Have any of you considered how much tax is generated by a single dollar bill over it’s life? If anyone knows will you please let men know?
Say I make $1 a day. Out of this dollar I pay taxes. First right off the top is Federal Income Tax, FICA, State Income tax, and Local Option tax. I’m probably forgetting something here (remember I haven’t had a check in 3 years now. Then we have State sales tax, property tax, excise tax, wheel tax, we pay sales tax on anything we buy except some food. We have gas tax, NOT just STATE, FEDERAL, (don’t forget the sales tax here too) and we have road tax. There are probably, I’ll bet taxes we do not know we pay.
So now you take all these taxes on my dollar, multiply it by everyone who gets my dollar. Because they have to pay these same taxes.
You know I think could retire on the tax that only one dollar makes.
That Is How I See It.