Did you know that...
- if you rent, you're paying the property owner's income and property taxes?
- if you buy food, you're paying a farmer's income and property taxes?
- if you fly, you're paying the airline's income taxes, payroll taxes, and property taxes? And also the airline employees' income taxes and payroll taxes?
- if you buy a product made outside the country, you're paying an importer's tariffs and customs duties? In addition to their income and property taxes?
- if you buy a product, you're paying the maker's income and property taxes?
- if you borrow money, you're paying your lender's income and property taxes?
It would be more accurate to say you're paying a portion of the other party's taxes for each of these items and not all their taxes, but you get the idea.
Exit question: Have you paid your fair share of their taxes?
Image credit: Microsoft Copilot Designer. Prompt: "An editorial cartoon of a giant iceberg labeled 'Hidden Taxes.' Above the water, only a tiny tip is visible and labeled 'Sales Tax.' Below the waterline is a massive submerged iceberg labeled with: 'Business Income Tax,' 'Property Tax,' 'Payroll Tax,' 'Regulatory Costs,' 'Licensing Fees,' 'Import Duties,' and 'Fuel Taxes.' In the foreground, a family at a grocery checkout studies a receipt and notices only the small sales tax line. Arrows from the hidden underwater taxes flow upward into grocery price tags and consumer goods. Caption: The tax you see is often the smallest one you pay."
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Closing values for previous trading day.
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