Posted on 03/09/2005 2:37:08 PM PST by lizol
Hmmmmm, the Russians have done it, Europe may do it, what will it take for our Congress to get the hint?
Usually what you see in such cases is a “race toward the middle” (for example that’s what happened to wage rates in the US post WWII): low cost- low tax areas gradually raise taxes as citizens demand more services (education and health care are the big expenses), while higher-cost higher tax areas are deterred from raising taxes further, or even reduce them somewhat, Over time, living standards and tax burdened converge. This effect should be even more pronounced in Europe than the US
Okay, they proved the theory works. Many thanks to them for doing it. Let's do it.
There is something wrong with this European tax rates table. Most of it looks fine but there is no way how Denmark's top rate could be between 20% and 29%. Denmark is one of highest tax countries in Europe.
Flat tax - Now we're cooking with gas!
It's a damn sight better than the half-baked (un)FAIR tax proposal that's been floated (now matter how thin you slice it - it's still a VAT).
they are a neutral country that sold weapons to Hitler and stalin to support their compassion. they need a high tax to pay old bills to the people that built those weapons, but now because they no longer build anything anyone wants to buy they are running out of steam and sinking below our lowest state. /EU rant off
bump
I can just hear the screaming banshies of the left right now. It's like fingernails on chalkboards, very disturbing. It isn't going to happen here, not until the rats are totally beaten into submission, and the republicans don't have the stones to do it.
The big hit is the local taxes you must pay to your county in Denmark. This tax rate ranges from 28.5% to 35.6%. So basically you are taxed over 50% from just the federal and local taxes. Then it goes down from there if you own or buy anything.
Sure, the Eastern European countries have low income tax rates which as such is a great thing. What disturbs many Western Europeans, most of all Germans, are the hundreds of billions Euros in EU aid flowing into these same countries while they engage in tax competition with countries who lavishly support them.
These are probably the top national income tax rates. At least in Scandinavia, the regional and municipal income tax rates are substancial.
The very WORST idea for "reform" that I've heard recently involves imposing a national sales tax AND keeping the progressive income tax and the IRS.
I say go with a flat tax or the sales tax, and put those ghouls at the IRS out on the street. (Hopefully nobody in their right mind would hire them, and they suffer as badly as their victims have. I know I wouldn't hire them.)
"Hmmmmm, the Russians have done it, Europe may do it, what will it take for our Congress to get the hint?"
I'm sure the brave patriots in our congress would be happy to institute a 50% flat tax.
But before you emigrate, please note thta this is the national tax rate. You also pay a local tax, of between 28% and 35%, a social security tax (sorry, "labor market contribution") of 8%, and a value added tax at a flat 25%.
Bottom line: on minimum wage, you lose 55% of your paycheck. On a living wage - don't ask.
I heard that they have in Denmark (or Sweden ?) 100% tax on new cars.
Man Alive! that is bad.
Old Europe does'nt have the slightest chance of competing with new Europe right now. I am going to be interested to see how they deal with it in the coming years.
Obviously they want to continue their dream of a united Europe. Which if it lowers trade barriers, movement barriers, investment barriers etc.. it will create the competition that is so needed to advance.
However obviously competing is going to mean lowering their taxes, and reducing their special interest inspired regulations.
France and Germany's 'solution' so far seems to be to try and force new Europe to raise taxes, and add regulations. I don't think that is likely to happen though, so it creates quite a dilemna for the Euro-crats.
Ya know, that would be funny if it weren't so true.
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