NO TAX INCREASES ...

... on 95% of U.S. taxpayers, so said President Obama. Here’s an interesting little tidbit. An excise tax is a Federal or state tax imposed on the manufacture and distribution of certain non-essential consumer goods such as environmental taxes, communications taxes, fuel taxes – and liquor taxes, and cigarette taxes (which have just gone up 60 cents a pack).

Where does the burden of these taxes fall?



You guessed it – on the lowest two income quintiles, second only to FICA/Medicare taxes.

No new taxes, huh? Nope. Not if you’re an environmentally sensitive, health conscious, non-drinking, non-smoking, non-cell-phone-owning, bicycle-riding-to-work low income taxpayer.