Seemingly everyone has an opinion about taxes. As one of the largest economic and political issues of any country, the subject of how high taxes are (and upon which segment of society they predominantly fall) can be counted on to engender heated debates among politicians, academics, and ordinary citizens. However, beneath all the heated rhetoric and opinions are hard facts and numbers. Certain tax rates in certain countries correlate with certain outcomes, regardless of whether these are acknowledged by various strains of financial opinion. Today, Business Pundit takes an honest look at twelve countries – six with the highest tax rates, and six with the lowest – and examines other facets of those economies with an eye toward possible correlations. Naturally, there are several different ways to assess the income tax burden a nation imposes – the lowest rate of income tax in a country, the highest rate, income tax on corporations, and the like. Depending on who is being taxed (say, someone making $10,000 per year vs. someone making $100,000), a nation’s income tax structure can look very different. For the sake of using one uniform measure, our article uses marginal income taxes on average income workers in a given country.
The Highest Tax Rates
Belgium
As will be seen throughout this article, most of the world’s highest tax rates can be found in western European nations. Belgium tops the list, with a marginal tax rate that goes as high as 54%. Despite such a high tax rate, Belgium ranks relatively highly on various economic measures. NationMaster.com, for instance, reports that Belgium’s $392 billion GDP ranks 18th out of 203 countries, and exports over $322 billion worth of goods and services yearly. However, other statistics show Belgium’s high tax rate coming back to haunt it. The International Monetary fund ranks Belgium 18th on its list of Gross Domestic Product based on purchasing power parity, at $36,416. It is also noted that Belgium was “likely to have negative growth, growing unemployment, and a 3% budget deficit.” Canada’s Trade Commissioner Service similarly reported “a slowdown of the activity in all sectors” during the last two quarters of 2008. In sum, it seems that Belgium’s high tax rates stifle economic vitality to some extent, despite the social safety net it provides.
Finland
With a marginal tax rate of 46.6 on average workers, Finland has the fourth highest such rate in the world. However, unlike many similarly taxed countries, Finland has managed to have a stronger overall economy despite its taxation. Unemployment currently sits at 6.8% – surprisingly low given the current economic crisis and double-digit unemployment in the United States. Additionally, Finland’s $36,320 GDP per capita ranks 20th on the International Monetary Fund’s list. The CIA Factbook likewise states that Finland has “a highly industrialized, largely free-market economy with per capita output roughly that of the UK, France, Germany, and Italy.” It is also worth noting that Finland has been one of the best performing economies in the entire European Union in recent years, owing in no small part to the country’s having avoided the worst of the banking crisis.
Germany
Clocking in just beneath Finland is Germany, with a 45% marginal tax rate on average income workers. Despite having the largest national economy in Europe (and the fourth largest in the world measured by nominal GDP), Germany has effectively traded off having a comprehensive social safety net against more robust economic growth. Its GDP measured by PPP is $35,539 according to the International Monetary Fund – 21st on the list, behind Belgium. As recently as 2007, TheNewEditor.com reported that Germans were emigrating at their highest rate since the 1940′s, resulting in a “brain drain” on the nation’s brightest and most motivated people. As a result of “high taxes and bureaucracy, thousands of Germans have upped sticks for Austria and Switzerland, or emigrated to the United States” — 155,290 during the year in question, which rivals “levels last experienced in the 1940s during the chaotic aftermath of the Second World War.” Furthermore, emigrants are generally said to be highly motivated and educated, while those immigrating to Germany are increasingly poorer and less educated — perhaps more inclined to consume Germany’s generous social benefits.
Denmark
Denmark clocks in as having the fourth highest tax rate in the world at 44.4%. On the surface, high taxes have not had the chilling effect on Denmark that they appear to be having on other highly taxed nations. An ABC News story, for instance, reports that “Danes Rank Themselves as Happy and Content” – indeed, the happiest nation on Earth – despite the tax burden they bear. Furthermore, the high taxes mean that “a banker can end up taking home as much money as an artist” so that “people don’t chose careers based on income or status.” However, outsiders are skeptical of whether high taxes impose a bigger burden than is acknowledged. The New York Times (hardly an enemy of high taxation) reported in 2007 – the same year of ABC’s story – that Denmark’s tax structure was worsening a labor shortage. As in Germany, the Times found that “the Danish labor force had shrunk by about 19,000 people through the end of 2005″ (significant in a country of less than 6 million) because “Danes and others had moved elsewhere.” To its credit, Denmark does boast the 16th highest GDP per capita at $37,304 – impressive for a small and highly taxed nation.
