Highest and lowest taxed countries..

[LeeNetworX]

Does this list consider the VAT in the UK?

[goof2]

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]

I looked up sales tax by state, and using complicated arithmetic it seems like we pay on average about 10-11 percent more with sales tax factored in.

[goof2]

Originally Posted by Tmall

I looked up sales tax by state, and using complicated arithmetic it seems like we pay on average about 10-11 percent more with sales tax factored in.

That doesn't tell the whole story either. Most states also have a state income tax which can vary wildly. Some cities (like New York) also have an income tax. Factor in sales taxes, property taxes, fuel taxes, alcohol and tobacco taxes, etc. and it effectively becomes incalculable.

[shmike]

Originally Posted by goof2

That doesn't tell the whole story either. Most states also have a state income tax which can vary wildly. Some cities (like New York) also have an income tax. Factor in sales taxes, property taxes, fuel taxes, alcohol and tobacco taxes, etc. and it effectively becomes incalculable.

It would be cool to see an "after-tax buying power" calculation.

Example: Worker X earns $100k per year and spends $10k per year in taxable goods and services (if applicable).

His after-tax buying power is:

NYC
Atlanta
Houston
Toronto
London
Tokyo
etc.

[pauldun170]

Originally Posted by shmike

It would be cool to see an "after-tax buying power" calculation.

Example: Worker X earns $100k per year and spends $10k per year in taxable goods and services (if applicable).

His after-tax buying power is:

NYC
Atlanta
Houston
Toronto
London
Tokyo
etc.

NYC - $465,734

Cause as the rest of the country knows, we mug people and we don't report it on our taxes.



bitches

[karl_1052]

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.

I just heard that HST will be applied to all home purchases as of July 1st.
FUCK!

Also in Toronto you pay the provincal Land Transfer Tax and Toronto now has its own Land Transfer Tax.

[goof2]

Originally Posted by karl_1052

I just heard that HST will be applied to all home purchases as of July 1st.
FUCK!

Also in Toronto you pay the provincal Land Transfer Tax and Toronto now has its own Land Transfer Tax.

Wow. I doubt it is as bad in Canada as it is here, but I would think real estate probably isn't doing so great up there either. Adding a 13% tax doesn't strike me as a way to improve it.

[karl_1052]

Originally Posted by goof2

Wow. I doubt it is as bad in Canada as it is here, but I would think real estate probably isn't doing so great up there either. Adding a 13% tax doesn't strike me as a way to improve it.

Real Estate barely even stopped growing(at least locally). My house went up $50-60K in value in 3 years.

The only provinces that are losing value are North West Territories and Prince Edward island.

http://www.crea.ca/public/news_stats/statistics.htm

[Tmall]

Originally Posted by karl_1052

Real Estate barely even stopped growing(at least locally). My house went up $50-60K in value in 3 years.

The only provinces that are losing value are North West Territories and Prince Edward island.

http://www.crea.ca/public/news_stats/statistics.htm

Mine has doubled in 5 years and it's still climbing strong.