Highest and lowest taxed countries..

Tmall · 02-04-2010, 06:17 PM

Remember how you all think our taxes are 300 times higher than yours?

http://www.businesspundit.com/12-cou...est-tax-rates/

Turns out, it's not that different.

karl_1052 · 02-04-2010, 07:28 PM

Too bad that doesn't take into effect GST and HST.

add another 15% is you intend to purchase anything with your money.

shmike · 02-04-2010, 10:09 PM

Quote:

Originally Posted by karl_1052

Too bad that doesn't take into effect GST and HST.

add another 15% is you intend to purchase anything with your money.

Not to mention that you guys are paying a higher average rate on a lower average income.

I'm not sure how your deductions work but an average income earner in the US with a 27% marginal rate will end up with an effective rate around 12%.

goof2 · 02-04-2010, 10:33 PM

Quote:

Originally Posted by shmike

Not to mention that you guys are paying a higher average rate on a lower average income.

I'm not sure how your deductions work but an average income earner in the US with a 27% marginal rate will end up with an effective rate around 12%.

Good point about the marginal vs. effective tax rate. I hadn't caught that in the story.

101lifts2 · 02-05-2010, 12:03 AM

Quote:

Originally Posted by shmike

Not to mention that you guys are paying a higher average rate on a lower average income.

I'm not sure how your deductions work but an average income earner in the US with a 27% marginal rate will end up with an effective rate around 12%.

Yep...with my writeoffs, my effective rate was 12% this year.

LeeNetworX · 02-05-2010, 09:05 AM

Does this list consider the VAT in the UK?

goof2 · 02-05-2010, 12:02 PM

Quote:

Originally Posted by LeeNetworX

Does this list consider the VAT in the UK?

It doesn't say but it sure seems like they are only looking at income tax, and they are only looking at the rate paid on the last dollar of income and ignoring the rate paid on all income. As has already been pointed out in this thread there is a lot more that affects how much people pay in taxes than just the national income tax. Those factors add up to making this article pretty much useless.

Tmall · 02-04-2010, 07:33 PM

Shush

sherri_chickie · 02-04-2010, 11:20 PM

We may have GST or PST or even HST ( unless you live in Alberta) but I paid a HELL of a lot more sales tax and my house taxes were astronomical when I lived in Texas.. Plus I make almost double here than I did teaching there, actually when I figured it out just now, I take home double.

shmike · 02-04-2010, 11:32 PM

Quote:

Originally Posted by sherri_chickie

We may have GST or PST or even HST ( unless you live in Alberta) but I paid a HELL of a lot more sales tax and my house taxes were astronomical when I lived in Texas.. Plus I make almost double here than I did teaching there, actually when I figured it out just now, I take home double.

Texas property taxes are very high.

As far as sales tax:

You live in Alberta, the only province without a PST.

Even so, the sales tax there is 5%. It is 6.25% in Texas.

If were are paying a HELL of a lot more sales tax in Texas then something was wrong.

Most provinces have combined sales taxes between 12% & 13%. That is a HELL of a lot more than Texas, or most states for that matter.

02-04-2010, 06:17 PM	#1
Tmall Aspiring Rapper Join Date: Nov 2008 Location: Halifax, NS Moto: '12 CB1000R Posts: 3,569	Highest and lowest taxed countries.. Remember how you all think our taxes are 300 times higher than yours? http://www.businesspundit.com/12-cou...est-tax-rates/ Turns out, it's not that different.

02-04-2010, 07:28 PM	#2
karl_1052 sergeant hatred Join Date: Jul 2009 Location: Ottawa Moto: The bus Posts: 2,723	Too bad that doesn't take into effect GST and HST. add another 15% is you intend to purchase anything with your money. __________________ My wife was afraid of the dark...then she saw me naked and now she's afraid of the light.

02-05-2010, 09:05 AM	#6
LeeNetworX SFL Expatriate #1 Join Date: Nov 2008 Location: ATL Burbs Moto: '09 Triumph Speed Triple Posts: 4,712	Does this list consider the VAT in the UK?

02-04-2010, 07:33 PM	#8
Tmall Aspiring Rapper Join Date: Nov 2008 Location: Halifax, NS Moto: '12 CB1000R Posts: 3,569	Shush

02-04-2010, 11:20 PM	#9
sherri_chickie WERA Yellow Plate Join Date: Nov 2009 Location: Calgary Moto: Gs500F Posts: 683	We may have GST or PST or even HST ( unless you live in Alberta) but I paid a HELL of a lot more sales tax and my house taxes were astronomical when I lived in Texas.. Plus I make almost double here than I did teaching there, actually when I figured it out just now, I take home double.