Quote:
Originally posted by Mike AI
The US became and is the #1 economic power because of the freedom we have to start our own business, take risks, and do our own thing. Very few places around the world are as easy to start your own company, and start doing business. We also let people who create wealth keep it and not tax it all away.
Of course the past 50 years the Federal and State gov't have been making it rougher, and taxing companies more - but compaired to the rest of the world its still a better system.
|
I just had to comment on this bit too... Less tax, than who? I just recently actually bothered to check what I'd be taxed in the US, and of course it would vary a lot between states and counties, but the end result I found was that I'd be taxed approximately the same in the US and UK, with a significantly above average salary.
When I worked in Norway, which is typically presented as a high tax country, on a more "normal" salary, I was taxed about the same as the same salary would have been taxed in the US as well, though in Norway I would have been taxed more if my salary had been extremely high.
Same goes for companies in most cases - taxation of companies in the US isn't particlarly lower than elsewhere.
Low US tax is a myth. I pay about 32% tax in the UK at present, and US federal tax at my income level + state taxes in any of the states I'd consider living in + local taxes would end up around the same level. Considering that I get more for my tax money in the UK (I don't NEED a health insurance to feel safe, for instance), I'm pretty happy.
The interesting part, though, is that the US tax brackets weight taxation much less towards high earners than most European countries do, and consequently an average earner in the UK would likely end up paying MORE tax in the US if he or she moved to the same states I would consider... Certainly the math could look different for some US states... But then not all states are made equal :-)