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"While continuing to point out that the US has a lower tax burden than Denmark, Sweden, Belgium, ... Canada" As far as Canada is concerned, this statement is f
by tici_88 16y ago
"While continuing to point out that the US has a lower tax burden than Denmark, Sweden, Belgium, ... Canada"
As far as Canada is concerned, this statement is false in certain cases. For example, the small business (income < 0.5 mln) corporation tax rate here in BC is 13.5%. This is combined state + federal, and will go down to 12.5% in 2011. The corresponding rate for the US is 40%, I believe.
Income taxes rates are also lower for certain income brackets. When they lowered taxes here a few years ago, the claim was that people making $90K/year face the lowest tax rates in North America. Here is a somewhat informative table of taxes paid for various income brackets: http://www.wolrigemahon.com/txrates.html http://www.wolrigemahon.com/txrates.html.
Where the US makes up for lost ground though is through the myriad tax deductions that are sprinkled to various special interest groups, e.g. mortgage interest deductions, etc.
- tptacek 16y agoIt's not false in the aggregate; an equally fair argument would be to find locales in the US with miniscule property taxes and no state personal or corporate income tax (somewhere in Wyoming, presumably).