Quote:
Originally Posted by BigCashCrew
It looks like anyone who makes over £34,600 gets taxed 40%. Compare that to the highest tax bracket in the US which is 35% if you earn $336,551 and above.
£34,600.00 is $46,853.63 is USD. In the USA you would only pay 25% taxes on that. We have 2 more tax brackets before you get to the highest bracket of 35%. Looks like you have to pay more taxes.
Tax Bracket In the USA.
* 10%: from $0 to $7,550
* 15%: from $7,551 to $30,650
* 25%: from $30,651 to $74,200
* 28%: from $74,201 to $154,800
* 33%: from $154,801 to $336,550
* 35%: $336,551 and above
Tax Bracket In the UK
Taxable Bands table Taxable Bands Allowances 2007-08 (£)
Starting rate 10% 0 - 2,230
Basic rate 22% 2,231 - 34,600
Higher rate 40% over 34,600
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In the US we also pay Social Security and Medicare taxes that are scaled to cost the most to the poor and middle class, plus in most states a state income tax. we also still get to pay for health and dental insurance if we can get them and afford them.
After reading the responses to this I think Michael Moore hit right on target and that the ingrained fear of "socialism" is a nonsense propaganda move funded by government and big business. Reality is that the US system does pay for the poor they end in emergency rooms and their fees are either paid for by government or those patients that pay their bills. If they system did provide free healthcare to all then costs would actually be reduced.