Are These 10 Big Tax Hikes Coming To America?

Gregory White
Business Insider
Thursday, March 25, 2010

The British Government released its 2010 Budget Wednesday, revealing a cut in services and an expansion in taxes for many UK residents.

Of course, the UK budget has been out of control for years, so this represents the chickens coming home to roost, so to speak.

You know another budget that’s out of control?

America’s.

We’ll have to do the same thing.

Cider Tax: 10% Sweet booze tax hike

U.S. Equivalent: Raising the alcohol tax on a specific type of drink, like wine coolers or alcopops (Barcardi Breezers, etc.) 10%.

Tobacco Tax: 1-2% Increase in taxes on smoking

U.S. Equivalent: A yearly increase on tobacco taxes of 1% in 2010. Thereafter, a yearly increase on those taxes of 2%.

• A d v e r t i s e m e n t

Alcohol Tax: 2% Increase in all drinking taxes

U.S. Equivalent: Everything you drink with alcohol in it, from beer to whiskey, sees a 2% increase at the point of sale, including the pub and bar.

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Gas Tax: A one pence per liter tax increase

U.S. Equivalent: An extra tax of approximately $.06 on every gallon of gasoline.

Landfill Tax: £8 increase per tonne of waste

U.S. Equivalent: An extra $12 in tax for every 2204 pounds of waste you or your business produces.

Increase in highest income tax to 50% for those making over £150,000

U.S. Equivalent: An income tax of 50% for people making over $224,000.

Full story here.

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