Europe is a hot topic these days, being as Obama and many of his supporters believe that Europe is more highly evolved than America. Of course, you and I knew all along that their high tax welfare state was not sustainable. Well, we were right!!
Read all about it in the New York Times!! Just kidding, of course. I have to have SOME fun!
Subject: Current European tax rates - America next?
Check it out, think about it and let your friends know about it..........then in November do something about it............
Take a look at these current European tax rates and ask yourself, is America next? Read the text below the table and be scared.
Current European tax rates:
United Kingdom
Income Tax: 50% VAT: 17.5% TOTAL: 67.5%
Germany
Income Tax: 45% VAT: 19% TOTAL: 64%
France
Income Tax: 40% VAT: 19.6% TOTAL: 59.6%
Greece
Income Tax: 40% VAT: 25% TOTAL: 65%
Spain
Income Tax: 45% VAT: 16% TOTAL: 61%
Portugal
Income Tax: 42% VAT: 20% TOTAL: 62%
Sweden
Income Tax: 55% VAT: 25% TOTAL: 80%
Norway
Income Tax: 54.3% VAT: 25% TOTAL: 79.3%
Netherlands
Income Tax: 52% VAT: 19% TOTAL: 71%
Denmark
Income Tax: 58% VAT: 25% TOTAL: 83%
Finland
Income Tax: 53% VAT: 22% TOTAL: 75%
If you've started to wonder what the real costs of "socialism" are going to be, once the full program in these United States hits your wallet, take a look at the table. As you digest these mind-boggling figures, keep in mind that in spite of these astronomical tax rates, these countries are still not financing their social welfare programs exclusively from tax revenues!
They are deeply mired in public debt of gargantuan proportions. Greece has reached the point where its debt is so huge it is in imminent danger of defaulting. That is the reason the European economic community has intervened to bail them out. If you're following the financial news, you know Spain and Portugal are right behind Greece.
The United States is now heading right down the same path. The "VAT" tax in the table is the national sales tax that Europeans pay. Stay tuned because that is exactly what you can expect to see the administration proposing after the fall elections. The initial percentage in the United States isn't going to be anywhere near the outrageous numbers you now see in Europe.
Guess what, the current outrageous numbers in Europe didn't start out as outrageous either. They started out as miniscule-right around the 1% or 2% where they will start out in the United States. Magically however, they ran up over the years to where they are now. Expect the same thing here.
It's time to rethink the 'American Dream' idea: It is the notion that with hard work and perseverance, anybody can get ahead economically here. Do you think that can ever happen with tax rates between 60% and 80%? Think again. With the government taking that percentage of your money, your life will be exactly like life in Europe. You will never be able to buy a home. You will never buy a car. You will never send your children to college.
Let's not shuffle the battle cry of the socialists under the rug either. It's always the same cry. "Equalize" income. "Spread the wealth" to the "poor" (whoever they are). "Level" the economic playing field. Accomplish that and everything will be rosy.
It's time to take a really hard look at reality. Greece is a perfect example. Despite the "socialism" system that has ruled this country for decades, with a 65% tax rate, they are drowning in public debt, would have defaulted without hundreds of billions in bailout money, and still. . .20% of their population lives in "poverty." What has all that "socialism" money bought, besides ultimate power for the politicians running the show? Do you think these people are "free"? They're not. They are slaves to their economic "system."
People, we are at a tipping point in America. We all know it. Turn this around right now or your grandchildren will be massing in the streets of this once-great country, just as the people of Greece now are.
Economic slavery is slavery, just the same. Carefully and deeply consider what it takes to throw off the yoke of slavery, once it takes hold and settles over your neck.
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6 comments:
Of course, the listing for taxes in the US would be:
United States
Income Tax: 46%
Sales Tax: 10.75% TOTAL: 56.75%
No, you say? Well it seems that the author of that original article used an unusual way of listing tax rates. In particular, that person chose to quote the absolute highest tax rate in that jurisdiction, regardless of whether it was actually paid by everyone or not.
For example, in the UK, the 50% tax rate is on income that exceeds 150,000 pounds.
If you want to use that same methodology of quoting the highest tax rates, even if everyone doesn't actually pay that tax, then the listing for the US in that original e-mail would be:
United States
Income Tax: 46%
Sales Tax: 10.75% TOTAL: 56.75%
The income tax was calculated by combining the highest federal income tax rate of 35% and the highest state income tax rate (Hawaii's) of 11%.
Sales Tax quoted is the combined state and local sales tax rate in Pico Rivera, California, and is the highest sales tax in the US.
And, don't forget that we also pay for our health insurance, when insurance companies choose to sell it to us in addition to all that.
As “Anonymous” pointed out in an earlier posting the figures quoted in the article are somewhat distorted. As I happen to live in Europe in a country (Belgium) which has always had relatively high taxes, let me point out a few other “facts”.
