Every month, my cell phone bill is a stark reminder of the amount of tax we pay to fund an out-of-control government.
My $59.99 phone plan comes with more than $15, or 26%, tacked on in taxes.
Factor in the federal and California state (9.3%!!!) income tax, and I have to earn $115 to pay a $59.99 phone bill.
Now what does my cell phone provider, Verizon, earn on this? Their profit margin is 14.7%, meaning they earn $8.82 on a $59.99 phone bill -- before corporate income taxes. After taxes, they keep $6.16.
Total take on my monthly phone bill?
Verizon: $ 6.16
Government: $44.40
... and that's without considering any other taxes Verizon and their employees pay. And without considering that Verizon already paid the government billions of dollars to "buy" the spectrum used to provide the service. And when Verizon distributes those earnings to shareholders as dividends, the government takes another cut.
Free enterprise, indeed!
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