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Politics : Formerly About Advanced Micro Devices

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To: tejek who wrote (546407)	1/27/2010 6:24:36 PM
From: TimF	Read Replies (1) of 1574854

They pay much less than the wealthy in other nations. No they don't. They pay lower marginal rates than in some other nations, but they don't pay a higher portion of government revenue than in most other countries. Our tax structure is more "progressive" than most of Europe (who after all relies on a VAT for a lot of their revenue), and with the cuts in other countries, and the post-Reagan increases in the US, even the marginal rates are no longer outliers to the high end. The top marginal individual income tax rate in the US 35%. Rates in other relatively wealthy countries. Switzerland 13.2% Lithuania 21% Estonia 21% New Zealand 38% Portugal 40% Luxembourg 38.95% Hong Kong 15% Canada 29% Iceland 36.72% Italy 43% Ireland 41% UK 40% France 40% Malta 35% European rates from here en.wikipedia.org Canada, and Switzerland have higher province/canton taxes than American state income taxes tend to be, maybe a couple of others as well, but others don't have something like state income tax (which in the US can be over 10%). Most of the countries listed above have bigger governments (as a portion of their economy) because they have these income taxes and most of them have a VAT which is regressive.

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