Italy
As of 2006, the highest tax rate in Italy has been roughly 43%. Unfortunately, Italy also has the lowest GDP per capita of any country covered so far — $30,631, good for 27th on the International Monetary Fund’s list. Various economic indicators portray Italy negatively, not the least of which is debt as a percentage of GDP being higher than 100%, according to EconomicsHelp.org. Italy also appears to have a sluggish male work population. According to Mint.com’s article on bizarre tax breaks around the world, Italy once toyed with the idea of offering males 30 and over a tax incentive to leave their mother’s homes and start their own lives. The problem, Mint writes, is ” is apparently so bad that a third of all men over 30 live at home” in Italy. Naturally, this segment of the population is not participating in economic growth by having their own homes or apartments, utility bills, and the like. The case could be made that overly generous government benefits have softened the population’s will to work.
France
Finally, no discussion of highly taxed nations would be complete without including France. With a top marginal tax rate on average workers of about 40% (and a top tax on high-income workers of nearly 50%), France is long-known for sacrificing economic growth to social benefits handed out by government. As Charles Wheelan writes in his book Naked Economics, “France is a good place to be a struggling artist, and a bad place to be an Internet entrepreneur.” Despite being the fifth largest economy in the world, France’s GDP per capita stands at just $34,205 – only 23rd on the IMF’s ranking. A study done several years ago by the Organization for Economic Cooperation and Development found that “France’s tax burden as a percentage of gross domestic product last year rose to 43.7%, from 43.4% a year earlier”, according to ThisFrenchLife. A 2009 Wall Street Journal piece likewise finds France’s popular universal healthcare system “has been in the red since 1989″, with an expected 2010 shortfall of €15 billion.
The Lowest Tax Rates
Switzerland
Perhaps unsurprisingly, the country with the lowest marginal tax rate on average income workers — Switzerland, at 20% — also boasts the world’s 7th highest GDP per capita at $43,196. The UK’s Times Online called attention to Switzerland’s “benign tax system” in a 2009 article about the nation’s “low tax high life” that invites people to escape 50% tax rates by moving there. Contrary to general assumptions, the Times explains, Switzerland has found a way to maintain a high standard of living alongside an extremely low personal income tax rate. BusinessWeek likewise reported in 2009 that Switzerland was “openly and legally urging multinationals to relocate” — and succeeding, while other nations buckled beneath staggering debt. Switzerland’s low tax rates have not stopped it from having some of the leading universities in the world, a highly educated work force and less than 3% unemployment as of 2009.
USA
The United States is still relatively tax-friendly, with a marginal tax rate of around 27% on average income workers. As the world’s largest economy by far, the economic vitality and high standards of living in the U.S. speak for themselves. The United States boasts the 6th highest GPD per capita in the world at $47,440 and serves, in the words of Wikipedia, as “the epicenter of world trade.” Total GDP stood at over $14 trillion for 2008, which is more than three times that of the world’s second largest economy (Japan). American citizens also have the highest income per hour worked of any nation surveyed. By any objective measure, the United States and its relatively low tax rates offer the best of both worlds — reasonable social safety nets, and extraordinary economic capacity stemming from essentially free market policies. The standard of living in the US is evidenced by consistently being the most immigrated-to nation on earth — 38,355,000 immigrants currently call the US home, more than double that of Russia, which is second on the list.
Australia
Australia, with a 31.5% marginal tax rate on average income workers, manage to clock in at 17th on the IMF’s GDP per capita ranking with $36,918. The island nation is bouncing back surprisingly strong from the worldwide economic meltdown, with the BBC reporting on January 14, 2010 that had fallen to 5.5% at a time when similarly situated nations are struggling with double-digit unemployment. According to Deputy Prime Minister Juliar Gillard, the BBC’s findings “provide further evidence of how Australia has outperformed virtually every other advanced economy during the global recession.” With a tax rate similar to that of the United States, Australia has long provided incentives for the hard work, entrepreneurship and risk-taking that are fundamental to sustained economic growth and high standards of living.
