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Sunday, April 24, 2011

Taxes and Car Insurance - Taxes in Our Daily Life

Someone recently pointed out to me this very short article - "5 Ways Taxes Affect Your Car Insurance." One notes that a tax lien can affect your insurance cost. Another way isn't really a tax, but is a good example of how the word sometimes gets used too broadly. The reference is to a "fraud tax." This isn't collected by the government, so it is not a tax, but refers to an increase in auto insurance costs for everyone due to fraudulent claims filed by others.

And one way is a reminder, relevant to today's discussions about tax rates and reform, that prices of goods include some portion of the taxes paid by the seller or service provider.

Similar articles could cover ways taxes affect your vacation, your grocery bill (even in a state that doesn't impose sales tax on food), and your utility bills. Other ideas?

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