Everyone here has health coverage. For my wife and I the cost is about $2340 per year for hospitalization for full coverage anywhere in the European Union for both of us. This is full coverage for doctors, hospital room, surgery, medicines, etc., in a country ranked 21st out of 190 for medical care. Most of the countries in the top 25 are in Europe. USA ranks 37. France is no. 1. http://www.photius.com/rankings/healthranks.html
For insurance for occasional visits to the doctor we pay about $280 per year for two people. A doctor’s visit costs around $30. As there is a big emphasis on preventive medicine a yearly medical costs me about $15. I have a colonoscopy every five years. The last one cost me about $18. By the way, most medical coverage in Europe is not nationalized. It’s private. The only national system I know of exists in the UK with the NHS.
Never save money to buy a car? It’s interesting that the gross savings in Belgium is one of the highest in the world. https://econ365.files.wordpress.com/2008/10/gross-savings-rate.pdf That’s quite different from the credit card living typical of many families in the USA.
Never buy a house? At 65%, the percentage of home ownership happens to be exactly the same in the USA as in Belgium. And when people here do buy a house they aren’t likely to lose it. Did you happen to notice that the subprime problem with home ownership was mainly in the USA? http://www.nationmaster.com/graph/peo_hom_own-people-home-ownership
And when I do buy that house I’m probably going to be able to keep it. My house in Belgium is worth around $700,000. I got the tax bill a few days ago for next year. The yearly taxes are $1430. That is quite different from USA where many retired people are forced to move out of their homes by rising real estate taxes. The only other property tax we pay is about $97 per year for garbage collection.
Never be able to buy a car? When were you last in Europe? The cars on the streets here make USA look like a junk yard. It’s rare to see a car more than ten years old on the streets, with a high percentage of BMWs and Mercedes around, not to speak of the Porsches.
Never send your children to college? Why not? Except for some minor fees for things like insurance, the universities are free. It’s quite a different system where university entrance depends on ability rather than ability to pay.
Yes, our taxes are higher, but you get what you pay for. We also pay a lot more tax on gasoline. That should happen in USA as well. Nothing would stimulate the development of alternative energy sources faster than gasoline at $6.00 per gallon.
Poverty? My wife and I spend a fair amount of time in USA and we are always struck by the poverty we see. Food banks? Most people here don’t even understand the concept of a food bank. So, if the changes underway will make life in the USA “exactly like life in Europe” as your article states, many people have much to look forward to.
A resident of Europe
Just rec'd a copy of the European Tax Rates, read it and want to reply to the comment of a Belgium "resident of Europe" who looks down his nose at all things American.
HISTORY. My father fought in Belgium at the Battle of the Bulge to rescue your country from the Nazis. Did Belgium/Europe pay the United States back for his effort, all the efforts of our dead citizen soldiers and the expense of doing so? Don't think so. Why couldn't you Belgians do the job yourselves? Our American economy and individualism made us strong as one nation to protect our way of life and, obviously, YOURS!!!
CURRENTLY: Greece is slipping into anarachy due to YOUR type of socialistic "let the govt take care of everything and everyone" economy: http://online.wsj.com/article Athens Descends Into Anarchy, 4/12/2011. Entitlement heavy Ireland's credit worthiness was just downgraded 2 leveles by Moody's today, just below "junk" bond status. The EU dominoes are getting ready to fall, and you still think Belgium will be unscathed?
FUTURE: Hope you have a good memory of what you feel heaven was like with an unsustainable socialistic economy because you and the EU are about to enter the hell of insolvency.
Oh yes, please do not ask the U.S.to help dig you or any other European country out of debt or fight the anarchy that will follow with our citizen soldiers or money as we have done over and over again throughout the world.
Americans have wised up and can't wait to "retire" a President who has no idea what the American dream really is and, in fact,who constantly apologizes for our history. We do not need government to do what we can do for ourselves, thank you.
We Americans have taxes due in 3 days. Only a fool would continue to believe big government at the expense of individual citizens paying high taxes and enduring rationing under socialism is the panacea to all the world's problems. Big government causes most of the world's problems and misery.
A Proud American Resident
Yes, there is always a question about how the facts are determined, who did the determining, and through which eyes they are seen, The truth is seldom as simple as it may first appear.
I'm a yankee expat living in Spain since 1973. I love it how whenever Americans quote the taxes we pay in Spain, they NEVER tell what we get in exchange. We true freedom - because everyone has a right to health care and if we lose our job or if our business goes belly up or IF WE GET CANCER or have a heart attack - WE DON'T have to sell our homes or cash in our kids college funds because we are taken care of.... We enjoy a fabulous health care system - STATE OF THE ART.. my husband just had a liver transplant for FREE including a stipend for his wife to take time off to be at his bedside. So you just go ahead and count your precious pennies and pray you don't get sick or lose your job cuz Uncle Sam aint gonna give a damn!
It has been a few years since you made this post -- and all of your predictions about our president and our country were flat wrong.
Also, you're not a slave. Ask any elderly black person in the US what slavery means and you'll be better informed for it.
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