Everyone is familiar with the standard nutrition label.You'll find them on pretty much everything you eat, you may soon find them on restaurant menus.
Perhaps we need a tax and duties label.Let's say you buy an Armani suit that is worth $500. That suit has an import duty of 10% plus $0.386 per kilogram. I did a little research and found out that the average suit weight 1.6 pounds so our total is now $550.28
Let's say you bought it in Orange County, California. What is everybody's piece of the pie?
State of California: $33.02
Orange County: $4.12
Health & Welfare: $2.75
State Optional Fund: $1.38
Orange County Transportation: $2.75
Total Tax and Duties: $105.30
Total Price to Consumer: $605.58
So, on top of whatever percent you are paying in income tax, tack on another 21.06% for every suit you buy.
How'd you like to see that label on everything you buy?We could even get a little more creative and add in the other costs associated with that $500.00 suit.
Fuel Taxes for transport.
Road Taxes for mileage.
And so on and so forth.