ATR Statement on New Jersey Assembly-Passed Tax Reform Plan https://t.co/HMf33o8uW2
How Much Do Taxes Increase the Cost of Goods and Services?
Americans for Tax Reform Foundation and its Cost of Government Center reveal how much the average price of popular goods and services is driven up by government. The goods and services highlighted are popular targets for revenue-hungry lawmakers who impose “sin” taxes and other punitive costs on products and industries. As such, most of these goods and services are subject to specific and discriminatory excise taxes but the tax “bite” also includes the cost of sales taxes, corporate income taxes, payroll taxes, property taxes, capital gains taxes, unemployment insurance taxes, workers’ compensation taxes, and other payments businesses must make to federal, state and local governments, the costs of which are ultimately passed onto taxpayers.
|Good/Service||Tax Bite||Tax Bite as % of Cost|