If you think that the sales tax that’s shown on your receipt is the only tax you’re paying on a retail transaction, you are sadly mistaken. You don’t see it on your receipt, but today’s retail prices are significantly inflated by the billions of dollars in costs that the federal income tax system imposes on businesses of every size.
This week, the FAIRtax Guys revisit chapter five of Boortz and Linder’s FAIRtax book to explain how the income tax system drives up the price of everything you buy.