Are These 10 Big Tax Hikes Coming To America?


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?


We’ll have to do the same thing.

See the 10 UK tax hikes that could be coming to America one day >

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%.

Source: UK Budget

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%.

Source: UK Budget

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.

Source: UK Budget

Gas Tax: A one pence per liter tax increase

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

Source: UK Budget

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.

Source: UK Budget

Stamp Tax: 5% increase for all residential property sales over £1 million

U.S. Equivalent: An additional tax of 5% on every property sale over $1.5 million.

Source: UK Budget

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.

Source: UK Budget

1% increase in National Insurance contributions

U.S. Equivalent: An increase of 1% on your regularly payroll contributions to Social Security.

Source: UK Budget

Removal of tax haven status for Belize, Grenada, and Dominica

U.S. Equivalent: Removal of tax haven status for the Cayman Islands.

Source: UK Budget

Inheritance tax exemption held at £325,000

U.S. Equivalent: Of all money inherited, only $485,193 is done tax free.

Source: UK Budget

Now Check Out How The U.S. Government Would Look Under An Austerity Budget

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