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#1
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Income Tax rate comparison around the world
A few surprising facts. France, Germany and Belgium may as well be called communist countries. Income tax rate of roughly 50%~55%. That's beyond the limit to what can be called socialism, IMO. Russia (though not on the table) has 13% rate of income tax (found it out on wikipedia). Irony!~ Now who can say Russia is against capitalism! http://moneycentral.msn.com/content/Taxes/P148855.asp |
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#2
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Where did you get these numbers from? I had been living 38 years in France before coming to the USA and never had been taxed that much. My income tax at the time was around 35% at the time which I found already too high. The income tax in France varies based on the amount of income but only 1 or 2% of the population are in the 45% tax bracket. The problem in France is that there are many other indirect taxes. Sales taxes (VAT) for example is over 20%. However once you have paid your taxes school (which includes pre-school, school and college) as well as health is basically free. You do not have to be concerned about saving money to send the kids to college or be concerned about not being able to pay your medical bills.
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#3
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The table is ok, but barely, imo...
and it does not take into account FICA, medicare supp tax, AMT tax, state income taxes, county taxes, ad valorem taxes, sales taxes, phone and utility taxes, real estate taxes, and some I probably left out. Very hard to compare apples to apples, imo. I am not suggesting we/The US, are taxed more or less our share, than other countries but in some of those higher tax countries health care, elderly care, etc., is all covered via those higher rates. And, the idiots in Wash.DC will spend 10-20% more than all of us "send" them anyway...not even considering the TARP/Bailout Trillions. BR,mD
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Ol'UncleMotor From the Home Base of Pro Bono Punditry and 50 Cent Opins... Our Mtn Scenes, Car Pics, and Road Trip Pics on Flickr: http://www.flickr.com/photos/4527537...7627297418250/ http://www.flickr.com/photos/4527537...7627332480833/ http://www.flickr.com/photos/45275375@N00/ My X Page Last edited by motordavid; 11-09-2008 at 06:30 PM. |
#4
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11.8% for Families? We NEED to jack up those tax rates. It should be 5% less at best! I Like the UK version
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#5
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The source is given right above the attachment.
It's a comparison of taxes paid by a household earning the country's average wage. |
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#7
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True. It's not apples to apples but still gives a general idea of how they compare. For example, I heard before that France and Germany had a hefty tax burden and it shows here.
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#8
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In communist countries, there is no income tax. Income tax is a capitalist idea. In communist countries, government revenue comes from the profits earned by nationalized corporations. For example, in the United States, the Post Office is nationalized. So when the Post Office makes a profit (which it does most years), that revenue goes to the Federal Government. Now imagine if the oil industry, steel industry, telecommunications, etc. were all nationalized. That is how it is in communist countries, and that is how the government gets its revenue -- not from income tax. Here is an example: http://www.reuters.com/article/bonds...30837320080131 HAVANA, Jan 31 (Reuters) - Cubans working for foreign companies and embassies are expressing anger at a recent government decision to make them pay income tax on their hard currency bonuses. After four decades of tax-free communist rule, the prospect comes as shock. Since 1996, only artists, writers and self-employed Cubans have paid income tax. Cuba is starting to move towards capitalism by allowing foreign companies to operate there, so they started an income tax to go along with it, just like all the other capistalist countries. Another interesting sentence in your article is this: "but in most of those countries families get added social services, such as secure pensions and health care. " Add your taxes to what you (or your employer) pay for your family's health care and what you (or your employer) pay into your pension plan or 401k, and I bet your rates will be even higher than those countries.
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my experience on X5world when I spend too much time posting in political threads in the lounge... Last edited by Eric5273; 11-09-2008 at 07:51 PM. |
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#10
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I'm sorry but those differences between the single and married is not right. If we need to close this tax hole I say that we raise taxes on families to 20% at least then they are not so out of whack I also like Mexico's version. Why should married families with kids get all the breaks? I say they shouldn't! The UK, Canada, France and Mexico are all where it should be. I'm going to stop paying half my taxes....
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The Present: 2014 Audi Q5 TDI Prestige The Past: 2013 Lexus GS350 2013 VW Golf TDI 2007 BMW X5 4.8i LOADED & Loved 2009 VW Jetta 2008 VW Touareg VR6 2005 BMW X5 3.0i 2005 BMW Z4 3.0i 2004 BMW X5 3.0i 2003 BMW 325i 2000 Ford Explorer Eddie Bauer 4x4 |
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