Thread: Something To Think About.
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Old 01-28-2007, 05:05 PM
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Eric5273 Eric5273 is offline
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Quote:
Originally Posted by Kaefer
The Europeans pay 50%-60% of their income in federal and state taxes, just like us. Their rate is simply much higher. I worked and went to school in germany for a few years... trust me on this one. They pay gas taxes, sales taxes, permits, license taxes just like us -- in ADDITION to a tax rate of 50%. No, we do not pay more taxes than the Europeans. Even if you're a millionaire in the US, you're only paying about 40%
That's actually a very recent thing. Prior to Ronald Reagan being president, the top tax rate was north of 70% and had been since before World War II.
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