Here are the countries that love to soak the rich

Business Insider ^ | 06/02/2011 | Mamta Badkar

[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.

[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

[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.

[businessprofessor]

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.

[warchild9]

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.

[Pining_4_TX]

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. ;-)

[Osage Orange]

$300k a year ain’t rich

[Christian Engineer Mass]

“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.

[Osage Orange]

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

[aruanan]

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

[SeekAndFind]

RE: $300k a year ain’t rich

I’ll do anything to be that poor :)

[warchild9]

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

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

[stuartcr]

Beats the hell out of 80k

[Osage Orange]

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...

[Bloody Sam Roberts]

$300k a year ain’t rich

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

[Osage Orange]

The point is...it ain’t rich.

[Logic n' Reason]

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!!

[stuartcr]

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

[Osage Orange]

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,

[Osage Orange]

I understand.

No worries, FRiend.