Taxes in America
Posted by jaybeacham on 20 May 2022 | Tagged as: blog
Taxes in America
Colonial times:
Due to parliament’s taxations on tea, such as the stamp act and the 25% importation tax, the British East India Company was unable to make their tea sales impervious to competition. The colonists could purchase tea from the Dutch for 2 shillings 2 pence a pound and then smuggle it into the colonies for only 3 shillings per pound of tea.
What taxes did the Tea Act impose on the colonists?
The passing of the Tea Act imposed no new taxes on the American colonies. The tax on tea had existed since the passing of the 1767 Townshend Revenue Act. Along with tea, the Townshend Revenue Act also taxed glass, lead, oil, paint, and paper.
Colonial legislatures gave locally produced crops (cereals, corn, tobacco, rice) official value for payment of taxes. Other lawful commodities included beaver skins, cattle, and wampum (black shells were valued at double the rate of white). Milk pails were accepted as tax payments in the town of Hingham.
The Colonial Roots of American Taxation, 1607-1700. For administrative simplicity, the tax was often combined with the country rate. Although the modern income tax dates from the adoption of the Sixteenth Amendment in 1913, an income-like tax, known as a “faculty” tax, appeared very early in the New England colonies.
The Tea Act, passed by Parliament on May 10, 1773, granted the British East India Company Tea a monopoly on tea sales in the American colonies. This was what ultimately compelled a group of Sons of Liberty members on the night of December 16, 1773 to disguise themselves as Mohawk Indians, board three ships moored in Boston Harbor, and destroy over 92,000 pounds of tea. The Tea Act was the final straw in a series of unpopular policies and taxes imposed by Britain on her American colonies. The policy ignited a “powder keg” of opposition and resentment among American colonists and was the catalyst of the Boston Tea Party. The passing of the Tea Act imposed no new taxes on the American colonies. The tax on tea had existed since the passing of the 1767 Townshend Revenue Act. Along with tea, the Townshend Revenue Act also taxed glass, lead, oil, paint, and paper. Due to boycotts and protests, the Townshend Revenue Act’s taxes were repealed on all commodities except tea in 1770. The tea tax was kept in order to maintain Parliament’s right to tax the colonies. The Tea Act was not intended to anger American colonists, instead it was meant to be a bailout policy to get the British East India Company out of debt. The British East India Company was suffering from massive amounts of debts incurred primarily from annual contractual payments due to the British government totaling £400,000 per year. Additionally, the British East India Company was suffering financially as a result of unstable political and economic issues in India, and European markets were weak due to debts from the French and Indian War among other things. Besides the tax on tea which had been in place since 1767, what fundamentally angered the American colonists about the Tea Act was the British East India Company’s government sanctioned monopoly on tea. (Or just passing the tax along to the consumer.)
How many taxes are there in the United States in 2022?
There are seven federal income tax rates in 2022: 10 percent, 12 percent, 22 percent, 24 percent, 32 percent, 35 percent, and 37 percent. The top marginal income tax rate of 37 percent will hit taxpayers with taxable income above $539,900 for single filers and above $647,850 for married couples filing jointly.
Property tax on real estate, motor vehicles, boats, etc. (Not payable by commodities but money.)
The United States federal excise tax on gasoline is 18.4 cents per gallon and 24.4 cents per gallon for diesel fuel. The federal tax was last raised October 1, 1993 and is not indexed to inflation, plus in some places added state and city fuel taxes.
Sales Tax: Paid by consumer
( In Utah: The state sales tax rate in Utah is 4.850%. With local taxes, the total sales tax rate is between 6.100% and 9.050%. Utah has recent rate changes (Thu Jul 01 2021).
3 % on food.
Taxable services performed in Utah are subject to Utah sales and use tax even if the service is performed on goods later shipped to another state. business purposes, for the time period need to transport it to the borders.
On phone, gas, electric usage.
Vehicle registration tax
Road tax, weight tax for trucks
Inventory tax
Business license tax, corporate tax,
Shipping and handling taxes
Permit taxes for building, hunting, fishing, water usage by homeowners, irrigation companies, licenses for weddings, passports, etc.
County and municipal taxes on property, services, permits.
Fee taxes to visit a national or state park.
Gift tax for both parties.
Employee taxes.
FICA tax.
Special taxes to pay for special items of government: ie. garbage collection, sewer usage, future road and storm drain construction, water conservancy districts, library boards, school boards, mosquito abatement, weed control, etc.
Death tax, inheritance tax,
Licenses to own a dog or in some places a cat.
Luxury tax.
Extra tax on commodities like alcohol, tobacco, firearms,
All paid by consumers or producers.
Would those people from 1776 rebel today?
