Sales Tax Inflation Crisis: Impact on Families, Cities, and Economic Disparities

• Sales taxes are at a 50-year high and play a crucial role in funding government services
• Elder care costs have increased by 40% in three years and child care costs have increased by 76% in 40 months
• Sales taxes disproportionately affect vulnerable Americans such as the poor, women, and minorities
• Sales tax rates in big cities in the USA are high, with some cities imposing rates as high as 10.25%
• Inflation erodes the purchasing power of money and can lead to increased tax receipts for governments
• Some major cities impose higher sales tax rates than others, leading to pressure to adjust taxes and fees
• Wages have not kept up with inflation, leading to a greater burden on families due to increased sales taxes.

Source: newsmax.com

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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