Posted on 09/03/2006 5:18:40 AM PDT by Man50D
C'mon now.
If the Founders had had to choose between this tax system and the king's, we'd all be speaking Liverpoolish.
But, you do have a convert.
I doubt it will occur that this expansion was caused by GETTING RID OF some of this tax system. Let's get rid of it all, and replace it with something far more sane, and we'll see growth like you wouldn't believe.
His tax on the sale of tea wasn't anything close to 30%.
And my taxes combined from all sources are also not anywhere close to 30%.
It is an abomination.
Another reason to avoid the "Fair Tax" scam.
Not so.
They're over 30%.
I think at last report that I saw, Americans are paying over 53% in taxes.
Weekly World News?
Is that where it was????
This says that the highest federal income tax is about 10%. I don't know what it's reporting, but it isn't reporting the taxes that real people pay. Either that, or it's a lie.
Individual Japanese taxes are low and they have a high standard of living.
Compared with its rate in 2002, the overall effective tax rate fell by almost 1 percentage point in 2003: to 19.8 percent from 20.7 percent (see Summary Table 1 on page 4). A 1.2 percentage-point drop in the effective individual income tax rate was the largest contributor to that change, along with a 0.2 percentage-point decline in the effective social insurance tax rate. Those changes were partially offset by a 0.4 percentage-point rise in the effective corporate tax rate. The individual income tax rate fell largely because of changes to tax law.
Who Pays Taxes? CBO’s analysis of effective tax rates assumes that households bear the burden of the taxes that they pay directly (such as individual income taxes and employees’ share of payroll taxes). Excise taxes are assumed to fall on households according to their consumption of taxed goods (such as tobacco and alcohol) or, in the case of excise taxes that affect intermediate goods, in proportion to their overall consumption. Taxes on businesses are also attributed to households. CBO assumes—as do most economists— that employers’ share of payroll taxes is passed on to employees in the form of lower wages than would otherwise be paid. Therefore, the amount of those taxes is included in employees’ income and the taxes counted as part of employees’ tax burden. Far less consensus exists about how to attribute corporate income taxes. CBO assumes that corporate income taxes are borne by owners of capital in proportion to their income from interest, dividends, rents, and capital gains. (The shares of various tax liabilities borne by different income groups in 2002 and 2003 are shown in Summary Table 2 on page 5.)
For more details, see: Historical Effective Federal Tax Rates: 1979 to 2003 (CBO)
The chart is percent of GDP.
Far more than 10%.
Top rate is 35%...just on fed income tax.
that is a marginal rate, and it is also not an average for the entire country. I am very familiar with the 35% marginal income tax rate.
Japanese income tax
up to about $30,000 10% income tax
about $30,000 to about $85,000 20% income tax
about $85,000 to about $170,000 30% income tax
over about $170,000 37% income tax
Social Security is paid mainly be employer and is pretty steep as well. Hardly a low tax business climate.
tax freedom day for the average american is about the end of April.
April is in the last six months of the year on your calendar?
On the spending side of the equation, where our real problems lie, the FairTax does nothing to fix the entitlement bloat, except to remove the link between working and collecting. Once the FairTax is collected on purchases and not income, then everyone will be equally entitled to be a recipient of Soc Sec and Medicare.
The FairTax is all bluster and smoke and mirrors, it doesn't do what you think it will do.
And the final kicker is that the exclusive FairTax rate will have to be closer to 50% rather than the 30% they are touting.
These are in addition to income taxes
| Insurance | Benefit | Coverage | Premium rate (% of total annual wage) | Remarks | |
| Employer pays | Worker pays | ||||
| Workers' Accident Compensation Insurance | Benefits are paid as compensation for medical expenses, work missed, disability or death incurred as a result of work or while commuting to or from work. | All businesses that employ workers must have this insurance. | 0.45% (businesses involving mainly clerical work) | - | · Special coverage available for employers · Premium rates differ according to industry |
| Employment Insurance | Benefits are paid to unemployed workers, workers on child care leave and the elderly. | All workers whose prescribed working hours are not less than 20 hours per week must have this insurance. | 1.15% | 0.8% | Employees dispatched to Japan from overseas company head offices are exempt. |
| Health Insurance and Nursing Care Insurance | Benefits are paid for illness or injury not arising as a result of work or while commuting, and for childbirth, etc. | All full-time workers employed at incorporated companies, as well as part-time workers whose prescribed working hours were not less than 75% of full-time workers. | 4.1% (4.715% if aged 40 or over) | 4.1% (4.715% if aged 40 or over) | This premium rate applies only to Government-Run Health Insurance. |
| Employees' Pension Insurance | Benefits are paid for old age, disability and death. | 7.144% | 7.144% | A system exists under which premiums are partially returned to foreign nationals upon withdrawal from the insurance program. | |
| Child Benefits Contribution | Contribution to a social welfare system for child benefit, and differs in nature from the welfare benefits offered to workers through their employers. | 0.09% | - | ||
| Total | 12.934% (13.549% if aged 40 or over) | 12.044% (12.659% if aged 40 or over) | |||
What exactly does average mean to you?
Also, there is plenty of taxation that takes place that isn't accounted for.
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