AnthonyW86 said:
Viper1 said:
AnthonyW86 said:
Time to raise those taxes, it's the only way. Taxes revenue off the U.S. is only about 25% of GDP, while most other developed countries like Germany, Great Brittain etc. are at around 40% GDP.(with the exeption of Japan). Based on the U.S. GDP of 14.7 trillion a year(yes their public debt is now 100% of their GDP) that difference of taxe revenue acounts for 2 trillion A YEAR. I know those two can't be swapped one on one that easily but it's clear it is something the government has to work on. Because a higher taxe revenue combined with the defense budget cut is really all they need to prevent the debt from increasing. |
US corporate taxes are the highest in the world to make up the difference. And do you really want to tax people in the middle of a recession? Yeah, that'll make their lives easier.
Government is struggling to pay bills.
People are struggling to pay bills.
If the government can increase my taxes to pay their bills, can I hit up Uncle Sam for some money to pay mine?
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That's not true, the taxe revenue number for the U.S. includes taxes at all levels, including corporate taxes.
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Actually that number DOESN'T include all US taxes. They only count Federal taxes. For example that VAT you are talking about (which isn't a vat.) is a State Level tax not included in the number.
So are State property taxes... and a number of other taxes states and counties use... such as Beer taxes, cigarette taxes, various other taxes.
The real number is higher.
Looks around 33%-34% or so right... now lets look at what the UK's planned income is....
About 37%.
Is tax revenue in the US REALLY too low, espeiecally considering the whole, no unisveral healthcare and other socialized benefits the UK has? Heck in 09 from the two graphs we may have overlapped the UK.
