This afternoon as I was talking to a friend the subject of taxes came up. In case you haven't heard Chicago and Cook County, IL have the highest sales tax rates in the country. I like most people don't pay much attention to the sales taxes most of us pay. However after today's conversation I decided to look at the reciept for my purchases this afternoon.
A quick trip to CVS to purchase a 2 Liter of Diet Coke, some Bud Light (it is the weekend), a bag of chips, and a smaller bag of chips for my buddy is resulted in $1.61 in taxes. 11% in Sales tax...didn't we fight a revolution over this. (Reciept)
A quick analysis reveals the following:
Cook County Charges a 1% Liquor Tax
The City of Chicago a 4% Liquor Tax
There is a 13.25% Tax on my Diet Coke.
In addition to the above liquor taxes my 12 pack of Budlight was taxed an additional $0.92 (10.25%)
My Chips (Junk Food) were taxed @ 2.25%.
In addition to toll roads, state and federal income taxes, the taxes on gasoline, real estate transfer taxes, and God only knows what other taxes we pay daily, it is no wonder we find ourselves in the present situation.
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