UK Tax Rates 50%....USA Next ?
- Thread starter libertad
- Start date
Don't forget sales taxes, property taxes, utilities taxes, tolls, FCC fees, the death tax (a whopper - they kick you in the balls after you die and have already paid tax on the money they are about to tax again at 45% or more), license tag fees, registrations fees, etc. etc.
You're lucky if you get to keep 10 cents in the end on each dollar you had the privilege of earning so that government can take 90% of it.
You're lucky if you get to keep 10 cents in the end on each dollar you had the privilege of earning so that government can take 90% of it.
Luckily you can choose where to live in the world, and most of your life situation is down to your own choices. There are billionaires in African and homeless bums in Manhattan.
For smart people, a slumping economy is great - cheaper assets, cheaper consumer goods, cheaper labour. No more dumb overpaid yuppies competing.
People get past 50% tax in Belgium by doing business under the table.
http://www.portfolio.com/business-news/portfolio/2009/03/16/Worlds-Biggest-Diamond-Heist
Page 8
The murky nature of the diamond trade makes it difficult to get clear answers. For instance, detective De Bruycker says that three-quarters of the business is done under the table. According to Denice Oliver, the adjuster who investigated the robbery for insurers, there were roughly $25 million in claims, all documented by legitimate invoices. As a result, De Bruycker calculated that at least another $75 million in goods was stolen, bringing the total value of the heist to about $100 million.
http://www.portfolio.com/business-news/portfolio/2009/03/16/Worlds-Biggest-Diamond-Heist
Page 8
The murky nature of the diamond trade makes it difficult to get clear answers. For instance, detective De Bruycker says that three-quarters of the business is done under the table. According to Denice Oliver, the adjuster who investigated the robbery for insurers, there were roughly $25 million in claims, all documented by legitimate invoices. As a result, De Bruycker calculated that at least another $75 million in goods was stolen, bringing the total value of the heist to about $100 million.
Tax brackets in Canada (Ontario):
$0 - $8,929 0% Tax
$8,930 - $11,826 15.50%
$11,827 - $15,098 27.60%
$15,099 - $35,488 21.55%
$35,489 - $37,178 24.65%
$37,179 - $62,487 31.15%
$62,488 - $70,976 32.98%
$70,977 - $73,622 35.39%
$73,623 - $74,357 39.41%
$74,358 - $120,887 43.41%
$120,888 + 46.41%
$0 - $8,929 0% Tax
$8,930 - $11,826 15.50%
$11,827 - $15,098 27.60%
$15,099 - $35,488 21.55%
$35,489 - $37,178 24.65%
$37,179 - $62,487 31.15%
$62,488 - $70,976 32.98%
$70,977 - $73,622 35.39%
$73,623 - $74,357 39.41%
$74,358 - $120,887 43.41%
$120,888 + 46.41%
Here is the best part of the new UK 50% income tax rate - it will raise almost no new revenue.
From the New York Times: "By government calculations, the 50 percent rate, for all those who earn more than £150,000 a year, about $216,750, will raise about $2.6 billion in additional revenues, a relatively small amount compared with the size of the deficits."
From the New York Times: "By government calculations, the 50 percent rate, for all those who earn more than £150,000 a year, about $216,750, will raise about $2.6 billion in additional revenues, a relatively small amount compared with the size of the deficits."