Quote:
Originally Posted by Mutt
Paul your most successful financial years were in the Czech Republic. What were the corporate and personal income tax rates for you?
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TBH I don't know. We are a registered corporation the tax rate is 15% of profits. Our personal taxes as an employee of the company were 40%. The company employed 8 people at it's height and that was 32% on top of their wages.
I never regarded taxes as "lost" money. It's money paid to keep the wheels of the country turning. As I point out in replies to those who talk about "waste". It's only waste when it goes out of the country. This is the lie of the "trickle down" theorists.
It's waste when it goes to a bank in the Caymans, pert is waste on a BMW, Chines toys, etc. It's not waste when it goes to build the country around you, or to the needy who go spend it in Ralphs. Trickle up and trickle around works better than trickle down.
Yes some of it is badly spent. And that's the real problem.