Canada
Canada is taxed in a manner similar to that of the United States, imposing a 31.2% marginal tax rate on average income workers. Despite a $39,098 GDP per capita (good for 13th on the IMF’s list), Canada has struggled amidst the current economic crisis. The Canadian government’s statistical agency, Statistics Canada, reported on January 8, 2010 that the national unemployment rate sat at 8.5% – slightly below the double-digit rate of the U.S., but still troubling. Canada-based CBC News also reported in early 2009 that the International Monetary Fund had “slashed Canada’s GDP growth for 2009 and 2010.” Like Japan and several other nations so far discussed, Canada maintains universal healthcare coverage for all its citizens in addition to other social programs. Canada has also, according to Reuters, ruled out raising taxes to ease the national deficit, but rather, would “constrain public spending” instead.
Japan
Japan is an interesting case on several fronts. Despite being the second largest economy on Earth, Japan’s GDP per capita is just 24th on the International Monetary Fund’s list, at $34,116. Canada’s Parlimentary Research Service offers some answers. One explanation for Japan’s recently diminished economic vitality could be that “Japan was the country with the lowest government revenue-to-GDP ratio (31%) and the second-highest government net debt-to-GDP ratio (78%).” Nonetheless, it’s 33% marginal tax rate on average income workers represents one of the lowest in the world. Japan’s unemployment rate also stood at a manageable 5.5% as of late October 2009, according to the BBC. To its credit, Japan boasts a strong standard of living, including a hybrid system of public and government-subsidized health insurance for all its citizens.
United Kingdom
With a 32% marginal tax rate imposed on average income workers, the UK still qualifies as a relatively low-taxed nation, but only amidst the rest of highly-taxed Western Europe. With a GDP per capita of $36,358 (19th on the IMF’s ranking), Great Britain stands as the sixth largest economy in the world by this measure. The United Kingdom provides universal healthcare to its citizens, as do most industrialized nations in Europe, and Poverty.org reports that roughly 21% live below 40% of the country’s median income. The country is also a major financial hub in the world economy, with London housing various important stock exchanges and investment banks. Unemployment is manageable at 7.8%, as of the fourth quarter of 2009, compared with double-digit employment in many similarly situated nations. All told, London continues to offer one of the higher standards of living in the world, owing in part to its relatively low taxes and focus on economic growth.
I’m sorry. This article is just incorrect.
Is it meant to read High & Low, instead of Highest & Lowest?
Please retract the article or change it. It is very misleading.
This is total b.s. Read the link below it explains what ” marginal taxes” are. And that they don’t include sales tax and star tax.
We are taxed more than any county overall and don’t let anti American propiganda convince you otherwise.
http://www.econlib.org/library/Enc/MarginalTaxRates.html
Fascinating list. I would like to see how cost of living factors in, but nonetheless.
http://jimasks.me/is-the-primary-purpose-of-the-prison-system-to-punish-criminals-or-rehabilitate-them
Being a tax accountant in the USA, I can very safely say that the highest marginal tax rate in the USA is NOT 27%.
It is actually 35% soon to be 39.6%. Very misleading article.
How can Switzerland and the USA both have the 7th highest GDP per capita?
Misleading title, selective sampling and no consideration of services provided.
“the economic vitality and high standards of living in the U.S. speak for themselves.” – Say what?
“The United States boasts the 7th highest GPD per capita in the world” – Just the 7th?
“the United States and its relatively low tax rates offer the best of both worlds — reasonable social safety nets,” – social safety nets?
“and extraordinary economic capacity stemming from essentially free market policies.” – yeah, like being laid off without any social safety net to speak off.
By the way, some of the lowest income taxes are in Russia. I believe it’s like 13% flat.
Sorry, but New Zealand has relatively low tax rates. Probably lower than the States too:
http://www.ird.govt.nz/how-to/taxrates-codes/itaxsalaryandwage-incometaxrates.html
Not sure how I was paying 48% tax in Canada and 19% tax in USA makes Canada a low tax area. This article is B.S at it’s very best.
“All told, London continues to offer one of the higher standards of living in the world, owing in part to its relatively low taxes and focus on economic growth.” – I bet it’s cheap to live there, too.
