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 $550.28Let's say you bought it in Orange County, California. What is everybody's piece of the pie?
Federal: $50.28
State of California: $33.02
Sheriff: $2.75
D.A: $2.75
Orange County: $4.12
City: $4.12
Roads: $1.38
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.
Regulatory burdens.
And so on and so forth.
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