Tuesday, August 10, 2010

No Tax Tuesday!

ReadMySignImage by Seven_Null7 via Flickr
How about a No Tax Tuesday, once a month?
Consumers don't pay taxes on purchases.
Businesses don't pay taxes on sales.
Employees don't have to pay income tax, State or Federal!
For one Tuesday a month you keep what you earn!

How about a visit to the gasoline pump? Nationwide we pay about 62 cents per gallon (cpg)of taxes. If you buy 10 gallon of gas that's about $6.20. In California it is more like 63.9 cents per gallon or $6.40. My family owns two vehicles and it takes more like 30 gallons to fill up which means about $20.00 in taxes. No Tax Tuesday means I pay about $20 less.

Now, I have two school aged children and it's back to school shopping time. Here in the formerly great state of California we pay 9.75% sales tax. So, for every $100 I actually only buy $90.25 of clothes. Spending $400 is not that hard for back to school stuff. The breakdown on $400 is $39 for the government and $361 for my children.

Now, if No Tax Tuesday includes my income for that day...well now we're talking. If I was only in the 25% tax bracket (state and federal) that would be $25 for every $100 dollars earned. If I make $200 a day that's $50.

So, if I save $20 on gas, $39 on clothes, and $50 on taxes that comes out to $109. Now, I can do a lot more for my family with that money than the government waste plans can do.

What about you? What do you think about a NO TAX TUESDAY?

Gas Taxes Info
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