parks and museums
* Penalties on early 401K withdrawals or transfers not re-invested
* Loss of any unused portion of medical savings plans
Unfortunately I don't think you can include the devastating financial and ripple effects of jobs lost due to cancellation of the F-22 contracts, closing of car dealerships and other things like that.
It would be interesting to add up all the percentages of the list above and see what the total percentage of an average person's income that reaches - I've heard estimates of 70+%
Source(s):
http://en.wikipedia.org/wiki/Taxation_in_the_United_States#List_of_taxes
http://www.etides.state.pa.us/Instructions/taxtoc.htm
http://www.flickr.com/groups/pittsburgh/discuss/72157603603295891/
Permalink | Report
Reply
Other Answers (3)
August 20, 2009 09:40 PM
The different types of tax Income Tax on earnings, pensions and benefits
You pay Income Tax on:
your wages if you're employed
the profits from your business if you're self-employed
your State Pension and any company or private pensions
some benefits like Jobseeker's Allowance, Carer's Allowance and Incapacity Benefit
As well as paying Income Tax on your wages and on income from self-employment, you also have to pay National Insurance contributions (NICs).
If you're an employee, your employer operates PAYE (Pay As You Earn) and deducts tax and NICs from your wages. If you're self-employed you'll be responsible for paying your own tax and NICs and filling in your Self Assessment tax return.
More on Income Tax and how to pay
More on National Insurance
Income Tax on savings and investments
You pay Income Tax on most of the income you get from your savings and investments. This includes:
bank and building society interest
dividends from shares
rents from any investment properties you own
Bank and building society interest and dividends are usually 'taxed at source' (meaning tax is deducted before they're paid to you).
Tax on bank and building society accounts
Tax on UK dividends
Tax on rental income
Tax on certain types of transaction
You may have to pay tax when you buy or sell things or give them away, for example:
Capital Gains Tax if you sell or give away assets
Stamp Duty when you buy property or shares
Inheritance Tax on your estate when you die, including some gifts made up to seven years beforehand
For more information on these taxes and the different ways you pay them follow the links below.
More on Capital Gains Tax
More on Stamp Duty
Tax on goods and services
When you buy goods and services, there are various taxes you may have to pay, like:
Value Added Tax (VAT) on many everyday purchases
Fuel Duty on petrol, diesel and LPG
Excise Duty on alcohol and tobacco
General Betting Duty
Taxes like VAT and the duties on fuel, alcohol, tobacco and betting are charged at flat rates and are added to the price you pay for the goods or services.
More about VAT
Tax for local services
As well as paying tax to pay for public services you may have to pay Council Tax to help pay for local services like policing and refuse collection.
The amount of Council Tax you pay depends on the 'valuation band' your home is in and the Council Tax rates set by your local council.
For more information on Council Tax and how you pay it read follow the link below.
Council Tax - who pays and how much (Home and community section)
Source(s):
http://www.direct.gov.uk/en/MoneyTaxAndBenefits/Taxes/BeginnersGuideToTax/D...
Permalink | Report
Reply
August 21, 2009 06:51 PM
You should be able to get all the details "straight from the horses mouth" at http://www.irs.gov/taxpros/article/0,,id=98137,00.html
Source(s):
www.irs.com
Permalink | Report
Reply
August 23, 2009 08:32 AM
Beside the aforementioned taxes itemized in previous posts is the inflation tax, an insidious tax that most people are not aware of. This is due to our government spending more than it takes in, to pay for war, for example. And in order to finance this deficit, money is created by the Federal Reserve out of thin air. It's called fiat money because a Federal Reserve Note is no longer backed by gold. Putting more money into circulation dilutes the value of money already in circulation. Furthermore, our government promises benefits, such as Social Security, Medicare and other entitlements and so the Federal Reserve is driven to print even more money to cover these unfunded government liabilities. According to this inflation calculator: http://www.dollartimes.com/calculators/inflation.htm
$1.00 in 2009 had about the same buying power as $0.05 in 1914.
Annual inflation over this period was about 3.26%. Inflation is a regressive tax, as it affects the poor and middle class more than the rich, because they hold more of their assets in cash.
Some people advocate that we go back to the gold standard, notably Ron Paul, who would actually like to eliminate the Federal Reserve, because the boom bust cycles we experience is due to Federal Reserve policy, causing significant mal-investment. For example, the easy money policy of a few years ago, created the housing boom, which is now collapsing.
Source(s):
http://en.wikipedia.org/wiki/Inflation_tax
http://www.dollartimes.com/calculators/inflation.htm
http://en.wikipedia.org/wiki/Gold_standard
http://www.runtogold.com/
Permalink | Report
Reply
Answer this Question
Related Questions
Ask a Question
Buy Mahalo Dollars with Credit Card or PayPal
Top Members
Most Popular Tags
Categories
- Anonymous
-
Arts & Design
-
Beauty & Style
-
Books & Authors
-
Business
-
Cars & Transportation
-
Consumer Electronics
- Coupons Deals
-
Education
-
Entertainment
-
Environment
-
Fitness
-
Food & Drink
- From Email
- From Iphone
- From Twitter
-
Health
-
History
-
Hobbies
-
Home & Garden
-
How Tos
-
Humor
-
Jobs
-
Legal
-
Local
-
Love & Relationships
-
Mahalo Answers Community
-
Money
-
Music
-
News
-
NSFW
-
Parenting
-
Pets
-
Science & Mathematics
-
Services
-
Shopping
-
Social Science
-
Society & Culture
-
Sports
-
Technology & Internet
-
Travel
-
Video Games
Welcome New Members
- chester_007, November 30, 2009 11:47 AM
- rad, November 30, 2009 11:36 AM
- bkb09, November 30, 2009 11:05 AM
- pisica, November 30, 2009 10:38 AM
- nathansmith, November 30, 2009 10:32 AM
Mahalo Dollars are the currency of Mahalo Answers.
Each Mahalo Dollar costs $1.
Once you earn more than 40 Mahalo Dollars, you can request to be paid via PayPal. Each Mahalo Dollar is currently worth $0.75 when paid out via PayPal. Learn More
* cost of services written off by American doctors and lawyers whose businesses are required to provide services without payment
* hospital costs and health insurance costs passed on to American consumers as a result of services they are required to provide without payment