How Wealthy Countries Tax Their Citizens [INFOGRAPHIC

[kelvin070]

US taxes are not among the highest. So why the hoo hah?



Source: How Wealthy Countries TAX Their Citizens |

 

[Accountable]

Not real generous with their sources, are they?
I understand what they tax when they hit my personal incomes, but do they tax when they hit my social security?

 

[nova]

I actually kept track of all the taxes I paid last year. All the taxes I paid amounted to right at 50% of my income.

Since my wife has worked a full year this year, I fully expect that to be above 50% this year. In other words, we worked over half our year to support the gov't.

Tell me again how thats "not so much."

 

[Tim]

I actually kept track of all the taxes I paid last year. All the taxes I paid amounted to right at 50% of my income.

Since my wife has worked a full year this year, I fully expect that to be above 50% this year. In other words, we worked over half our year to support the gov't.

Tell me again how thats "not so much."

If you paid 50% of your income in taxes, then you aren't making enough. You need to pull yourself up by your boot straps and make more money so you can get into that magical tax bracket where you would pay much less in taxes.

 

[nova]

If you paid 50% of your income in taxes, then you aren't making enough. You need to pull yourself up by your boot straps and make more money so you can get into that magical tax bracket where you would pay much less in taxes.

heh, not hardly. we make what I consider good money between the two of us. We are an engineer and doctor (albeit in residency) combination after all....

Between federal and state income tax, SS, medicare, property taxes, vehicle taxes, phone taxes, sales taxes, utilities taxes, gas taxes. There's precious little that doesn't have a tax associated with it somewhere in the mix.

If thats whats going on with us, how many people at the lower end of the income spectrum are pushed from being solvent to insolvent?

 

[Accountable]

US taxes are not among the highest. So why the hoo hah?

Source: How Wealthy Countries TAX Their Citizens |

I'd missed the question because of the huge graphic.

All the hoo hah is that we don't want to go the way of the other countries and we can see the trends going that way. We want to stop the momentum before it's too late.

Everybody wants the services that rich people pay for, and the politicians are more than happy to make a show of providing those services. The problem is that rich people contract for those services. Service providers compete with each other to provide the best service at the lowest price. If a provider's services are not satisfactory, the rich people will cancel their contracts and look elsewhere.

Rich people retain their liberty by retaining their freedom of choice.

When the gov't pretends to be such a service provider, the contract is permanent, non-negotiable, and non-competitive. If the services are not wanted, too bad, you're getting it like it or not, and here's your bill. Forget suing for false advertising or non-delivery. Forget going to a competitor for a better deal. You get what the gov't decides you'll get.

When the gov't takes over a service, citizens lose the liberty of choice.

That's important to most Americans.

 

[kelvin070]

I'd missed the question because of the huge graphic.

All the hoo hah is that we don't want to go the way of the other countries and we can see the trends going that way. We want to stop the momentum before it's too late.

Everybody wants the services that rich people pay for, and the politicians are more than happy to make a show of providing those services. The problem is that rich people contract for those services. Service providers compete with each other to provide the best service at the lowest price. If a provider's services are not satisfactory, the rich people will cancel their contracts and look elsewhere.

Rich people retain their liberty by retaining their freedom of choice.

When the gov't pretends to be such a service provider, the contract is permanent, non-negotiable, and non-competitive. If the services are not wanted, too bad, you're getting it like it or not, and here's your bill. Forget suing for false advertising or non-delivery. Forget going to a competitor for a better deal. You get what the gov't decides you'll get.

When the gov't takes over a service, citizens lose the liberty of choice.

That's important to most Americans.

Well, I thought political parties matter as far as taxes are concerned. Tax burdens are higher when Democrats control the state legislature compared to when Republicans is in control. However, the bottom line is distrubution of wealth.

 

[Accountable]

Well, I thought political parties matter as far as taxes are concerned. Tax burdens are higher when Democrats control the state legislature compared to when Republicans is in control. However, the bottom line is distrubution of wealth.

Don't buy into the hype. Both parties raise taxes and both will lower taxes if it serves their purposes. And redistribution of wealth is only a tactic to gain the bottom line, which is maximum political power.