Posted on 02/18/2016 8:28:38 AM PST by SeekAndFind
Every year, the World Economic Forum releases its Global Competitiveness Report on the state of the world's economies.
The WEF looks at data on areas as varied as the quality of the teaching of math in schools to the rate of inflation in each country. It then uses the data to compile a picture of virtually every country.
One of the indicators the WEF uses is a country's tax burden, with higher scores indicating lower competitiveness.
To measure tax it uses the World Bank's total tax rate. Here's what goes into that:
The total amount of taxes is the sum of five different types of taxes and contributions payable after accounting for deductions and exemptions: profit or corporate income tax, social contributions and labor taxes paid by the employer, property taxes, turnover taxes, and other small taxes.
Basically, it's all the taxes levied on businesses but not those levied on the people who work for them. Business Insider took a look at the countries with total tax rates of more than 50%. Check them out below.
27. Japan: 51.3% -- Japan has one of the largest economies despite having a total tax rate of more than 50%. It has the fifth-highest taxes in Asia.
26. Mexico: 51.8% -- Mexico is one of several Latin American countries with a total tax rate above 50%. The basic rate of tax for corporations sits at 30%.
25. Ivory Coast: 51.9% -- One of eight African countries in our ranking, Ivory Coast charges a basic 25% corporate profits tax but bumps that to 30% for those in the telecommunication, IT, and communication sectors.
24. Austria: 52% -- One of just six countries in Europe with a tax rate of more than 50%, Austria has some interesting quirks with its tax system.
(Excerpt) Read more at businessinsider.com ...
“Don’t cry for me Argentina”.
“And the money kept rollin’ in.”
I was surprised NOT to see Bernie Sander’s favorite countries to emulate — the Scandinavians, on the list.
Save us the clicks and the advertisements. What is the US ranking? #1?
23. Ukraine: 52.9%
22. Sri Lanka: 55.6%
21. Belgium: 57.8%
20. Costa Rica: 58%
19. Spain: 58.2%
18. India: 61.7%
17. Tunisia: 62.4%
16. Benin: 63.3%
15. Gambia: 63.3%
14. Chad: 63.5%
13. China: 64.6%
12. Italy: 65.4%
11. Venezuela: 65.5%
10. Nicaragua: 65.8%
9. France: 66.6%
8. Guinea​: 68.3%
7. Brazil: 69%
6. Mauritania: 71.3%
6. Algeria: 72.7%
4. Colombia: 75.4%
3. Tajikistan: 80.9%
2. Bolivia: 83.7%
1. Argentina: 137.3% - Astonishingly, Argentina’s total tax rate is judged to be over 100% of corporate profits. The country’s turnover tax alone eats up nearly 90% before taxes on salaries and financial transactions are taken into account.
No US ranking, so is assumed to be less than Japan - Is about
35% or so,
The U.S. total corporate tax rate at 39.1 percent is the highest corporate tax rate in the developed world, which reduces investment in the U.S. and costs American workers jobs and higher wages.
http://www.heritage.org/federalbudget/corporate-tax-rate
I search in vain for Bernie Sander’s favorite countries to emulate — THE SCANDINAVIANS. NOT on this list !!
Scandinavians seem to be the only ones who can make a mixed socialist economy work well.
What a great list of countries in prosperity and freedom. When someone figures out that companies produce profits for stock holders and salaries for workers, and the government just pays itself, things may change. But I doubt it.
Tax the rich is never followed by, and there will be great prosperity for all. Normally, tax the rich means some government overlords will quietly become very wealthy.
It works when everyone is Scandinavian. But watch what happens now. They will develop a non-working class and things will change. Socialism works when everyone’s inclination is to work hard and pull their own weight.
It never works when people have different levels of personal production. Those who work less get more for doing nothing. Those who work more, see it and stop working for others, and start working only for their selves. A good example are the Russian collective farms vs. the personal gardens. Read Anna Karenina.
Also, many of these Euro-countries are not really socialist - means of production are not owned by the govt (except maybe for British North Sea oil and Norway’s oil). They tax to create a welfare state to prevent unrest. So taxes are high for that but because it is spent on people that are pretty much all related to each other it does not sting as much to pay that much.
Did you read the article? These are business taxes.
>>Basically, it’s all the taxes levied on businesses but not those levied on the people who work for them. <<
Well the favorite countries to emulate would be the former USSR where he honey-mooned ... close to his hero Jughashvilli.
“I was surprised NOT to see Bernie Sander’s favorite countries to emulate — the Scandinavians, on the list.”
My wife, and I discussed that between us as well. Quite surprising.
I was in Sweden on business in 1977. The sea Captain that was my host with the Containership line I was visiting that trip complained to me about the only thing he did not like about his country was the 85% taxes. I would have thought it would be more today, but didn’t even make the list.
Did you get the impression as I did by this article there is much more to the illegal movement from South of the Border than we are to understand by the media, and our own government?
With taxation by Socialist regimes, and dictatorships in our Southern Hemisphere such as represented (unstated) in the article it’s no wonder there aren’t the jobs, the ability to make a living for ones family.
The open Southern border, the special treatment for illegals, the collusion with those South American Dictatorships, and Socialist Governments, and so much more provide the appearance of a grand manipulation.
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