Singapore has lower tax rates than all the ‘LOWEST’ you have listed. Their maximum is 20%.
-CK
Did the author actually conduct any kind of research?
This article might be accurate if he’s limiting the scope of the comparison to countries in Europe & North America only. Has he compared tax rates of countries such as Singapore or Hong Kong?
you guys need to check out HK’s tax rate
The author has pretty much selected top GDP/Per Capita nations for comparison, a relatively misleading note on highest vs. lowest taxed nation.
Perhaps the statement above should be inserted first.
“All told, London continues to offer one of the higher standards of living in the world, owing in part to its relatively low taxes and focus on economic growth.” – I bet it’s cheap to live there, too.
Bwahahahaha…Ummm, it’s the 2nd most expensive city to live in.
This post is incredibly superficial, uses a very selective sample, data are WRONG and comments from various non homogeneous sources incoherently “copied and pasted” end up in risible conclusions. It does not even mention other taxes, sometime very important to expats, like capital gains. Singapore=0%, Hong Kong=0%, Switzerland=0%, Germany (shares held >1 year)=0%, Italy=flat 12.5%…sorry for you if you reside in the supposedly low tax countries of US, Australia, Canada (unless you have an immigrant trust) and UK (unless you are non domiciled)
What a bunch of poop. Highest tax rate in US in 35%. And the tax rate in UK tops at 50%…
This list fails, even if you are doing “industrialized” or first world countries.
The lowest tax rate above pales in comparison to the 15% Salaries Only tax leveled in Hong Kong (technically its own jurisdiction)- this is even lower than Singapore’s 20%.
Do some research next time guys.
No question, there were a couple errors in this article. (The USA and Switzerland can’t BOTH have the 7th highest GDP – come on now!) However, many of these comments are just splitting hairs without adding anything meaningful to the discussion.
For instance:
“Being a tax accountant in the USA, I can very safely say that the highest marginal tax rate in the USA is NOT 27%.It is actually 35% soon to be 39.6%. Very misleading article.”
True, 27% isn’t the highest, but the author didn’t say it was the highest. It says 27% is the rate assessed on *average income workers*. Reading comprehension goes a long way!
Or how about this guy:
“Not sure how I was paying 48% tax in Canada and 19% tax in USA makes Canada a low tax area. This article is B.S at it’s very best.”
Again, the author is clearly citing the rates assessed to *average* income workers in these nations. The fact that you personally got taxed at 48% in Canada doesn’t make the article “B.S. at its very best” – read what it actually said.
Finally, this comment:
“This is total b.s. Read the link below it explains what ” marginal taxes” are. And that they don’t include sales tax and star tax.”
Did the author claim to be discussing sales or star taxes? No. Now, one could argue that those taxes ought to be discussed in an article like this, but it was more or less clear from the outset that *income* taxes were being discussed, not sales taxes, so it’s not as if the author claimed marginal tax rates included sales or star taxes and then deceived you because they don’t include them.
All in all, I understand some criticism here regarding purely factual mistakes, but this article is nowhere near as bad as some of these commenters allege. The author should’ve clarified that marginal rates on average income workers were being used as the basis for the piece, and a good deal of the complainers should’ve paid attention before complaining.
Nice to see that there are other countries ahead of mine (Croatia) that have higher taxes…
Interesting article as far as it goes but what would be more interesting is overall tax burdens and cost of living.
In Québec/Canada we pay a max of 52% past 50K or about annual income and sales taxes combined federal + provincial mount to 12.88%.
Not the cheapest please to live.
Phil says, “Being a tax accountant in the USA, I can very safely say that the highest marginal tax rate in the USA is NOT 27%. It is actually 35% soon to be 39.6%. Very misleading article.”
Being literate, I can very safely say that the article did not state that the highest marginal tax rate in the USA is 27%. It said that the “average” worker’s marginal tax rate is 27%. That’s a pretty big oversight for a tax accountant to make.
In any case, this article is indeed worthless because it does not consider the total taxation of the people, which in the United States comes primarily through inflation. In a single lifetime, inflation has stolen 93% of the purchasing power of the dollar. It punishes savers and anyone who owns dollar-backed equities like US stocks, bonds, and CDs.
