The Greedy Hand

The SEC and other gub'ment officials speak of the importance of disclosure in capital markets. Pity gub'ments don't like sunlight on taxes. The New York Post today has a wonderfully insightful story on how various gub'ments tax utility bills in an underhanded way. The Post reports, "A shocking 22 percent of a typical city apartment dweller's Con Ed electric bill goes to a battery of city, state and federal taxes under a new state rate schedule that kicks in this month . . . ." But good luck finding the levies broken out on your bill.

Imagine: A sales tax that taxes taxes elsewhere in the electric bill. Whew!