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Tax Rates - Do we really have one of the lowest tax rates in the world

 
Krimmy
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User ID: 1490675
United States
08/01/2011 05:27 PM
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Tax Rates - Do we really have one of the lowest tax rates in the world
So I've been watching C-SPAN all day and I don't know how many people I've heard say that we have one of the lowest tax rates in the world, and the lowest the US has had since the 1930's, but do we really?

We have:
1. Federal income tax
2. State Income tax ( all states except 9)
3. Sales tax
4. Property tax
5. Gas (7.5 cents on the gallon in Georgia, but I think it might be 10.5 because it went up 3 cents a couple of months ago)
6. Tax on Utility bills
7. Cigarettes if you're a smoker (.33 cents/pack here)
8. Tag fee could be considered a tax
9. fee for driver's license or I.D. could also be considered a tax

not to mention Social Security and FICA payments that come out of every check.

Do we really have one of the lowest tax rates in the world?

Can anyone think of any others that I might have missed?
LogicTroll

User ID: 1402574
United States
08/01/2011 05:29 PM
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Re: Tax Rates - Do we really have one of the lowest tax rates in the world
we dont have a VAT.

isnt europe's like 20%
you can consider this thread: LogicTrolled
Anonymous Coward
User ID: 1483446
United Kingdom
08/01/2011 05:31 PM
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Re: Tax Rates - Do we really have one of the lowest tax rates in the world
I dunno, maybe you should look up what the rates of gas, utility, cigarette tax etc. are for all the other countries in the world, and then come back and report to us.
Krimmy  (OP)

User ID: 1490675
United States
08/01/2011 05:47 PM
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Re: Tax Rates - Do we really have one of the lowest tax rates in the world
we dont have a VAT.

isnt europe's like 20%
 Quoting: LogicTroll


No, and it is ridiculously high, I know I've refused to buy stuff from England because the taxes almost double the price of the item sometimes.

I guess my point is new taxes aren't the answer for the debt crisis. How long is it going to be before we're working solely for the government? I'm in the 25% bracket for income taxes, another 6% for state income taxes = 31%.My property taxes are 7% of my after tax income, so now we're up to 38% of my income goes to some form of tax. Figuring out how much gas I buy per year takes it up to 41% etc, etc,.





GLP