In my personal experience, I’ve estimated that inflation adds another 40% tax of my income. And the longer I save money (in order to make a big purchase like a house), the worse that rate becomes.
Maybe the UK has a marginal tax rate of 32%, but the universal healthcare the article is boasting of is funded in part by the additional, mandatory tax known as “National Insurance”, currently 12.5%. No, the UK is not cheap.
Erm, how about countries with NO tax.
E.g: Brunei, Middle Eastern Countries.
Funny thing, all the countries listed above are so called “white” countries, except Japan.
I am not a tax accountant and can’t comment on that part. However, this article is not purely factual. It contains all sorts of conclusions and implications about standards of living, social safety nets, economic viability and all that based on marginal tax rates. I believe it presents an overall misleading picture. I live in Boston, USA and make decent money and pay big taxes. Not to mention, school loans and health care out of pocket expenses that run in hundreds of dollars a month. One of my biggest fears is to lose my job and leave my two children without insurance. The cost of leaving needs to be factoed in, too.
So the article is misleading in general… because of student loans that you pesronally took on and because the U.S. doesn’t have universal healthcare? Sounds more like gripes you have with the country than the factual basis of the article.
You’re right – an article that sweepingly accounts for income taxes on every possible income level, sales taxes, corporate taxes, inflation, cost of living, national debt, fiat currency, presence or absence of government healthcare and all the innumerable factors that go into a country’s standard of living…. and definitively ranks the highest and lowest tax nations… would be cool. It would also be long enough to fill a scholarly paper in an academic journal. It looks like for brevity and consistency’s sake the author chose median income tax rates on average income workers. You’re free to disagree with that choice, but it’s lame and childish to call it “B.S.” and “misleading” especially when A) many of you didn’t even fully read what you are complaining about and B) the author didn’t claim to incorporate many of the things you bash the article for not incorporating.
Hell, the title says “tax rates.”
What a piece of garbage by the author of this article. Canada has ‘struggled’ in the economic depression? Really? Canada was the first G7 country to exit recession, has not had a single bank failure OR even a need to bail out banks. Our unemployment rate has been relatively steady and is much lower than the US. This in spite of the fact that 85% of our trade is with the US, which had a massive economic failure.
HK has a flat rate ~17% and no sales tax, except for hotels and booze imports.
“So the article is misleading in general… because of student loans that you pesronally took on and because the U.S. doesn’t have universal healthcare?”
What do you call it? It clearly suggests that if a tax rate is low the country will be economically viable with a high standard of living and social safety nets. That’s propaganda and as all propaganda it is misleading.
It doesn’t suggest that at all. It says that the U.S. has relatively low income tax rates on average income workers, a high standard of living (supported by highest income per hour worked statistics) and reasonable safety nets like Social Security, Medicare, etc. The article doesn’t say there is necessarily a *causal relationship* between those things… it simply states that they co-exist with each other. So how is it propaganda if everything actually stated (as opposed to implied by you) is incontestably true?
If it had said there was a causal relationship it would have been a lie. I am not saying it is lying, it just simply serves up certain cherry picked information in a context of a “research” article on low taxation. The purpose is pretty transparent – to propagate low taxation. Plus, contrary to what you say, such words as “reasonable” social safety nets and “high” standards of living may definitely be disputed. Just because Mexicans, South Americans and Haitians trip all over themselves to come here does not mean it is freaking heaven over here. I am from the former USSR, by the way, and this article reminds me of how BS was being fed there about that country. It paints a rosy picture without acknowledging any negative sides whatsoever.
I see your point, but can you tell me where heaven on earth is? That’s sort of a straw man argument. Of course the U.S. isn’t perfect. But if your argument is that millions of people who leave the countries of their birth, their families, their cultural heritage and whatever other ties they have to come here aren’t evidence of something desirable about the United States then you are sticking your head in the sand. Pointing out this obvious fact shouldn’t be conflated with claiming the U.S. is perfect.
As for the alleged bias of the article. I don’t see it as being propaganda. It acknowledges several shortcomings of the low-tax nations, including Japan’s high debt, reduced growth forecasts for Canada and how the unemployment rate in several high-tax countries is currently lower than the U.S. It isn’t like the author described each country in two dimensional “this country is great, this country sucks” terms depending on how high the taxes are. Isn’t it possible that maybe (just maybe) countries with lower taxes often DO have higher standards of living and more economic growth? Or is the malign intent of the author the only possible explanation for the picture that emerged?
