martybegan
Diamond Member
- Apr 5, 2010
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Well, that's certainly a stepdown from your claim that the US has some of the lowest taxes in the world. Then add state and local, which few other countries have and a progressive tax structure.
It does include state and local
But these numbers might understate how low taxes have been in the U.S. Unlike most advanced economies, the U.S. don't supplement personal income taxes with a national sales tax, or value-added tax (VAT). Consumption taxes accounted for about a fifth of total U.S. revenue in 2008 (mostly at the state and local level) compared to an OECD average of 32 percent. In other words, the U.S. relies uniquely on personal tax rates to raise revenue -- and we have relatively low personal tax rates.
The other shoe is that all the other countries that the US is compared with, in terms of taxation, don't have the burden of maintaining the Largest Military in the World..which spends more than the next SEVERAL top militaries.
So lets cut the military and depend on China and Russia to assure the freedom of trade via the oceans and the airways. Great idea.