I don't know about anyone else, but if I did not have a smart attorney/cpa, I would be paying 60% of my income to one government entity or another. I pay that guy handsomely to save me money, and it works. I wouldn't trust him with my daughters, but he is worth every penny for what he does. Some of you can relate.
Compared to the 19th century, American and Europe are horrifically overtaxed. Growth rates were also far higher back then. Crime was much lower. Maybe it's coincidence but it should be looked at further, they may be a lesson for governments and electorates everywhere.
By the way, there are several Europeans countries with tax rates of below 20%. E.g. Russia has 13% income tax, Romania and Bulgaria are around 15%, Slovakia and Czech Republic have mid-teen flat taxes, Montenegro has I think a 9% flat tax. Jersey and Isle of Man have 20% income tax IIRC. Monaco has 0% income tax. Dubai also has 0% income tax. Hong Kong and Singapore are around 20%ish. Some countries in Europe also do not tax foreign-source income or capital gains. Meaning you can live there and only pay money on what you earn in the country. Your IB account in the USA - tax free. So no, America is not the lightest taxed country in the developed world.
what is the main purpose of taxes? - to keep the monetary and banking system alive by pumping up the prices of everything. especially fuel prices. all things need to be transported. without taxes on oil, the price of virtually every good and service immediately goes down 30-60%...
Tax rate comparisons are meaningless to ordinary citizens. It is difficult to compare without considering the government services provided by each venue. Don't forget to throw in the rate of inflation. Don't forget the rate of growth of government services. Don't forget to consider the rate of change of growth of government workers. Don't forget to consider whether the growth of services are useful to the populace. Don't forget to compare the government infringement on the citizens freedom. Don't forget that you are using government figures to compare. Don't forget..... Ah shit forget it;
And forget all the less visible FEES - here in California, you cannot buy a computer screen with a disposal fee - this is in addition to the sales tax. Even if you want to work as an unarmed minimum wage security guard, you have to pay the state a fee for the guard card!
Quote from Ghost of Cutten: By the way, there are several Europeans countries with tax rates of below 20%. E.g. Russia has 13% income tax, Romania and Bulgaria are around 15%, Slovakia and Czech Republic have mid-teen flat taxes, Montenegro has I think a 9% flat tax. Jersey and Isle of Man have 20% income tax IIRC. Monaco has 0% income tax. Dubai also has 0% income tax. Hong Kong and Singapore are around 20%ish. it didn't say "income tax", but "tax burden", and these country choices are either mostly eastern european, tiny tax havens, city states, etc. Some countries in Europe also do not tax foreign-source income or capital gains. Meaning you can live there and only pay money on what you earn in the country. Your IB account in the USA - tax free. i don't think that had anything to do with the topic However, the tax burdens of most countries are still ridiculous. They spend and borrow like drunken sailors.