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your possible tax future

Discussion in 'Off Topic Threads' started by schutzemgud, Jul 15, 2010.

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  1. schutzemgud

    schutzemgud TS Member

    Joined:
    Jan 29, 1998
    Messages:
    228
    Hurry up November we have some house cleaning to do.

    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.
     
  2. tinylo

    tinylo TS Member

    Joined:
    Jan 29, 1998
    Messages:
    177
    iagreewithyoubutidonthavethepatiencetoreadallofthisbestwishesjoe
     
  3. Fast Oil

    Fast Oil TS Member

    Joined:
    Jan 29, 1998
    Messages:
    918
    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.
     
  4. Sportshot

    Sportshot Active Member

    Joined:
    Jan 29, 1998
    Messages:
    532
    Location:
    ... somewhere out west, in the Rockies
    an 80% tax rate is coming, huh?

    when you add State and Fica and Medicare to the 80% and you get a (negative) - which I guess would be a tax bill at the end of the year, after they have already taken all your paycheck for taxes.

    I'm thinking this is gonna happen about the time they start makin' Leo shoot caps from the hip.
     
  5. GBatch_25

    GBatch_25 Active Member

    Joined:
    Apr 1, 2008
    Messages:
    2,339
    Location:
    Illinois
    Food for thought:
    When John Kennedy was President, the top marginal income tax rate was 91%. He cut taxes - and he was a D...., Dem...., Demo...., Democrat. There! I said it. Hard to believe, eh?

    * Individual Tax Rates. Reduced individual tax rates (top rate dropped from 91% to 70%).
    * Corporate Tax Rates. Reduced top corporate tax rate from 52% to 48%.

    Gene Batchelar
    Wheaton, IL
     
  6. recurvyarcher

    recurvyarcher Well-Known Member

    Joined:
    Apr 26, 2006
    Messages:
    6,450
    Socialism should mean equality of rights and opportunity....not of income. The socialist are bound to run out of other people's money at some point.
     
  7. schutzemgud

    schutzemgud TS Member

    Joined:
    Jan 29, 1998
    Messages:
    228
    CyKick thanx for fixing the spacing. I didn't know it had all been lumped together. Its' good for folks to see what current White House appears to working towards.

    Mike
     
  8. glenns

    glenns Member

    Joined:
    Jun 14, 2009
    Messages:
    537
    Location:
    Arizona
    Income taxes are based on taxable income while VAT is similar to sales tax so you're not paying a total of 70% of your income.
     
  9. JTEA

    JTEA Member

    Joined:
    Jul 13, 2007
    Messages:
    367
    Location:
    So. East corner PA
    Several articles on taxes and our economy:

    President Obama says that "economists from across the political spectrum agree" on the need for massive government spending to stimulate the economy. In fact, many economists disagree. Hundreds of them, including Nobel laureates and other prominent scholars, have signed a statement that the Cato Institute has placed in major newspapers across the United States.

    read complete: http://www.cato.org/fiscalreality

    Today the Governor of PA is now squawking about raising taxes on oil companies in general. An opportunistic move while attempting to make oil companies appear to be villains. Who does he think will ultimately pay those taxes? Typical Democratic philosophy.

    JT
     
  10. BFJ201

    BFJ201 TS Member

    Joined:
    Jul 25, 2007
    Messages:
    147
    That's the ticket. Tax them big evil oil companies that'll teach 'em to make a buck.

    The oil companies only add about $.15 to their bottom line for every gallon of gas sold where the various governments get about $.43 for every gallon of gas.

    Real smart, let's tax one of the last money-making American-employing industries out of the country and make us import even more.

    James
     
  11. Model Number 12

    Model Number 12 TS Member

    Joined:
    Dec 21, 2008
    Messages:
    622
    Years ago, when I was younger and had time to spend on things that piqued my curiosity, I did my own "research" on where one weeks income went. After receiving my paycheck for the week, minus the standard payroll deductions, I kept a very detailed record of where the rest of that money went. When I made a purchase, I would record any sales or use tax separately. I also factored in 1/52 of any annual tax bills I knew were coming or I had previously paid.

    At the end of the week my little research project showed that HALF of what I had earned that week went to paying one sort of tax or another.

    I realized then why I was barely able to keep up with things, never mind move ahead. Excessive taxes are a poison that will kill the strongest economy and drive people into economic slavery.
     
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