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Here are the countries that love to soak the rich
Business Insider ^ | 06/02/2011 | Mamta Badkar

Posted on 06/02/2011 9:04:34 AM PDT by SeekAndFind

Tax attacks on the rich may seem extreme in the U.S., but around the world rates are far more aggressive.

A report by KPMG highlights 2010 individual income tax for countries around the world. We ranked the countries based on the income tax rate on $300,000 of gross income and included the income level at which the top marginal rate kicks off.

As a point of reference, America's top marginal rate starts at $373,650 and its percentage 27.9%. That keeps the U.S. out of the top 20.

(Excerpt) Read more at businessinsider.com ...


TOPICS: Business/Economy; Culture/Society; Government; News/Current Events
KEYWORDS: 300k; countries; income; rich; stealthewealth; tax; taxes; taxtherich; wealth

1 posted on 06/02/2011 9:04:37 AM PDT by SeekAndFind
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To: SeekAndFind
Here's another perspective.

OECD Corporate Tax Rates - Federal Plus Provincial/State, 2007 and 2008


Rank
Country

Corporate
Income Tax
Rate 2008

Corporate
Income Tax
Rate 2007

Change from
2007 to 2008

1

Japan

39.54

39.54

0.0

2

United States

39.25

39.26

0.0

3

France

34.43

34.43

0.0

4

Belgium

33.99

33.99

0.0

5

Canada

33.50

36.12

-2.6

6

Luxembourg

30.38

30.38

0.0

7

Germany

30.18

38.9

-8.7

8

Australia

30.00

30.0

0.0

9

New Zealand

30.00

33.0

-3.0

10

Spain

30.00

32.5

-2.5

11

Mexico

28.00

28.0

0.0

12

Norway

28.00

28.0

0.0

13

Sweden

28.00

28.0

0.0

14

United Kingdom

28.00

30.0

-2.0

15

Italy

27.50

33.0

-5.5

16

Korea

27.50

27.5

0.0

17

Portugal

26.50

26.5

0.0

18

Finland

26.00

26.0

0.0

19

Netherlands

25.50

25.5

0.0

20

Austria

25.00

25.0

0.0

21

Denmark

25.00

25.0

0.0

22

Greece

25.00

25.0

0.0

23

Switzerland

21.17

21.32

-0.1

24

Czech Republic

21.00

24.0

-3.0

25

Hungary

20.00

20.0

0.0

26

Turkey

20.00

20.0

0.0

27

Poland

19.00

19.0

0.0

28

Slovak Republic

19.00

19.0

0.0

29

Iceland

15.00

18.0

-3.0

30

Ireland

12.50

12.5

0.0

OECD Average

26.6

27.6

-1.0


2 posted on 06/02/2011 9:07:04 AM PDT by SeekAndFind (u)
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To: SeekAndFind

The above table is somewhat dated.

See here for instance:

http://ca.news.yahoo.com/conservatives-head-victory-canada-election-022335447.html

Canada Tories to follow tax-cut, pro-business agenda

EXCERPT :

The Conservatives have long planned to cut the corporate tax rate to 15 percent next year from 16.5 percent. Their stated goal: to help business compete in a global market.

They say other tax breaks, including a family-friendly plan that will lower tax rates for couples with children, will follow once they eliminate a record-breaking budget deficit.


3 posted on 06/02/2011 9:13:14 AM PDT by SeekAndFind (u)
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To: SeekAndFind

The article does not mention the manner of computing effective tax rates. I suspect that the effective tax rate combines taxes on different kinds of income. I also suspect that payroll taxes are ignored. Medicare payroll taxes (unlimited) should be considered in the effective tax rate. The Medicare tax rate increases to 3.9 percent for high income individuals so the top marginal rate is 38.9 percent, not 35 percent. In addition, the Medicare payroll tax will apply to unearned income for high income individuals so the marginal tax rate on unearned income has increased to 18.9 percent from 15 percent.


4 posted on 06/02/2011 9:16:21 AM PDT by businessprofessor
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To: SeekAndFind

This argument ignores the fact that most of the “rich” have no income. Their lawyers and accountants insure this.

I know several people with incomes pushing towards, or past, seven digits, and they’re laughing at all the arguments about taxes. They pay very little and are living fat.

The Middle Class pays almost all taxes. Historically, this is the way it’s always been, and probably will be since they seem incapable of recognizing reality.

Slowly boiling pot...meet frog.


5 posted on 06/02/2011 9:17:17 AM PDT by warchild9
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To: warchild9

Yes! The rich often have no official income. They are not hurt by higher taxes; it is those seeking to become rich who are hurt by higher taxes. Perhaps the elite design things this way to keep the riff-raff out of their neighborhoods. ;-)


6 posted on 06/02/2011 9:30:22 AM PDT by Pining_4_TX
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To: SeekAndFind

$300k a year ain’t rich


7 posted on 06/02/2011 9:33:11 AM PDT by Osage Orange (The MSM is an enemy of the United States of America)
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To: Pining_4_TX

“Perhaps the elite design things this way to keep the riff-raff out”

No question. Socialism is about destroying the middle class. They are perfectly happy with the ultra rich like Soros, as long as they are on their side.


8 posted on 06/02/2011 9:34:33 AM PDT by Christian Engineer Mass (25ish Cambridge MA grad student. Many conservative Christians my age out there? __ Click my name)
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To: warchild9

Well....the middle class is where the money is. Collectively speaking...............


9 posted on 06/02/2011 9:35:21 AM PDT by Osage Orange (The MSM is an enemy of the United States of America)
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To: warchild9; SeekAndFind
The Middle Class pays almost all taxes. Historically, this is the way it’s always been, and probably will be since they seem incapable of recognizing reality.

