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Metalworking (rec.crafts.metalworking) Discuss various aspects of working with metal, such as machining, welding, metal joining, screwing, casting, hardening/tempering, blacksmithing/forging, spinning and hammer work, sheet metal work. |
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How to REALLY cut US taxes
Ed Huntress wrote:
"Zayonc" wrote in message ... Ed Huntress wrote: You've left out VAT. Annual average consumption per person in France is $24,600. The nominal VAT is 19.6% (33% for luxury goods; 5.5% for food). So that's close to another $5k per year for the French, on top of income tax and other taxes. Then do not forget state/sales taxes - here in California it's not funny. And then local taxes. They don't even come close to the VATs in Europe and parts of Asia. Several of those are over 20%. And there are other small taxes that one doesn't hear much about. OK, I have near to 10% of CA tax on all the income and additionally 8.25% on some of the consumption and 1% for property tax (for CA prices!). I would guess that it is close enough to 20% on consumption. |
#2
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How to REALLY cut US taxes
"Zayonc" wrote in message ... Ed Huntress wrote: "Zayonc" wrote in message ... Ed Huntress wrote: You've left out VAT. Annual average consumption per person in France is $24,600. The nominal VAT is 19.6% (33% for luxury goods; 5.5% for food). So that's close to another $5k per year for the French, on top of income tax and other taxes. Then do not forget state/sales taxes - here in California it's not funny. And then local taxes. They don't even come close to the VATs in Europe and parts of Asia. Several of those are over 20%. And there are other small taxes that one doesn't hear much about. OK, I have near to 10% of CA tax on all the income and additionally 8.25% on some of the consumption and 1% for property tax (for CA prices!). I would guess that it is close enough to 20% on consumption. It sounds like you're high. California's income tax works out to 1.4% for a family with two dependents and a $50,000 net income; 4.8% if you have a $100,000 net income. Still, California's total state taxes run higher than those for the country as a whole. For 2005, the last year for which complete figures are available, it was just over $4,000 per capita. That made California 13th in the nation in state taxes overall. Comparing taxes is very tricky business. For a fast and accurate cut of comparisons between countries, most people rely on the OECD. But there are economists who say that OECD figures understate Europe's taxes. There is some discrepancy about what constitutes a "tax." In Europe, they do a better job than our politicians do of disguising taxes as something else. For example, OECD reports that France taxes its average citizen at a rate of 12.5% in "indirect" taxes, which don't show up on some "taxation of income" reports. As I said, there aren't big differences in overall taxes among developed nations, but the US has consistently been one of the two lowest in the entire OECD list (around 25 developed countries). France, like Sweden and some other OECD countries, is still laboring under a legacy of inefficient bureaucracies. Sweden has twice as many people on the government payroll as the average OECD country; France, I think, is almost as high. Both countries are modernizing and privatizing, but it's a slow process. Meantime, their unemployment rates are 'way understated (my son just wrote a paper about this subject in regard to Sweden, and I was surprised at how far out of whack the official figures are), their public payrolls are still high, and the result is a somewhat heavier tax burden than ours. But from that point on, the argument turns to which things we actually pay for in other ways, that have to be compared to taxed, state-based services in Europe. I think the bottom line is that we pay somewhat less in the US, but that some people would feel better about it if some of our services were guaranteed and if the burden was leveled more across the population, as college education and healthcare are in France. -- Ed Huntress |
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