running the booksJuly 22, 2026savingJuly 22, 2026 July 22, 2026 A tax that is added to an item’s cost when it is purchased and applies to a single category or an entire group of goods. Related Articles: What Is a Sandwich?The Unintended Consequences of a Menthol Cigarette BanWhy Higher Tariffs and a Wealth Tax Won’t WorkHow Elections Affect Our SpendingThe Best and Worst Tax Systems Share