US the highest taxed country in the world

[zeke4ahs]

According to fearless leader. This is the kind of stuff that I can't figure out if he really believes it or if he knows it's not true, but knows his base will believe it if he says it .
https://www.cnbc.com/2017/07/26/trump-claims-america-has-the-highest-taxes-in-the-world.html
How does he continually lie like this on things that are so easily proven?

 

[Ladoga]

According to fearless leader. This is the kind of stuff that I can't figure out if he really believes it or if he knows it's not true, but knows his base will believe it if he says it .
https://www.cnbc.com/2017/07/26/trump-claims-america-has-the-highest-taxes-in-the-world.html
How does he continually lie like this on things that are so easily proven?

Please list, with corresponding rates, those countries that have higher taxes than the good ole US of A.

OH, you post an article measuring taxes as a percentage of GDP. Well, that means absolutely nothing to a business person trying to make a profit or considering opening a company. It also means less than nothing to workers who have massive chunks of their pay eaten by an insatiable government which spends it faster than they can count it.

 

[RBB89]

Please list, with corresponding rates, those countries that have higher taxes than the good ole US of A.

OH, you post an article measuring taxes as a percentage of GDP. Well, that means absolutely nothing to a business person trying to make a profit or considering opening a company. It also means less than nothing to workers who have massive chunks of their pay eaten by an insatiable government which spends it faster than they can count it.

OK then how, specifically, do you measure the highest taxed country? Let me know, and I'll find the information for you.

 

[Ladoga]

OK then how, specifically, do you measure the highest taxed country? Let me know, and I'll find the information for you.

You measure each tax by the percentage of income/activity seized involuntarily against individual or corporate will by the US government under penalty of law. (Add in the states, too if you please)

Measure corporate taxes against corporate taxes. Transactional v. transactional. Individual v. individual. Federal taxes. It is the impact of each or any of those taxes as they apply to diminish growth or encourage it, for that matter, that drive the decisions of folks who create wealth and jobs by providing goods and services. Have taxes that discourage wealth creation and new jobs and that creation either doesn't happen or doesn't happen in the US. Charts of aggregate percentage of an overarching whole mean nothing to the individual enterprenor/investor's growth decisions.

 

[sglowrider]

Well... if taxes are so high how come the country has been the engine for technological innovation for the world? Does that mean that the government should tax higher to drive more innovations? Based on that logic, then European taxes are very low and thats why they have substantially less innovations that the US?

You just need to step outside the US and you know that you dont have the highest tax rates in the world -- whether for personal or corporate. Smell test.

 

[RBB89]

You measure each tax by the percentage of income/activity seized involuntarily against individual or corporate will by the US government under penalty of law. (Add in the states, too if you please)

Measure corporate taxes against corporate taxes. Transactional v. transactional. Individual v. individual. Federal taxes. It is the impact of each or any of those taxes as they apply to diminish growth or encourage it, for that matter, that drive the decisions of folks who create wealth and jobs by providing goods and services. Have taxes that discourage wealth creation and new jobs and that creation either doesn't happen or doesn't happen in the US. Charts of aggregate percentage of an overarching whole mean nothing to the individual enterprenor/investor's growth decisions.

 

[sglowrider]

Everyone is entitled to his own opinion, but not his own facts

 

[toastedbread]

You measure each tax by the percentage of income/activity seized involuntarily against individual or corporate will by the US government under penalty of law. (Add in the states, too if you please)

By that definition, anywhere corruption is prevalent, is the world leader. You know, places where they literally seize your property/business.

 

[TheOriginalHappyGoat]

Methinks Ladoga didn't bother to read OP's linked article.

 

[sglowrider]

Methinks Ladoga didn't bother to read OP's linked article.

I dont think he understands taxes, how government and the economy works. Other than that, he is fine.

 

[RBB89]

Methinks Ladoga didn't bother to read OP's linked article.

Yathinks?!

 

[Ladoga]

By that definition, anywhere corruption is prevalent, is the world leader. You know, places where they literally seize your property/business.

That's not a definition at all. Its a description of how decision makers decide on economic activity. They assess the circumstance on how it applies to them individually or to their company. The aggregate proportion of the GDP brought in by taxes may or may not make any difference to them, Its meaningless unless and until translated to apply to that particular individual or business taxpayer.

Statistics of aggregate data may be interesting, but the person making the decision wants to know what the exact impact on his particular tax situation is.

Seems those who think that the percentage of GDP confiscated by taxation as reported by an academic has value. I doubt such folks have made that decision and determined that the US as a whole economy isn't too bad even if he's getting taxed to death. Scholastic and statistical satisfaction has no direct bearing on any single tax payer. Your posted information is worthless to the individual taxpayer. That is among the reasons you lost. You don't understand that.

 

[sglowrider]

That's not a definition at all. Its a description of how decision makers decide on economic activity. They assess the circumstance on how it applies to them individually or to their company. The aggregate proportion of the GDP brought in by taxes may or may not make any difference to them, Its meaningless unless and until translated to apply to that particular individual or business taxpayer.

Statistics of aggregate data may be interesting, but the person making the decision wants to know what the exact impact on his particular tax situation is.

