The Dolans on Hidden Taxes You and I Pay

Our favorite radio money advisors have written about hidden taxes we pay on everything from peanut butter to luxury cars to gasoline (don't get me started) to taxes on your insurance premiums.

What a country!

Hidden taxes: Eight you are paying every day by Ken and Daria Dolan Mar 11, 2008

Ken and Daria Dolan are widely known as America's First Family of Personal Finance.

This time of year, we are all well aware of how much we pay Uncle Sam in income taxes. And we all can clearly see the sales tax we pay when we go shopping or enjoy a nice dinner out. We're not happy about them. But at least we know that we're paying those taxes...

Gas Tax ... Guzzler Tax ... Travel Tax ... Sin Tax ... Outdoors Tax ... Insurance Premiums Tax ... Import Tax ... Payroll Tax

Read the full article

It seems the only way to avoid these taxes is to not use the services or products.

Someone should write a book (why not me?) called YOUR TAX FREE LIFE, it'll sell a million-gazillion copies. (I may use it for my next book of poems!)

Check out more of The Dolans on WalletPop.

The Dolans Straight Talk

The Dolans

Copyright © 2008 by Anthony Buccino, all rights reserved. Content may not be used for commercial purposes without written permission.

Relief at the gas pump?

Don't worry, it's only temporary.

We thought this was a mirage at Delta, but the price was correct.

The reality of  the gas pump - NJ prices on Memorial
Day.

Remember the good old days when a gallon of gasoline cost  about a quarter?

Would you be in favor of seeing how much of your gasoline cost goes to state and federal taxes?

Where your gasoline tax dollar goes.
Hidden taxes you and I pay

Copyright © 2012 by Anthony Buccino, all rights reserved. Content may not be used for commercial purposes without written permission.

Fwd: from taxgirl ®

taxgirl ®

Gas Tops $4/Gallon, IRS Finally Ups Mileage Rate Posted: 23 Jun 2008 07:53 PM CDT It cost me nearly $50 to fill my tank this week - $50! And I drive a pretty fuel efficient car. Gas in my home town has hit $4.25/gallon for plain old standard gas. Yuck. Gas prices are just climbing and climbing. At least there's a small break: the mileage rate for business miles has finally been upped for tax purposes. The mileage rate will increase by eight cents to 58.5 cents a mile for all business miles driven as of July 1, 2008. The mileage rate for deductible medical or moving expenses will increase by eight cents to 27 cents a mile. Sadly, the rate for volunteering at charitable organizations is set by statute and remains at a pathetic 14 cents a mile. Congress, are you reading? (Image: Newscom) Tags: Congress, gas, IRS, mileage, mileage-rate, tax Share This

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Where Your Gas Dollar Goes

The industry trade group EnergyTomorrow.org says that the price of the pump is distributed thusly: 

Crude Oil = 56 percent; 

Refining, distribution and service stations = 26 percent; 

Taxes = 18 percent.

Fortunately, New Jersey has one of the lowest state fuel taxes at 14.5 cents per gallon for gasoline and 17.5 cents per gallon for diesel. Unfortunately they've p*ssed it away by ignoring the Trust Fund status to divert it to other needs in our money-hungry state.

According to Trucklines, the federal fuel tax is 18.4. cents a gallon for gasoline and 24.4 cents a gallon for diesel. The national average state fuel tax is 23.43 cents per gallon of gasoline and 23.63 cents per gallon for diesel.

That doesn't quite match the 18 percent taxes the EnergyTomorrow.org folks are quoting. But, you know how it is with statistics. There's lies, damned lies and statistics. And, anyway, EnergyTomorrow is talking about percent and the tax is assessed on a per gallon rate. Three dollars a gallon is still taxed at 18.4 cents, but the percentage drops.

But if you think gas is expensive, wait until you buy some corn flakes. The price of corn has sky rocketed because of the profit margin farmers see in selling the commodity for ethanol production.

In May 2005, a bushel of corn sold for $1.95. In May 2006, a bushel sold for $2.60. Last week, a bushel of corn sold for $3.72.

When corn goes up, your milk costs more because it costs more to buy other animal feedstock because farmers are growing more corn and, Yikes! everything's going up but your paycheck.

Copyright © 2007 by Anthony Buccino, all rights reserved. Content may not be used for commercial purposes without written permission.

Disclosure: From 1990 to 1996, Buccino worked for the New Jersey Motor Truck Association. In 1997, an editorial written The Independent Press of Bloomfield about federal fuel taxes won a prize in the New Jersey Chapter Society of Professional Journalists annual contest. Buccino also goes back a long ways with Kellogg's corn flakes and Dr. Dentons.