It can be thought of the same way, but not from the perspective that's under discussion. As such it doesn't really add anything except a new perspective. Why are you introducing it, what does it add?

You don't have to worry about tax implications when timing stock sale.

Calling the expense ratio a tax is like calling the labor cost of your car repair a tax. The expense ratio is what the fund manager is charging to cover their labor and expenses. It's not a tax on the transaction going to the government.

No, I am saying the tax is like an additional expense ratio.

Ah, that makes more sense. Sorry I was not getting there from the original comment.