Trump Lies.

[bbfreeburn]

Not a startling revelation, I know.
I wanted to point out one of his greatest and most recent lies. America is the highest taxed country in the world.

While comparing tax rates isn't easy, by almost any standard we are one of the lowest taxed countries.
The average for developed countries is 34% of GDP. We pay 26%. Only three countries (S.Korea, Chile, and Mexico) pay less. Looking at all countries, according to data collected by conservative think tank The Heritage Foundation and mapped by BrixCreative, America has the 63rd highest taxes as percentage of gross domestic product in a list of 179 nations and territories surveyed.

Something else to consider, the VAT. We don't have one while most other developed countries have such a thing or its equivalent.

However you look at it we are NOT terribly highly taxed in comparison with the rest of the world. And, imo, we get pretty good value for the taxes we do pay.

 

[Djarum300]

What are we talking about? Federally? Locally? Both?

We have high capital gains tax and progressively high income tax. Both can be avoided through loopholes. Dividend and interest taxes are taxed lower to promote investment, just ask Warren Buffett.

I know Trump wanted to lower capital gains tax stuff and bring back off shored money. If our taxes were truly that low, we wouldn't have off shored money like we do.

Just looking at the rough numbers, I'm taxed about 32 percent. This includes sales, property, state income, federal, ssi, Medicaid and Medicare.

This doesn't include hidden taxes such as fuel tax.

 

[radioactive]

I Think Trump was talking about Corp. Taxes. Those are high, and are leading to Businesses moving to other countries.

 

[9andaWiggle]

I Think Trump was talking about Corp. Taxes. Those are high, and are leading to Businesses moving to other countries.

This. No politician gives two shits about any of us working class peons. If you're not contributing big bucks to the re-election war chest...

 

[REVerse °]

Not a startling revelation, I know.
I wanted to point out one of his greatest and most recent lies. America is the highest taxed country in the world.

While comparing tax rates isn't easy, by almost any standard we are one of the lowest taxed countries.
The average for developed countries is 34% of GDP. We pay 26%. Only three countries (S.Korea, Chile, and Mexico) pay less. Looking at all countries, according to data collected by conservative think tank The Heritage Foundation and mapped by BrixCreative, America has the 63rd highest taxes as percentage of gross domestic product in a list of 179 nations and territories surveyed.

Something else to consider, the VAT. We don't have one while most other developed countries have such a thing or its equivalent.

However you look at it we are NOT terribly highly taxed in comparison with the rest of the world. And, imo, we get pretty good value for the taxes we do pay.

bb you can volunteer to pay more taxes if you like.

And, yes, T was referring to corporate taxes.

 

[Greg T.]

Bobby has been reading HufPo again.

 

[REVerse °]

Bobby has been reading HufPo again.

 

[bbfreeburn]

Here's a couple of numbers for you.
"Statistics can always be deceiving; a different report looked at the effective tax rates including income and social taxes of people making $100,000 and $300,000 a year.

Comparing 114 countries (leaving out most undeveloped nations), the United States had the fifty-fifth highest tax rate for $100,000/year and the fifty-third highest tax rate for $300,000/year."

Bobby has been reading HufPo again.

Actually, no. I have never read that rag. Instead I was doing something rare for this board...I was thinking and doing a bit of research.

 

[Djarum300]

Federally? Probably so. Total? I doubt it.

People keep comparing our large nation to other nations that are significantly smaller....than many states.

 

[WAMO]

I THINK DJ IS RIGHT ON THIS POINT. COMPARING COUNTRIES THAT HAVE A POPULATION OF 1M, ISNT A FAIR COMPARISON TO A COUNTRY THAT HAS MORE THAN A MILLION MILLIONAIRS.

 

[bbfreeburn]

One of the comparisons I cited was among developed countries. I have not actually looked, but I would bet that most, if not all, of them are well over 1 million. With beaucoup millionaires.

 

[Djarum300]

One of the comparisons I cited was among developed countries. I have not actually looked, but I would bet that most, if not all, of them are well over 1 million. With beaucoup millionaires.

Geographicaly was what I was referring to, not population. I knew a guy working for us who was Canadian. He said he almost paid 40 percent in taxes, but that includes healthcare. I'd bet I'm close to that if I include what I and my employer pays for my insurance.