steveox
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http://www.thenewstrack.com/top-ten-highest-tax-paying-countries-of-the-world-2014/
I find it hard to believe America didn't make this list?
I find it hard to believe America didn't make this list?
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Top Ten Highest Tax Paying Countries Of The World 2014.
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GBFan
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How much tax do we really pay?
ItemRateNotes
Federal personal income tax 17%
(2011 est. - 18.2%) Top 39.6% rate. Source
State & local income taxes 10.1%
(2010 - 9.9%) State taxes range from under 6% to over 12%. Local taxes run from zero to 2.75%. Source, source, source, 2009 source
Sales tax 9.7%
(2009 - 10.3%) Figure is the average rate. State sales taxes range up to 8% and local taxes run from zero to over 5%. In 2010, state and local collections averaged $925 per capita.Source, source, 2008 source (broken link as of 2012), 2009 source 2011 source
Social security & Medicare 7.65% Total rate is actually 15.3% since half is paid by the employer, but we're ignoring that to be kind and to avoid being accused of being too political.
Federal and state corporate income tax share 2.5% Based on corporate taxes being approximately 1/6 of personal taxes, and that they are paid by individuals in the final analysis.
Property tax 2.5%
(2011 - 2.8%) Yearly average actual costs range from under $200 in Alaska to almost $1900 in New Jersey. State and local property taxes in fiscal 2010 averaged $1424 per capita, with a low of $539 in Alabama to $2819 in New Jersey) per the Tax Foundation. Source
Fuel/gasoline tax .5%
(2009 est. - .6%) Approximately 23% of the 2005 gasoline price is for federal & state taxes. The federal excise tax is 18.4 cents per gallon. Per the CPI, about 6% of the average budget is for transportation. Estimated. 2010 estimate, $.45 per gallon average. As of January 1, 2013, the lowest rate was 8 cents per gallon in Alaska and the highest was 50.6 cents in New York per the Tax Foundation.Source
Other 6%+
(2009-2013 - 8%+) Includes estate tax, fees, licenses, real inflation losses, inheritance, deficit allowance, gift, and others noted below. Estimated.
Here is what happened on January 1st 2014:
Top Income Tax bracket went from 35% to 39.6%
Top Income Payroll Tax went from 37.4% to 52.2%
Capital Gains Tax went from 15% to 28%
Dividend Tax went from 15% to 39.6%
Total tax percentage potentially paid by the well above average US citizen, 2005 - 53.2% *
Total tax percentage potentially paid by the well above average US citizen, 2013 est. - 58.5% *
* The total average tax paid is closer to 43%, since the figures above do not distinguish between taxes on gross and net income, nor do they adjust for tax planning and many other factors. Note also that the Tax Foundation's numbers are closer to 30% for the actual "average" US citizen, although items like inflation, employer's share of Social Security and Medicare, and various fee estimates are not included to the best of our knowledge.
ItemRateNotes
Federal personal income tax 17%
(2011 est. - 18.2%) Top 39.6% rate. Source
State & local income taxes 10.1%
(2010 - 9.9%) State taxes range from under 6% to over 12%. Local taxes run from zero to 2.75%. Source, source, source, 2009 source
Sales tax 9.7%
(2009 - 10.3%) Figure is the average rate. State sales taxes range up to 8% and local taxes run from zero to over 5%. In 2010, state and local collections averaged $925 per capita.Source, source, 2008 source (broken link as of 2012), 2009 source 2011 source
Social security & Medicare 7.65% Total rate is actually 15.3% since half is paid by the employer, but we're ignoring that to be kind and to avoid being accused of being too political.
Federal and state corporate income tax share 2.5% Based on corporate taxes being approximately 1/6 of personal taxes, and that they are paid by individuals in the final analysis.
Property tax 2.5%
(2011 - 2.8%) Yearly average actual costs range from under $200 in Alaska to almost $1900 in New Jersey. State and local property taxes in fiscal 2010 averaged $1424 per capita, with a low of $539 in Alabama to $2819 in New Jersey) per the Tax Foundation. Source
Fuel/gasoline tax .5%
(2009 est. - .6%) Approximately 23% of the 2005 gasoline price is for federal & state taxes. The federal excise tax is 18.4 cents per gallon. Per the CPI, about 6% of the average budget is for transportation. Estimated. 2010 estimate, $.45 per gallon average. As of January 1, 2013, the lowest rate was 8 cents per gallon in Alaska and the highest was 50.6 cents in New York per the Tax Foundation.Source
Other 6%+
(2009-2013 - 8%+) Includes estate tax, fees, licenses, real inflation losses, inheritance, deficit allowance, gift, and others noted below. Estimated.
Here is what happened on January 1st 2014:
Top Income Tax bracket went from 35% to 39.6%
Top Income Payroll Tax went from 37.4% to 52.2%
Capital Gains Tax went from 15% to 28%
Dividend Tax went from 15% to 39.6%
Total tax percentage potentially paid by the well above average US citizen, 2005 - 53.2% *
Total tax percentage potentially paid by the well above average US citizen, 2013 est. - 58.5% *
* The total average tax paid is closer to 43%, since the figures above do not distinguish between taxes on gross and net income, nor do they adjust for tax planning and many other factors. Note also that the Tax Foundation's numbers are closer to 30% for the actual "average" US citizen, although items like inflation, employer's share of Social Security and Medicare, and various fee estimates are not included to the best of our knowledge.
GBFan
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However, when you consider that 50% of our taxpayers pay NO tax ... you can see that the ACTUAL tax rate paid by those getting raped .... errr ... getting screwed ..... err ... those who have the opportunity to support our government is much higher.
A very limited measure of taxation.
pocketfullofshells
Well-Known Member
Somalia has a low rate go move their and enjoy.
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Maelalove
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Despite the comments about people not paying taxes(taking hits on immigrants, again), we pay a lot less in tax due to how our government is run. Things like healthcare, in other countries, is worked into the taxes, so their taxes are much higher, but their healthcare is "free." Ours, however, does not follow the same policies, and it's going to look lower because of those exclusions.
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