Seems those who think that the percentage of GDP confiscated by taxation as reported by an academic has value. I doubt such folks have made that decision and determined that the US as a whole economy isn't too bad even if he's getting taxed to death. Scholastic and statistical satisfaction has no direct bearing on any single tax payer. Your posted information is worthless to the individual taxpayer. That is among the reasons you lost. You don't understand that.

If you are running a business just thinking about taxes, you are either a tax accountant or in the wrong business/industry. I have paid taxes in numerous countries now. Singapore taxes are probably the lightest (personal and corporate tax) and the US somewhere in-between Singapore and the UK.

 

[Ladoga]

If you are running a business just thinking about taxes, you are either a tax accountant or in the wrong business/industry. I have paid taxes in numerous countries now. Singapore taxes are probably the lightest (personal and corporate tax) and the US somewhere in-between Singapore and the UK.

No one said "just thinking of taxes
". That;'s one of the considerations. But it can be THE ONE which causes you to move taxable events into non-USA jurisdictions if advantageous for your particular operation. It can also be the factor that causes you to nto make any move to grow.

What should happen is that there should be no taxation on the creation of wealth and only tax the wealth (profits) once created.

 

[UncleMark]

What should happen is that there should be no taxation on the creation of wealth and only tax the wealth (profits) once created.

WTF is that supposed to mean? Gimme an example, please. I can't wrap my simple lefty taker mind around it.

 

[Rockfish1]

That's not a definition at all. Its a description of how decision makers decide on economic activity. They assess the circumstance on how it applies to them individually or to their company. The aggregate proportion of the GDP brought in by taxes may or may not make any difference to them, Its meaningless unless and until translated to apply to that particular individual or business taxpayer.

Statistics of aggregate data may be interesting, but the person making the decision wants to know what the exact impact on his particular tax situation is.

Seems those who think that the percentage of GDP confiscated by taxation as reported by an academic has value. I doubt such folks have made that decision and determined that the US as a whole economy isn't too bad even if he's getting taxed to death. Scholastic and statistical satisfaction has no direct bearing on any single tax payer. Your posted information is worthless to the individual taxpayer. That is among the reasons you lost. You don't understand that.

 

[TheOriginalHappyGoat]

WTF is that supposed to mean? Gimme an example, please. I can't wrap my simple lefty taker mind around it.

It doesn't mean anything. It's a self-contradicting statement. Based on his posting history, it seems as though Ladoga is required to disagree with someone who criticizes Trump, because Republican, but since there is no reasonable way for anyone to disagree with the particular criticism presented in this thread, the only thing Ladoga can do is give off a stream of nonsense.

(Obviously, a different option would be to simply have the self-control to stay out of the thread, but perhaps self-control is not one of his strong points.)

(Edited for clarification)

 

[UncleMark]

It doesn't mean anything. It's a self-contradicting statement.

Thanks. I though maybe I'd had a stroke or something. I can usually see the convoluted, invalid, and unsubstantiated reasoning behind his assertions, but this one didn't even meet that standard.

 

[twenty02]

Please list, with corresponding rates, those countries that have higher taxes than the good ole US of A.

OH, you post an article measuring taxes as a percentage of GDP. Well, that means absolutely nothing to a business person trying to make a profit or considering opening a company. It also means less than nothing to workers who have massive chunks of their pay eaten by an insatiable government which spends it faster than they can count it.

Read the article, you old crank. Specific rates and examples are laid out in detail.

But we all know you don't actually read anything.

 

[sglowrider]

WTF is that supposed to mean? Gimme an example, please. I can't wrap my simple lefty taker mind around it.

Phew! I was starting to worry about my own comprehension capabilities for a sec.

 

[CO. Hoosier]

Taxes expressed as a percentage of GDP is not very relevant to the issue of tax effects on economic growth. The composition of tax revenue is the issue.

The US share of tax revenue from profits and income is 48%. The OECD average is 34%

The share of revenue from taxing property is 11% for the US and the OECD average is 6%.

Both of these taxes is a direct hit to the economic growth engine.

The difference is the US consumption tax revenue is about 17% and the OECD average is twice that.

see.

 

[RBB89]

Taxes expressed as a percentage of GDP is not very relevant to the issue of tax effects on economic growth. The composition of tax revenue is the issue.

The US share of tax revenue from profits and income is 48%. The OECD average is 34%

The share of revenue from taxing property is 11% for the US and the OECD average is 6%.

Both of these taxes is a direct hit to the economic growth engine.

The difference is the US consumption tax revenue is about 17% and the OECD average is twice that.

see.

Trump continues to simply say that the US is the highest taxed nation in the world. Which is a lie.

 

[CO. Hoosier]

Trump continues to simply say that the US is the highest taxed nation in the world. Which is a lie.

So? I'm not here to defend Trump. I'm posting to bring some sanity to the unhinged Trump critics. It's a tough job.

 

[hootch1]

Taxes expressed as a percentage of GDP is not very relevant to the issue of tax effects on economic growth. The composition of tax revenue is the issue.