People come here because this country offers a vastly better standrard of living than in many other countries. That is undisputed. However, whether that automatically qualifies as a “high” standard of living I am not so sure. Perhaps I misread the article, but it is consistent with certain ideological movement in this country that equates lower taxes with all those goodies described in the article.
I agree with you that the article perhaps bit off a bigger question than it could chew in the space allotted for it. More factors would have to be considered for a truly definitive ranking. Regarding high standards of living, an economist might ask: “high compared to what?” Sure, we can always imagine something better than the actual alternatives in the real world. The U.S. is hardly perfect and isn’t better economically than every other country in every possible way. My only point was that if we’re comparing it to many of the countries that have confronted us throughout human history and many that exist today, it offers people a pretty good deal. I could give you my own laundry list of things it needs to do better, and we might agree on more of them than you’d expect.
Here is an example. George Will writes today in WP: “Under him, Indiana property taxes have been cut 30 percent, and for the first time Standard & Poor’s has raised the state’s credit rating to AAA.” Ok both statements may be literally true, but why are they in the same sentence? I did a quick search and here is what I found:
“These ratings reaffirm that Indiana is in far better fiscal shape than many other states because we continue to carefully manage our spending and maintain a reserve,” said Ryan Kitchell, director of the Office of Management and Budget.
Ok so there is more to the story than cutting taxes? Or not? Just disclose all relevant facts and let readers decide.
That’s a good point. In fact, one of my biggest gripes with Ronald Reagan (whom I like in general) was that he cut taxes without also cutting spending and exercising fiscal discipline. You need both to get prosperity without deficits. However, it’s also true that if the article simply mentioned careful spending and ignored the low taxes, it would also be incomplete. So you’re right, both sides of that story need to be told.
You, Mr. Author, have no clue what you are talking about.
The bit about Italy tastes of stupid so strong I had to get a drink of water.
a) Naturally, this segment of the population is not participating in economic growth by having their own homes or apartments, utility bills, and the like.
Yeee-es, economic growth is based on paying more rents, more bills, and taking mortgages. Let’s all move out of our parents’ place and create more debt. Are you mad ?
b) The case could be made that overly generous government benefits have softened the population’s will to work.
There are no overly generous government benefits. In fact you seem to misunderstand what you yourself quote, which says that people can’t afford to move out of their parents’ home, which is what made the government “toy with the option of a tax incentive”.
I know this is the internet, but garbage is garbage.
Regards
Delaware & Nevada help keep the US on the bottom 5 list. Depending on what state you’re in, you could actually be on the top 5.
I dont think the usa goverment gets it….the more they raise taxes the more the people start talking about a revolution i hear it all the time people are sick of politicians in the white house…if i could i would surrender my citizenship and ask to be deported before the revolution starts i have no respect 4 uncle sam the dishonest goverment in the world this country is on a path of self-destruction and im not going down with it im out of here as soon as it starts kiss my white american ass olamna i can go on on but whats the point………………… have a great day
This only considers western countries right? I would imagine that developing countries have lower taxes…
This article does not get specific enough about a few things in some other countries, including the USA. I saw another related article showing the USA having the 14th highest tax rate among industrialized countries. However, this article fails to mention that almost everybody in the US has an adjusted tax rate that is based on what you paid in taxes after you filed a return. No matter how rich you are, your adjusted tax in the USA is between 16.5 and 19 percent. But I would guess that if the US keeps losing jobs to China and other countries who employ children to do the work for little or no pay, the US will cease to be regarded as an industrialized country.
THE CZECH REPUBLIC HAS THE LOWEST PERSONAL AND CORPORATE TAX RATE IN EUROPE. YOU DON’T EVEN LIST THEM. SO MUCH FOR RESEARCH.
On the day I was born they began to:
Tax my earth. Tax my birth. Tax the land you say I own. Tax the home I think I own. Tax the door. Tax the walkway to that door. Penalize more taxes to that home should I repair some stone. Tax the right to own, a fee to roam, for it’s not long to have that home.