If you're talking about federal income taxes, you're wrong. For tax year 2008, the top 1% paid over 38%. The top 5% of wage earners paid over 58% of all income tax revenues. The top 10% paid over 69% of all income tax revenues. And the top 25% paid over 86% of all income tax revenues.

Keep in mind that less than 50% of the total inhabitants of all ages in the United States actually works. The middle class, or middle 50% of all wage earners (25%-75% of wage earners), pays about 15% of total federal income tax revenues
10 posted on 06/02/2011 9:35:58 AM PDT by aruanan
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To: Osage Orange

RE: $300k a year ain’t rich

I’ll do anything to be that poor :)


11 posted on 06/02/2011 9:36:44 AM PDT by SeekAndFind (u)
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To: Pining_4_TX

I thought HOA’s were designed to keep the out the riff raff.

Or gates. With guards. Like my b-i-l.


12 posted on 06/02/2011 9:37:25 AM PDT by warchild9
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To: Osage Orange

Beats the hell out of 80k


13 posted on 06/02/2011 9:40:08 AM PDT by stuartcr ("Everything happens as God wants it to...otherwise, things would be different.")
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To: SeekAndFind
I know you are kidding.....

You certainly wouldn't do anything.

But seriously....$300k a yr isn't rich. That said, I've co-workers, and friends that think $150k a yr. is rich. I guess it's all about one's perspective...

Be well...

14 posted on 06/02/2011 9:42:35 AM PDT by Osage Orange (The MSM is an enemy of the United States of America)
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To: Osage Orange
$300k a year ain’t rich

Mebbe not but I'd sure like to give it a try.

15 posted on 06/02/2011 9:45:07 AM PDT by Bloody Sam Roberts (A "Moderate Muslim"? Nothing more than a Muslim Extremist who has run out of ammo.)
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To: stuartcr

The point is...it ain’t rich.


16 posted on 06/02/2011 9:45:26 AM PDT by Osage Orange (The MSM is an enemy of the United States of America)
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To: warchild9
This argument ignores the fact that most of the “rich” have no income. Their lawyers and accountants insure this.

Oh...they have "income" alright...but - as you point out - it is hidden by their accountants and lawyers.

I know several people with incomes pushing towards, or past, seven digits, and they’re laughing at all the arguments about taxes. They pay very little and are living fat.

As do I...in fact, I have three "rich" brothers. Their occupations put them each well over "six figures"...one is just below seven figures. And each of them have the appropriate accounting/legal staff to ensure that their income is "screened" such that their actual taxes usually amount to less than is paid by a wage earner at the $47,500 annual level.

The Middle Class pays almost all taxes. Historically, this is the way it’s always been, and probably will be since they seem incapable of recognizing reality.

And don't think our wonderful federal and state politicians are not completely and totally aware of this!! Why do our reps tout higher taxes on the rich?? Because they know that they are safe from the tax man! Hell. They write the laws. It isn't the IRS that is the evil in the land; they're just armed collectors. The evil in the land is the representatives...IMHO...ALL OF THEM!!

17 posted on 06/02/2011 9:46:29 AM PDT by Logic n' Reason (The stain must be ERADICATED....NOW!!)
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To: Osage Orange

To me it is. I don’t even know anyone personally that makes that much.


18 posted on 06/02/2011 9:48:39 AM PDT by stuartcr ("Everything happens as God wants it to...otherwise, things would be different.")
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To: Bloody Sam Roberts
Ha!!

Well...maybe I'm wrong.

To someone making $30k a year...I guess $300k is "rich". To someone making $900k a yr...maybe $2mil a yr is "rich"??

This I know....I can always make more money, but I can't get anymore time.

FREGARDS,

19 posted on 06/02/2011 9:50:22 AM PDT by Osage Orange (The MSM is an enemy of the United States of America)
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To: stuartcr
I understand.

No worries, FRiend.

20 posted on 06/02/2011 9:56:13 AM PDT by Osage Orange (The MSM is an enemy of the United States of America)
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To: aflaak

ping


21 posted on 06/02/2011 10:07:31 AM PDT by aflaak
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To: aruanan

Keep in mind your comparing income to being rich, 2 different measures, think like one is earnings, the other is the estate


22 posted on 06/02/2011 10:16:42 AM PDT by Son House (Finally, People Lie, Because They Feel If They Tell The Truth, They Won't Get What They Want.)
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To: Osage Orange

Gotta agree, told the nephew $30 an hour was minimum wage, and he couldn’t grasp it(and no, I don’t earn $30 an hour, plus I am frugal, so it wouldn’t matter)


23 posted on 06/02/2011 10:20:30 AM PDT by Son House (Finally, People Lie, Because They Feel If They Tell The Truth, They Won't Get What They Want.)
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To: Son House
Keep in mind your [sic] comparing income to being rich, 2 different measures, think like one is earnings, the other is the estate

Yes, and the federal income tax on earnings is the broadest objective measure out there. Even if there are many, many, many rich people whose estates are such that they are paying little or no taxes on them, that doesn't mean that middle class is paying "most of the tax" in the U.S.. And it certainly doesn't mean that the middle class is paying most of the income tax.
24 posted on 06/02/2011 10:53:32 AM PDT by aruanan
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To: aruanan

Save your breath.

People are utterly convinced “the rich” don’t pay taxes, and irrelevant issues like facts aren’t about to change their minds.


25 posted on 06/02/2011 11:01:12 AM PDT by Sherman Logan
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To: Sherman Logan
People are utterly convinced “the rich” don’t pay taxes, and irrelevant issues like facts aren’t about to change their minds.

Just leaving them without excuse.
26 posted on 06/02/2011 12:04:39 PM PDT by aruanan
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