Are Amercans Overtaxed ?

[Anonymous]

Are Americans Overtaxed?

A big issue in the campaign is whether the top marginal income tax rate is too low or too high. Currently it is 35%. Is that high? Depends on what you compare it to. Compared to Cayman Islands (where Romney has much of his funds tucked away), where it is 0%, 35% is pretty high. Compared to Sweden, where it is 58%, it is not so high. Fortunately, there is a lot of comparative data out there. Top marginal tax rates for many countries are available at taxrates.cc.- http://www.taxrates.cc/ ... Suppose we take all the countries in North America, Central America, South America, and Europe for which data is available, and add to the list the major countries in Asia, Africa, and the Pacific to come up with a list of 100 countries and sort it by the top marginal tax rate. Here is what we get.

In this list, the United States is in the second quartile, below virtual every other rich country, but with a higher rate than most poor countries.

 

[TexasBred]

Does this sound familar?? Maybe our leaders will see the light as well.

Sweden has long been a small homogeneous country with a high degree of economic equality. Strong norms related to work and responsibility made it possible to enact an effective welfare system early on. With time, however, welfare dependence has reduced the very norms that formed the foundation of Swedish welfare, and wasteful spending has increased.

Many important social outcomes that the welfare state aims to address, and that Sweden is famous for, such as a low crime rate, have increased in recent decades, concurrent with the expansion of the welfare state. Even income inequality has increased in Sweden compared to, for example, the 1980s, despite similar or higher public expenditure.
Swedish decision makers are doing their best to reduce public spending and lower taxes. The reforms have been highly successful so far. As taxes have decreased from 57 percent of GDP in 1989 to 47 percent of GDP in 2009, the incentives to work have improved, with Swedish growth rates benefiting. The convergence of lower taxes and lower public spending is likely to continue. After all, experience has made it quite apparent for many Swedes that extraordinary high taxes are not the key to qualitative welfare services and a well functioning society.Nima Sanandaji is president of think tank Captus and a fellow at the Swedish Taxpayers Association. Robert Gidehag is president of the Swedish Taxpayers Association.

 

[hopalong]

Just hang in there oldtimer, Obaba still has time to raise more taxes not counting the healthcare tax :wink:

 

[Big Muddy rancher]

I'd question that chart for accuracy. :? Is that just the federal tax rate or all taxes paid ie sales tax ect?

 

[hopalong]

Anything oldtimer posts needs to be questioned for accuracy, knowing his penchant for telling and posting false information,
:roll: :roll:

 

[Larrry]

One sign that you are delegating yourself to inferiority is when you look at the way others do things and say "see it's not so bad look at what x pays"

We are the leaders and should portray ourselves as such. Let others look to us as a model and don't apologize for ourselves.

 

[hypocritexposer]

I'd question that chart for accuracy. :? Is that just the federal tax rate or all taxes paid ie sales tax ect?

I had this argument with some on Huffington post awhile ago.

It does not include Provincial/State taxes or any other, just Fed. income tax.


This part is a dead give away to the bias:

Compared to Cayman Islands (where Romney has much of his funds tucked away),

Now they want to tax his wealth and not just tax the income he made in the US.

OT, Romney made most of his money in the US and has already been taxed on it. :roll:


What do you care where he has his savings account?

 

[hypocritexposer]

OT, how do the numbers you provided compare to Revenue Canada's?

http://www.cra-arc.gc.ca/tx/ndvdls/fq/txrts-eng.html


Looks like Canada has a lower top Fed. Income tax rate than the US.

 

[Steve]

OT, how do the numbers you provided compare to Revenue Canada's?

http://www.cra-arc.gc.ca/tx/ndvdls/fq/txrts-eng.html


Looks like Canada has a lower top Fed. Income tax rate than the US.

maybe the other 21% is for your "free" healthcare?

 

[smalltime]

No .Our tax is fine at 35%.I'ts the stupid way the money is used that is the problem.

 

[Tam]

No .Our tax is fine at 35%.I'ts the stupid way the money is used that is the problem.

BINGO you could give the government 100% and they would just find another stupid way to spend it. They have no intention of cutting spending it is just TAX AND SPEND TAX AND SPEND AND WHEN NEEDED BORROW AND SPEND. Someone needs to teach the politicans the MEANING OF NO

 

[Steve]

No .Our tax is fine at 35%.I'ts the stupid way the money is used that is the problem.

why is it acceptable for liberals to spend other peoples hard earned money on wasteful foolish programs and agenda?

if it was such a great idea then why didn't someone already cough up the money..

our government is like the humane society (HSUS)... if they told you what it was really for they wouldn't get a single cent from anyone...

 

[Mike]

54.4% of the income in the U.S. goes towards various taxes.

The Dems & Liberals want 100%, and have the gov't write a check back to each individual for the amount they want us to have.

The ultimate stranglehold.............. :roll: :roll:

 

[hypocritexposer]

When $1 of additional taxes costs you $2, you are losing and overtaxed.


What is the ROI on your taxes in the US? How many of you would run your operations very long, at all, if every dollar invested cost you money?