Tax my bed. Tax my table, at which I am fed. Tax me deep for I need not sleep. Tax my car. Tax the fuels of my anger, for you have taxed all others so to add employment for your brothers.
Tax my cat. Tax my dog. Tax my shoes. Tax my coat with no regret. You have managed to tax my goat. Tax the young. Tax the tired. Tax the cold, for all those taxes wont grow old. Tax my tea, there’s no plea no voice for joy, only a speechless ploy. Go ahead and squeeze me for much much more.
Tax my truck. Tax the plates I place upon that truck. Tax it heavy, just like a mule. Tax it equal to the load It carries , no need to enter school., but teach me that taxes are the rule. Tax you must, don’t pass an attempt to attach another tax to say you must, so now comes the time to tax my ass.
Tax my work. Tax my new blue jeans I wore to work. Tax my pay, and allow no time to play. Allow me to work all day for taxes are all I need to pay. I have no time to spend one dime from all the taxes you say are mine. Remove from my paycheck, and send me back what you cannot spend, I will accept this abuse, for what’s the use ? You will give those taxes you say are mine to the wealthy so they stay healthy.
Tax my tobacco, along with the sins of my drink. Tax the smell of my cigars, and the beer I burp, and should I cry, have no fear to tax my tears. Tax me in a blink, should I decide to think. I hate to play, so make me pay. More taxes are here to stay. Tax the short. Tax the tall. Tax us all, and don’t throw sticks, tax the sick, no matter if they cry tell them taxes never die.
Tax the old. It will be bold. I’ve been told I too am growing old. Those few hours I now work, still new taxes are un-corked. I need no place to land, as it stands I was sent a fax, my work was given the ax. Should I holler and scream, and lose some steam, don’t arrest I need some rest. Don’t place me in a cage, just blame it on my age.
Tax any and all I have, then let me know that you wont be done, as you have taxed me to the bone. Then when all is said and done, tax my coffin, and to satisfy your crave, by all means tax my grave.
Tax the sod in which I am laid. Place these words upon my tomb, “ Taxes carted my dumb ass here, and I no longer have the time to play nor means to pay.” I am gone, it’s not long to max the tax on my death, so I leave you this request. You a need a tomb for taxes, as the rich are rich enough and the poor are poor enough, and your voices not loud enough. When your voices are un-employed, work may be the least of your worries. You will need to work – work – work more hours as they will not relax the tax, so my last advice is to take ex-lax . THEY WILL NOT LET YOU PASS, YOU TOO WILL TAKE IT IN THE ASS!
What do Politicians, hot air and taxes have in common? Politicians are full of hot air and taxes always rise. Do you know the difference between the acronyms of IRS and KGB? Only the spelling.
Sincerely;
Kenneth E. Sanders
This is the least researched article I have ever seen, totally misleading and innacurate.
The czech republic has the lowest corporate and personal income tax in europe. 15 % flat tax individuals and 19% corporate. VAT is 19% consistant with most european countries. The are the “Detroit” of europe with 5 automobile manufacturing companies producing cars.
I certainly hope that our intrepid business pundit was being tung-in-cheek in his paragraph on Switzerland when he quoted Times Online:
“Contrary to general assumptions, the Times explains, Switzerland has found a way to maintain a high standard of living alongside an extremely low personal income tax rate.”
It is “generally assumed” that high tax rates are necessary for the people to maintain a high standard of living? Is that a typo, or is the Times Online on drugs?
And then Business Week: “Switzerland’s low tax rates have not stopped it from having some of the leading universities in the world, a highly educated work force and less than 3% unemployment as of 2009.” “Not stopped it”?!? Perhaps the business pundit only quotes dyslexic sources.
By the way, the country with the lowest tax rate is Saudi Arabia, with 2-3%, collected voluntarily. Most people donate the 2-3%. Even the Swiss could learn something from the Saudi’s.
The writer should be fired for such a sham of an articles. Please research and check the facts. Singapore corporate tax is 17% and personal tax max 25%. I don’t see Singapore anywhere on this list. How on earth Australia made this list? I almost feel off my chair laughing. I declined a position down under after my University education and move to Asia simply because the Australian tax is too damn high. I got less per annum renumeration in Asia but far more $$$$ in the bank because I pay less tax.