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Profile Chris SProject donor
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Message 1001580 - Posted: 7 Jun 2010, 21:24:45 UTC
Last modified: 7 Jun 2010, 21:25:26 UTC

Did they do good?

Canada way
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Profile Allie in Vancouver
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Message 1001660 - Posted: 8 Jun 2010, 4:03:19 UTC

Did I read that right? You guys pay a 17.5% VAT? Here in BC they are bringing in a HST (similar to VAT) that'll be 12% and people are on the verge of rioting. (And all it is really doing is tying together two existing sales taxes into one.)

As for the spending cuts, they are a part of the reason why Canada came through the recession in relatively good shape. The government was able to up spending during the worst of it without trading away the future with ever more massive deficits.
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Message 1001663 - Posted: 8 Jun 2010, 4:12:21 UTC - in response to Message 1001660.

Did I read that right? You guys pay a 17.5% VAT? Here in BC they are bringing in a HST (similar to VAT) that'll be 12% and people are on the verge of rioting. (And all it is really doing is tying together two existing sales taxes into one.)


Wow. I thought San Diego's 8.25% or so when I moved out were bad, but 12 or 17.5%? That's just crazy to me. I love Oregon's 0.0% sales tax.

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Message 1001828 - Posted: 8 Jun 2010, 14:28:57 UTC - in response to Message 1001663.

so is that correct VAT is sales tax? consider that Many neocons here want a 17% flat tax which is virtually the same thing and then we'd pay sales tax on purchases as well. I can only assume that you have personal income tax as well. mine runs 10-12% after deductions. which puts me right at that 17% rate. I think its kinda funny that the Brits pay a tax to watch television. Ever consider commercials? That would be untennable here in the states.
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Profile Chris SProject donor
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Message 1002230 - Posted: 9 Jun 2010, 21:08:40 UTC

Purchase Tax was the main indirect tax of its day. It had been introduced in 1940 as a tax on the wholesale values of a wide range of goods, but excluding services, food and goods subject to other excise duties. During Purchase Tax's 33-year life, there were as many as seven different rates in operation at any one time, and the structure of the regime changed frequently.


Value Added Tax was introduced in 1973 as a replacement for Purchase Tax and Selective Employment Tax, as a condition of UK entry into the European Economic Community. VAT is a tax on the value added at each stage of the production process: it is not simply a tax on expenditure. As such, it is the most financially significant indirect tax in the UK today.


It is 17.5% and widely rumoured to go up to 20% very shortly

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Message 1002274 - Posted: 9 Jun 2010, 22:41:29 UTC

That doesn't sound good. The Laffer curve peaks government income at 20% taxes. That means all taxes totaled - State, Federal and Local totaled together. I think we are already well over that in the United States but I am not sure if other countries have many different governments grabbing money like we do.
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Message 1002423 - Posted: 10 Jun 2010, 6:04:03 UTC - in response to Message 1002274.

That doesn't sound good. The Laffer curve peaks government income at 20% taxes. That means all taxes totaled - State, Federal and Local totaled together. I think we are already well over that in the United States but I am not sure if other countries have many different governments grabbing money like we do.

I am pretty sure Americans pay less tax than most other countries, but then you get less back for it. I'm grateful for a lot of the infrastructure and social programs that my taxes pay for.
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Message 1002533 - Posted: 10 Jun 2010, 14:48:01 UTC - in response to Message 1002423.

I'm always amazed to hear people in the US complain about the lousy roads when they also insist on paying lower taxes while they scuttle off to work in their Mercedes SUV that they park in their McMansion. We are really a feeble mided folk. It was understood at one time that the rich do pay more in Taxes and the benefit is that they get to still live in a relatively free society. Stop paying those taxes and we find that we get what we have right now. People so insistant that they pay to much because they cant afford their 3rd home otherwise
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Message 1002670 - Posted: 10 Jun 2010, 21:24:42 UTC - in response to Message 1002423.

That doesn't sound good. The Laffer curve peaks government income at 20% taxes. That means all taxes totaled - State, Federal and Local totaled together. I think we are already well over that in the United States but I am not sure if other countries have many different governments grabbing money like we do.

I am pretty sure Americans pay less tax than most other countries, but then you get less back for it. I'm grateful for a lot of the infrastructure and social programs that my taxes pay for.

I don't know about most Americans, I just know that around 55 to 60% of all my spending is for taxes.

Shocking!

Most Americans can't believe it. Of course being a bean counter type I make sure to count all the taxes, most people miss a lot of them. All they think of is their state and federal income taxes. Start adding all all the rest and you come up with that shocking number. Real Estate tax, gas taxes, sales taxes, the taxes you pay on your car, all those taxes on your phone and utility bills, hotel room tax on your vacation, ...

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Message 1002683 - Posted: 10 Jun 2010, 22:06:27 UTC - in response to Message 1002670.
Last modified: 10 Jun 2010, 22:06:55 UTC

... around 55 to 60% of all my spending is for taxes. ...

Is the USA going the way of Byzantium?

(Then again, is Greece still suffering the ways of Byzantium?)


Regards,
Martin
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Message 1002961 - Posted: 11 Jun 2010, 14:55:05 UTC

Then there's Estonia's Flat Tax (and other countries,too).

IIRC, Estonia started with a 20% tax and they have been reducing it yearly since.

http://www.cato-at-liberty.org/2007/04/18/estonias-flat-tax-leads-to-economic-boom/

Martin

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