The US share of tax revenue from profits and income is 48%. The OECD average is 34%

The share of revenue from taxing property is 11% for the US and the OECD average is 6%.

Both of these taxes is a direct hit to the economic growth engine.

The difference is the US consumption tax revenue is about 17% and the OECD average is twice that.

see.

Kyle Pomerleau and Kevin Adams disagree.

They found that tha average American worker had an average take home pay of $37,889.

The OECD has an average tax wedge on average income earners of 36 percent. This is about 4.3 percentage points higher than the U.S. tax wedge of 31.7 percent, which ranks as the 26th highest in the OECD.

.

Payroll taxes are another burden for OECD countries.

https://taxfoundation.org/comparison-tax-burden-labor-oecd-2016/

Updated with the reference site.

 

[Stuffshot]

View embedded media

Like this maybe?

 

[TheOriginalHappyGoat]

Taxes expressed as a percentage of GDP is not very relevant to the issue of tax effects on economic growth. The composition of tax revenue is the issue.

The US share of tax revenue from profits and income is 48%. The OECD average is 34%

The share of revenue from taxing property is 11% for the US and the OECD average is 6%.

Both of these taxes is a direct hit to the economic growth engine.

The difference is the US consumption tax revenue is about 17% and the OECD average is twice that.

see.

So we don't tax poor people enough? Is that what you're saying? Taxing profits is bad, taxing consumption is good?

How very supply-sidey of you.

 

[Lucy01]

So we dong tax poor people enough? Is that what you're saying? Taxing profits is bad, taxing consumption is good?

How very supply-sidey of you.

What tax bracket are you in Goat?

 

[UncleMark]

What tax bracket are you in Goat?

Me, I'd be grateful to be in a higher tax bracket.

 

[CO. Hoosier]

So we don't tax poor people enough? Is that what you're saying? Taxing profits is bad, taxing consumption is good?

How very supply-sidey of you.

I didn't say what is good or bad. But I would say that countries which tax consumption at a higher rate than income and profit have an advantage when they sell into the US where we tax income and profit more than consumption. The reverse works to our disadvantage.

 

[sglowrider]

Bump!



Many people also believe the US is not the highest taxed country in the world -- including me and I have paid income taxes in a number of countries. (Think Europe)

 

[iuwclurker1]

In the Ladoga Outhouse, a sinking turd raises all rats.

 

[Ladoga]

By that definition, anywhere corruption is prevalent, is the world leader. You know, places where they literally seize your property/business.

They literally seize your property (money is property) right here in the good old US of A. If you don't pay that is. So, under penalty of seizure and/or jail, you pay. Try not paying a lot or for a good while and see what the IRS can do.

 

[iuwclurker1]

Lechiena

 

[SuperHoosierFan]

That's not a definition at all. Its a description of how decision makers decide on economic activity. They assess the circumstance on how it applies to them individually or to their company. The aggregate proportion of the GDP brought in by taxes may or may not make any difference to them, Its meaningless unless and until translated to apply to that particular individual or business taxpayer.

Statistics of aggregate data may be interesting, but the person making the decision wants to know what the exact impact on his particular tax situation is.

Seems those who think that the percentage of GDP confiscated by taxation as reported by an academic has value. I doubt such folks have made that decision and determined that the US as a whole economy isn't too bad even if he's getting taxed to death. Scholastic and statistical satisfaction has no direct bearing on any single tax payer. Your posted information is worthless to the individual taxpayer. That is among the reasons you lost. You don't understand that.

“Confiscated”. “Seized”. Them there’s scary words.

What other words have Limbaugh, Beck, and Hannity told you to use?

 

[DCDAVID]

I love the word "confiscate".

I know people that use that same term and they say all taxes are horrible but...
They want a strong defense
They want to take care of the vets
They want good interstates
They bitch if the security line at the airport is long because they do not have enough people
They think we need more people guarding the border
They complain that the FBI does not trail every Muslim
They complain that their SS cost of living increase is too small
They bitch that Medicare does not cover 100% of their health care.

They do not seem to have a clue where the money comes from.....
The money does not fall from the sky.....it comes from those "confiscated" taxes.

 

[DCDAVID]

They literally seize your property (money is property) right here in the good old US of A. If you don't pay that is. So, under penalty of seizure and/or jail, you pay. Try not paying a lot or for a good while and see what the IRS can do.

Good.
They should seize if you do not pay your taxes (unless, of course, you have orange hair).

 

[SuperHoosierFan]

I love the word "confiscate".

I know people that use that same term and they say all taxes are horrible but...
They want a strong defense
They want to take care of the vets
They want good interstates
They bitch if the security line at the airport is long because they do not have enough people
They think we need more people guarding the border
They complain that the FBI does not trail every Muslim
They complain that their SS cost of living increase is too small
They bitch that Medicare does not cover 100% of their health care.

They do not seem to have a clue where the money comes from.....
The money does not fall from the sky.....it comes from those "confiscated" taxes.

When someone bitches about taxes, it’s usually a white person claiming a bunch of lazy non-white people are getting all their money.

It’s not even worth trying to talk to them. It’s like someone saying to you, in all seriousness, that the earth is flat. Is that an conversation you’re willing to get into?