RealGM

I was under the impression that we still had the lowest tax rate of any 1st world country.

But yet this article says:

http://realgm.com/src_feature_article/2 ... t_appears/

"When Wafer signed with Olympiakos, the deal was reported as being worth approximately $10 million. But when you factor in Greece's tax rate, which is approximately twenty percent for an individual with Wafer's income, his actual earnings decrease significantly.

Upon returning to the United States, which has a tax rate of nearly forty percent for a citizen with Wafer's salary, he will be expected to pay the twenty percent difference in rates out of his own pocket assuming he does his taxes correctly. So while it may seem as if Wafer is making much more money with Olympiakos, after paying that difference his deal is actually equivalent to a two-year, $5.6 million contract or $2.8 million per season.
"

People in Greece only pay a 20% tax rate if their income is over $1m per year???

LukasBMW wrote:I was under the impression that we still had the lowest tax rate of any 1st world country.

http://en.wikipedia.org/wiki/Tax_rates_around_the_world

it still is pretty low compared to the other countries

You also need to take into account property and sales tax for it to be a real comparison.

WTFsunsFTW wrote:You also need to take into account property and sales tax for it to be a real comparison.

Lot's of taxes to be taken into account. America is still fairly low for overall taxes. I've always been more in favor of excise taxes than direct taxes, but I think it definitely has to be done right. Death and taxes my friends.

If taxes concern you.... then look at fairtax.org

I have found that most youngsters (ie new workers, college kids, newly grads) have a very limited scope of our current tax methods and their overall effect on you as a wage earner.

Usually it takes about 3 - 5 yrs of paying taxes, before you stand back and go WTF ????

I am not certain the fair tax is the best plan, but it is the first time I can remember where the status quo is being effectively challenged. Read up on it... and email your congressman. Do not be swayed by select media/individuals who are trying to lump this "progressive' movement in with the whole right wing teapartiers. The resistance by a few to even debate and discuss this should be an indicator of its worth.

and now ... for your reading entertainment.....

The so called american dream has been eroded by greed. This country is no longer the leader in bootstrapping your way out of poverty. We have fallen to 'second world' status in the ability and opportunity for class improvement. There was a very good discussion on Bill Maher last night concerning just this. We are constantly being fed pro American propaganda/spin.... how it is so much better here... health care, taxes, social structure... I suggest you take a good look around and think just how great it really is....and don't just compare us to Canada/Mexico...try looking at how it was here 40-50 yrs ago..... think of how corporate greed has influenced DC... how politics and lax social behavior have wrecked our education system... how we have allowed our manufacturing base to be shipped out... Christ... even our military wears gear made in China. We start a war, then continue to pay for it at the expense of everything else. The dollar amounts are astronomical. The return on Investment highly questionable. Hey... but we are defending freedom right ??? Think again and follow the money. This recent bail out crap to banks should startle everyone. But then realize that our political system is controlled by a select few. Guess who Obama's largest contributer was/is.... ? ... Goldman Sachs, who received billions from you.... the tax payer... here is a scarey article...
http://www.rollingstone.com/politics/story/29127316/the_great_american_bubble_machine
read it and weep.   

For all you youngsters out there (I have seen 2/3s of my expected life) wake up and get involved. Change will happen only if YOU do not behave the same way the 18-30 yrs olds did the past 20 yrs.
Good-Old F-ers have been running this country toooo long. Oust them before the damage is irreparable.

BTW...Currently, the only thing Obama has changed is his address.


There, my daily $0.02 worth. Thanks for stopping by.

As a person that has traveled and have had friends who have lived in other European, Asian, and South American countries, they were always happy to be home. I still believe this is the best country and has the best advantages for freedom. One thing Frank said that was so true is the greed is in both political party's. This is not new and has been in the system for decades, not just here, but in other country's too. If you think things are changing, they are. If you look at the bailouts, the more government run systems and so on, it all adds up to more taxes!

I have been a person that believes you help a person get on their feet, not support them, and make them lazy like our government wants to do. I’m sick of hand outs to big corporations and to lazy people. I am poor as hell and I’m in grad school working on two degrees, but do not look for handouts. I am working to improve my life and my family’s life. Private industry is being taken over by government, and a growing government is wanting more control over states and the individual.

I just have no hope in our politicians at all. I have been active politically and do not vote along party lines. I am sick of the lies, the misleading facts, the bias media that is suppose to be on the side of the people to get the real info and facts out there. With everything this country faces, taxes right now will look low after the next decade or so. I also hate Bill Maher and believe he is one of the most ignorant people out there, along with Rush. Bill is a moron.