This is why the country is bankrupt LOL
06-02-2011, 02:24 PM
#131
Registered User
Join Date: Feb 2006
Location: Irvine, CA
Posts: 12,037
Likes: 0
Received 0 Likes
on
0 Posts
06-02-2011, 02:43 PM
#132
Registered User
Join Date: Jul 2009
Posts: 2,124
Likes: 0
Received 0 Likes
on
0 Posts
Originally Posted by herrjr' timestamp='1307051111' post='20643546
[quote name='mrjulius' timestamp='1307050563' post='20643510']
More from that report:
The United States pays 24 percent of its gross domestic product (the sum of all goods and services produced in a year) to taxes collected by all levels of government.
That's a bargain compared with most developed nations.
Australians pay 27 percent; the Japanese 28 percent; Canadians 31 percent; British 34 percent; Germans 37 percent; French 42 percent; and Swedes 46 percent. Danes lead the world at 48 percent.
Economic experts agree America holds a tremendous international advantage because it has the world's largest national economy and one of the most modest tax burdens.
More from that report:
The United States pays 24 percent of its gross domestic product (the sum of all goods and services produced in a year) to taxes collected by all levels of government.
That's a bargain compared with most developed nations.
Australians pay 27 percent; the Japanese 28 percent; Canadians 31 percent; British 34 percent; Germans 37 percent; French 42 percent; and Swedes 46 percent. Danes lead the world at 48 percent.
Economic experts agree America holds a tremendous international advantage because it has the world's largest national economy and one of the most modest tax burdens.
That's if you're on the low end. On the progressive scale, those at the highest spot pay 59%, and the Obama Administration would like to increase that to 62%. And don't forget the estate tax either.
Maybe I'm misinformed but I thought it was 35%?
[/quote]
In CA, it's around 10% income tax at the highest rate. Plus 35% income for federal. Plus the payroll amount of 3.2% Plus CA sales tax about 10% Add that up, and you have around 59%.
Obama wants to make it 38% for the federal amount, for anyone over 200k as an individual, or 250k as a family, so 3% more resulting in 62%.
Thread
Thread Starter
Forum
Replies
Last Post
Picturepro
California - Southern California S2000 Owners
38
05-28-2010 08:43 PM
Nicotunes
California - Southern California S2000 Owners
3
12-02-2009 03:09 PM