How many categories of taxes are there

how many categories of taxes are there

Answers

Gasoline tax (42 cents per gallon)

Generation Skipping Tax

Local income tax

Luxury taxes

Marriage license tax

Medicare tax

Property tax

Way too many.

We can kill income, death. payroll, SS, Medicare with the Fair Tax Act. H.R. 25 / S.R. 1025 www.fairtax.org

Quick Facts

Discussions with focus groups of Americans showed that what citizens want is a tax system that provides Fairness, Simplicity, and Visibility. The FairTax achieves these objectives through:

Simplicity — one rate for everyone; no tax filings

Fairness — is progressive, protecting the poor through a tax rebate on the necessities of life; no loopholes, therefore everyone pays the same rate on every purchase

Visibility

— any change in the tax rate shows on every cash register receipt

And in addition, the FairTax produces the following:

It lets every worker keep their entire pay check — no payroll or income taxes

It allows those at/below the poverty level to have zero or negative taxes

It lets retirees keep their full pension or Social Security checks — untaxed

It lets everyone keep their capital gains and investment income — untaxed

It encourages savings and investment — creating greater national growth and productivity

It encourages repatriation of wealth from tax havens providing much needed capital to fuel

the growth of our own economy

It stimulates exports — leading to greater U.S. employment

Source: answers.yahoo.com

Category: Taxes

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