Do Americans “dramatically underestimate“ taxes? Not only do more than half of Americans believe they are overtaxed, it turns out that many of us don’t even realize that our employer pays more taxes on top of our payroll deductions.  In other words, many Americans don’t realize that your employer is paying an extra price for every worker, money that might otherwise be spent wages, R&D, employee benefits, or investment. I’m just sayin’…

Two interesting polls for your consideration:

• 56% believe they are over taxed.  A March 9th “national telephone survey [found] that 56% of Likely U.S. Voters believe America is overtaxed.”  The survey also found that only one in three Americans were ok with their taxes, while another 12% were unsure.
• 46% are unaware that employers pay matching taxes for payroll deductions. While Americans may think they are overtaxed, an August 8th survey found that many of those same American may not realize how much employers pay in addition to every dollar employees are taxed. “A new Rasmussen Reports national telephone survey shows that only 54% of American Adults recognize that employers pay more taxes on top of the wages paid to an employee.”

[Rasmussen Reports]

Related articles

• Why I Love Mitt Romney’s Tax Plan (whitehouse12.com)
• You Have No Idea How Much Your Boss Pays in Payroll Taxes (hennessysview.com)