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Australia's tax burden is 27.8% of GDP USA's tax burden is 27.1% of GDP Not an enormous difference.
by iso1210 6y ago
Australia's tax burden is 27.8% of GDP
USA's tax burden is 27.1% of GDP
Not an enormous difference.
- AnotherGoodName 6y agoThe tax brackets are the point i'm making. Australia literally has 0% for the lowest bracket whereas the USA starts at 10% even on the lowest wage earners. The difference is made up for in the higher brackets. This boosts median wealth for a nation whilst it doesn't affect the average wealth per person. Having the median wealth higher so that there's a functioning middle class is a good thing.
- iso1210 6y agoAus median wage AUD89,000, tax on that seems to be $20,472.00 - 23%, plus $1780 medicare US median wage USD49,764, Fed + CA tax is $9,611.02 - 19% Median wage in Australia is far higher than in America seems more important than the tax rate at the 50th percentile