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Here's a general idea of just how badly we're getting screwed
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Lord Raiden
2009-09-04 , 03:21
Posts: 1,562 | Thanked: 349 times | Joined on Jun 2008
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Honestly, I'd rather have a VAT over here than income tax. Heck, the way they tax us already, a 20% VAT would be a bargain compared with the 33% and higher taxes we get right now. And before anyone says, we don't get taxed that high, consider this. You pay state AND federal taxes on your income. Add them up and you'll be shocked how much you really pay. And that's *WITH* deductions. Trust me, they may list you at 20-30% tax rate, but it's way higher than that once you add everything in. The fun part is, the people who should be paying to 50% or more tax rates pay like 5% because of some very shady bookkeeping. So 20% VAT would be a bargain if they got rid of all the income taxes. Plus, all the rich jokers who keep skipping out on taxes would finally have to pay their fair share, and they wouldn't be able to hid their money anymore, since all purchases would be out in the open.
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