US Taxation v Other Countries! - WE ARE THE HIGHEST

[GHook93]

Corporate Tax - 15-39% Fed; 0-12% State
Income Tax - 0-35 Fed; 0-10% State
Sales Tax - 0-10%
Payroll - 15.3%

Just check the link and compare! Its sick, we are the undisputed kings of taxation! No one is even close. Funny how this country was founded on anger against taxation yet we have surpassed every other nation in the world, even very socialist countries! Absolutely amazing!

Tax rates around the world - Wikipedia, the free encyclopedia

[HelioPrime]

In Denmark they pay something like 60% of their wages in taxes before they see a dime of it. Of course they get alot back in return.

I don't really see the US as paying higher taxes than many European counties...

Are you just talking about specific taxes on good and services? If so they perhaps but 6% sales tax is hardly an issue compared to losing half your take home income.

[GHook93]

Quote by: HelioPrime In Denmark they pay something like 60% of their wages in taxes before they see a dime of it. Of course they get alot back in return.

With a corporate tax rate of 25%, 10% lower than Americans. Yes but for your 60% you get UHC, free college and a heck of a lot of other things. We get highly taxed and little for it.

Are you just talking about specific taxes on good and services? If so they perhaps but 6% sales tax is hardly an issue compared to losing half your take home income.

Look at the payroll tax, corporate tax and sale tax also

[megadeth425]

Is this "highest-taxed" status based on the amount of money, or percentage of the total GDP payed in taxes? But yeah, you guys definitely donm't get as much for your tax money.

[WindWip]

From what I got from that site it looks like the US has the highest corporate income tax with Japan, Germany and Canada right behind us, but the US personal tax rate as a percentage of income is near the lowest.

Look at the graph they provide:
Image:Income Taxes By Country.svg - Wikipedia, the free encyclopedia

This graph doesn't seem to jive with the other information. I don't know anyone who pays over 50% personal income tax... I think there is either a mistake or it is a misleading graph.
ImageIT in World Barry Kent.png - Wikipedia, the free encyclopedia

[Aussie]

was going to say, i thought US had one of the lower personal income tax?

[Dan_77]

Quote by: GHook93 Its sick, we are the undisputed kings of taxation!

We most certainly are not. As others have pointed out our total tax burden as a % of income is on the low end.

Quote by: GHook93 With a corporate tax rate of 25%, 10% lower than Americans.

But do other countries provide the same business structures, in which the vast majority of businesses pay zero income tax? I don't know of many.

For example, in the UK, all corporations, partnerships, unincorporated associations, etc, pay corporate income tax. Even "clubs" that take in more money than they spend:

Corporation tax: the basics | Business Link

[commonsense]

Don't forget property tax!

[Zakari]

That backfired didn't it.

You pay very little tax and you know it. Tax Free Day in the US is several months earlier than any EU country.

USA Tax Free Day for 2008: April 23 - and that's overstated because most Americans get Tax Rebates.

United Kingdom: June 2nd
Norway: July 29 (2007)


Sales Tax is pitifully low - sometimes 6%.... standard VAT is 17.5% in the UK, and 18.75% in some EU countries.

Income Tax - you have far more deductibles and allowances than most nations....you may pay high Tax Rates, but on a much smaller amount than other nations.

I earn roughly 2/3 of the National Average Wage and cough up 24% of that on Income Tax and National Insurance.

Do you have Inheritance Tax? It's 40% above £300k or so here.

Also - the thresholds for paying Corporation Tax and VAT are very much lower here - you'd only be doing moderately well as a sole trader or small shop to have to employ an accountant to worm your way out of it....

[Plus Ultra]

Not the highest corporate tax as it looks like Japan is a bit higher. Individual tax rate is on the high end of the lowest third.

[commonsense]

YEAH! Those EVIL U.S. Corporations !!!

TAX them more! That'll show 'em !


