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Thread: We are the highest taxed nation-Donald Trump

  1. #1

    We are the highest taxed nation-Donald Trump

    Is our President stupid or deliberately trying to mislead his uneducated voters?

    This morning Trump tweeted: "We are the highest taxed nation in the world - that will change." ( He has repeatedly said this)
    Baloney. The most meaningful measure is taxes paid as a percentage of GDP. As you can see from the graph below, the U.S. has the 4th lowest taxes of any major economy. (Only South Korea, Chile, and Mexico ranking lower.)
    And the wealthiest 1 percent in the U.S. pay the lowest taxes as a percent of their income and total wealth of any country anywhere – and lower than they’ve ever paid even in the U.S.
    Once again, Trump and the Republicans are dealing with a non-problem, while ignoring the biggest problems.

  2. #2
    INGSOC GURPS's Avatar
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    which taxes are you mumbling about

    [you need a quote for your information buck wheat]


    while this agrees with most of the news outlets / internet

    https://taxfoundation.org/comparison...bor-oecd-2016/


    context is required .... because I only see 'income and payroll tax' discussed

    Income Tax - State and Federal
    Other Deductions - FICA, Medicare, Payroll Tax

    Sales Tax
    Gas Tax
    Inheritance Tax

    fees on phone bills
    fees on medical devices


    to name a few




    maybe Trumps is talking Corporate Taxes ........

    http://time.com/money/4862673/us-tax...ecd-countries/

    Trump and other Republicans are right about one aspect of U.S. taxes, however. When it comes to taxing corporate profits, the U.S. does indeed have one of the highest nominal maximum rates in the world, at 35%.

    The new study's authors looked in particular at how the U.S. tax regime stacks up against Germany's -- a nation they chose because its economy resembles that of the U.S., and because Trump has said Germany's trade surplus with the U.S gives it an upper hand economically.

    And U.S. corporations are in fact paying higher income taxes than German ones. As it happens, deductions and other tax strategies mean relatively few U.S. corporations actually get stuck paying the maximum nominal 35% rate, instead paying about 20% on average. But that is still higher than the comparable 15% effective rate that German corporations pay, according to the Chicago Fed estimates.

    The high U.S. nominal corporate tax rate could indeed be a problem for the economy, since it encourages U.S. corporations to shift their operations overseas to keep tax bills low -- something Trump and other Republicans have repeatedly called out.

    http://www.pewresearch.org/fact-tank...below-average/

    Much of the difference in relative tax burdens among different countries is due to the taxes that fund social-insurance programs, such as Social Security and Medicare in the U.S. These taxes tend to be higher in other developed nations than they are in the U.S. Take that married couple referred to above: In 21 of the 39 countries studied, they paid more in social-insurance taxes than in income taxes. The U.S. had the 11th-lowest social-insurance tax rate for such couples among the countries we examined.

    Like pretty much everything regarding taxes, there are caveats with the OECD data. The biggest, of course, is that our comparisons don’t account for what citizens receive from their governments in either direct or indirect benefits as a result of their different tax structures. We’re only looking at what citizens pay into the system – and even then, just a portion.

    For instance, the OECD data don’t include taxes paid at the state, provincial or local level (such as sales and property taxes in the U.S.), nor do they include other national taxes, such as gasoline and cigarette taxes in the U.S. or value-added taxes in dozens of other countries. And they include only the individual portion of social-insurance taxes, not anything paid by employers. (In the U.S., for instance, employers and workers both pay Social Security and Medicare taxes.)
    Last edited by GURPS; 09-07-2017 at 01:50 PM.
    Never attribute to malice that which is adequately explained by stupidity.
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  3. #3
    #*! boat! Gilligan's Avatar
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    Quote Originally Posted by Sapidus View Post
    And the wealthiest 1 percent in the U.S. pay half -HALF - of all income taxes
    Yeah..we know. Disgusting isn't it? Hopefully Trump and Congress can get that remedied; I'm tired of being raped and then seeing my money going to support losers like you.
    You can't be a real country unless you have a beer and an airline. It helps if you have some kind of a football team, or some nuclear weapons, but at the very least you need a beer. -Frank Zappa

  4. #4
    I bowl overhand itsbob's Avatar
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    You have to get down in the dumb zone for some..

    Which tax??

    Where are a lot of companies moving their headquarters to and why??

    US corporate taxes are some (if not THE) highest in the world..

    In comparison: US Corporate Income tax is 35%.. Ireland is 12.5% and their new Corporate Tech Income Tax is 6%..

    If you want to bring corporations back to the US, bring back JOBS to the US you can't have the highest corporate tax rate in the world.. you need be one of the lowest..

    If we were indeed the 4th lowest we wouldn't be fighting to keep corporations here, we'd be fighting trying to find where to put all of them want back in.

    More corporations due to lower corporate income taxes means exponentially more jobs for Americans, which means exponentially more individual income tax, gas tax, sales tax, real estate tax.. etc.. etc.. collected..

    I f I recall correctly, Microsoft paid 4.5 BILLION in corporate income taxes overseas.. if they based those particular profits in the US, they would have had to pay an additional 16 Billion in taxes..

    If you were a business owner, would you pay 20 Billion in taxes because.. well, God and Country, or would you do your job and find a way to only pay 4.5 Billion..

    As it was, due to our current laws, the US didn't get a penny of taxes off of those particular profits. As a numbers kind of guy, I think 4.5 Billion is a lot better than ZERO..

    But being a liberal, you probably believe that's a bad thing.
    Last edited by itsbob; 09-07-2017 at 02:09 PM.
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  5. #5
    INGSOC GURPS's Avatar
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    Quote Originally Posted by Sapidus View Post
    And the wealthiest 1 percent in the U.S. pay -HALF- of their income ......



    Never attribute to malice that which is adequately explained by stupidity.
    - Robert J. Hanlon.

    “There is a deeply anti-democratic undercurrent to much of the criticism of the new president, borne aloft by an assumption that democracy is too important to be left to the voters.”

    And if a statue can oppress you, then I submit that you have greater issues. - A West.

  6. #6
    Quote Originally Posted by Gilligan View Post
    Yeah..we know. Disgusting isn't it? Hopefully Trump and Congress can get that remedied; I'm tired of being raped and then seeing my money going to support losers like you.
    HAHAHAH. To imagine you are in the wealthiest 1% is laughable.

    Meanwhile Trumps "plan" ( what little has actually been discussed) would greatly benefit me I would much rather pay more in line with Scandinavian countries. I for one am much more concerned with the common good then mine on piece of the pie.

  7. #7
    Quote Originally Posted by Sapidus View Post
    HAHAHAH. To imagine you are in the wealthiest 1% is laughable.
    Of what? It's really easy to be in the Top 1% of the world:
    Quote Originally Posted by Robert Parker, CEO at Holborn Assets
    According to this measure: How close are you to the top 1%? - CNNMoney
    … you should generate $450,000 annually per household in order to get in the 1%. So, if you make $150,000 annually, and your wife generates $100,000 and your 2 children make $100,000 each, then you are in the top 1% richest persons of the world.

    However, if we consider income again, Global Rich List said in 2013 that you need only a $32,400 to each 1%, which was at that time:

    29,185 euros
    2.2 million Indian rupees, or
    211,126 Chinese yuan
    So if you’re an accountant, a registered nurse or even an elementary school teacher, congratulations. The average wage for any of these careers falls well within the top 1% worldwide.

    But, considering the wealth and not the income, the same source said you should possess $770,000 in net worth, which includes everything from the equity in your home to the value of your investments. That was about:

    693,607 euros
    52.7 million Indian rupees or
    5 million Chinese yuan

    If you want to see what it’s like to be in the 1% of each US state, you can check this link: How much richer are the Top 1%? - CNNMoney

    Heck, even YOU might be top 1% worldwide!

    Meanwhile Trumps "plan" ( what little has actually been discussed) would greatly benefit me I would much rather pay more in line with Scandinavian countries. I for one am much more concerned with the common good then mine on piece of the pie.
    You realize that if you want to do "good", you do NOT have to give the money to the government to do so, right? As a matter of fact, it is highly likely that whatever you think is "for the common good" is far more likely to efficiently use your money if you do NOT go through government.

    Just trying to expand your thought-base to reality!
    There are only two possibilities; one is that we are alone in the universe, the other is that we are not.
    Both are terrifying.

  8. #8
    #*! boat! Gilligan's Avatar
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    Quote Originally Posted by Sapidus View Post
    HAHAHAH. To imagine you are in the wealthiest 1% is laughable..
    I and many hundreds of thousands of other business owners who own other than "C" corporations (I own an "S" corp.) But you'd know nothing about that; you clearly know nothing about business or economics.

    P.S.: you just made a fool out of yourself again. A lot of folks on here know me.. think about that for a second.
    You can't be a real country unless you have a beer and an airline. It helps if you have some kind of a football team, or some nuclear weapons, but at the very least you need a beer. -Frank Zappa

  9. #9
    #*! boat! Gilligan's Avatar
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    Quote Originally Posted by Sapidus View Post
    Meanwhile Trumps "plan" ( what little has actually been discussed) would greatly benefit me I would much rather pay more in line with Scandinavian countries. .
    Filthy liar.

    Again.
    You can't be a real country unless you have a beer and an airline. It helps if you have some kind of a football team, or some nuclear weapons, but at the very least you need a beer. -Frank Zappa

  10. #10
    b*tch rocket Christy's Avatar
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    Quote Originally Posted by Sapidus View Post
    Is our President stupid or deliberately trying to mislead his uneducated voters?
    I don't have a whole lot of confidence in who you would define as "educated". The term "educated" should now by recorded as a synonym for "indoctrinated". It is shocking to me what passes as "education" these days. :sad:
    Darling, if you want to talk bollocks and discover the meaning of life, you're better off downing a bottle of whiskey. At least that way, you're unconscious by the time you start to take yourself seriously. ......Patsy Stone ABFAB Goddess


    It isn't difficult to make a mountain out of a molehill, just add a little dirt.

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