Oh, and to the citizens on this board that inhabit some of the countries listed above, the chart does not take into account the exhorbitant property taxes we Americans pay to our local governments.
I would guess its at least $3500/yr national average but can easily QUADRUPLE that in many regions.

[Plus Ultra]

If I were a corporate CEO I'd relocate my HQ to either Ireland or Hungary and put my factories in Korea or Mexico.

[commonsense]

Audi cars are built in Hungary...

On closer examination, I don't know what that chart represents, exactly.
Does it include all forms of taxes?
Is British VAT in addition to the above.. an average of the various U.S. States' sales taxes?

[Dan_77]

Quote by: commonsense YEAH! Those EVIL U.S. Corporations !!! TAX them more! That'll show 'em !

Well the high rate of our "corporate" tax is misleading, since it only affects a small minority of the number of companies in the US. Most companies pay no corporate income tax at all.

Oh, and to the citizens on this board that inhabit some of the countries listed above, the chart does not take into account the exhorbitant property taxes we Americans pay to our local governments. I would guess its at least $3500/yr national average but can easily QUADRUPLE that in many regions.

Ok... and why would they not know about this? Are you suggesting that other countries do not have property tax?

[commonsense]

I'm no expert, but I know in Canada, its not nearly as high for the beautifully desirable areas I've visited

[Plus Ultra]

Most companies pay no corporate income tax at all.

Source please.

VAT is an awful and insiduous tax, its added on at each stage of the production process so that a shoe retailer pays it to his distributor, the distributor pays it to his factory supplier and at the factory its paid to the leather supplier. All along the way this gets passed on to the consumer. Additionally its a tax that doesn't get much review when raised and regularly rises (it used to be 8% in most of the EU and now is around 20%).

[Yarn]

GHook93

we are the undisputed kings of taxation!



The Big Picture | Global Taxes as a Percentage of GDP

Honestly, work on your data interpretation. The only statistics on that wikipedia article that would support your conclusion only show maximum rather than average tax rates. They don't tell the full story, and the full story directly conflicts with what they would suggest. Which is rather unsurprising given that the maximum tax rate is before any deductions are taken into account, includes the highest possible federal rate, with the highest possible state rate in the state which has the maximum rate for whatever kind of tax is being discussed. So the aforementioned rate is only possible in a small fraction of the country, and is applied only to rich people or corporations who don't have tax lawyers. Which means just about, if not, everyone pays a significantly lower rate. Furthermore, in so far as I could tell, none of the world maps in the article represent capital gains tax, and our federal capital gains tax caps at 15%, before deductions. All in all, that wikipedia article is very misleading.

[nerdvincent]

Quote by: GHook93 Corporate Tax - 15-39% Fed; 0-12% State Income Tax - 0-35 Fed; 0-10% State Sales Tax - 0-10% Payroll - 15.3% Just check the link and compare! Its sick, we are the undisputed kings of taxation! No one is even close. Funny how this country was founded on anger against taxation yet we have surpassed every other nation in the world, even very socialist countries! Absolutely amazing!

Causes:
-War
-Uneffective health care system
-War
-Uneffective social security system.
-War
-Cheezy attempt to pay the public debt Reagan's contribution created.
-Did I mention the war you're supporting?

BTW, socialism isn't necessarily about high taxes. It is the case with every " [capitalisto-]socialist" country today (Norway, Denmark...), for all they can do to ensure bits of good social security, healthcare and education without attacking capitalism is to increase taxes. It doesn't work that way for many other socialist trends...

Also, as Yarn and many others stated, your interpretation of the graphs is flawed.

[lsbskins1]

Thank you all for giving GHook the "how people lie with statistics" lesson. I hear Rush and Hannity spouting about our tax rates all the time. I hate it when people who are full of crap make people who are lazy think they are giving them facts when what they are giving them are crap statistics masquerading as facts.

[Hmm]

Frankly, I knew this thread was created by GHook before even clicking on it.