Which country has the best tax system, why, and what is it?
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  Which country has the best tax system, why, and what is it?
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Author Topic: Which country has the best tax system, why, and what is it?  (Read 714 times)
Blue3
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« on: August 04, 2014, 01:43:21 AM »

1. Which country has the best tax system?

2. Why?

3. What is it?






( Some Wikipedia sources for a little background knowledge:
http://en.wikipedia.org/wiki/Tax
http://en.wikipedia.org/wiki/List_of_countries_by_tax_rates
http://en.wikipedia.org/wiki/Taxation_in_the_United_States
http://en.wikipedia.org/wiki/Taxation_in_the_United_Kingdom
http://en.wikipedia.org/wiki/Taxation_in_Australia
http://en.wikipedia.org/wiki/Taxation_in_Canada
http://en.wikipedia.org/wiki/Taxation_in_the_Republic_of_Ireland
http://en.wikipedia.org/wiki/Taxation_in_New_Zealand
http://en.wikipedia.org/wiki/Taxation_in_France
http://en.wikipedia.org/wiki/Taxation_in_Germany
http://en.wikipedia.org/wiki/Taxation_in_Japan
http://en.wikipedia.org/wiki/Taxation_in_China
http://en.wikipedia.org/wiki/Taxation_in_India
http://en.wikipedia.org/wiki/Taxation_in_Indonesia
http://en.wikipedia.org/wiki/Taxation_in_Singapore#Taxation
http://en.wikipedia.org/wiki/Taxation_in_Taiwan
http://en.wikipedia.org/wiki/Taxation_in_Hong_Kong
http://en.wikipedia.org/wiki/Taxation_in_South_Africa
http://en.wikipedia.org/wiki/Taxation_in_Italy
http://en.wikipedia.org/wiki/Taxation_in_Spain
http://en.wikipedia.org/wiki/Taxation_in_Portugal
http://en.wikipedia.org/wiki/Taxation_in_Poland
http://en.wikipedia.org/wiki/Taxation_in_Austria
http://en.wikipedia.org/wiki/Taxation_in_Switzerland
http://en.wikipedia.org/wiki/Taxation_in_Norway
http://en.wikipedia.org/wiki/Taxation_in_Sweden
http://en.wikipedia.org/wiki/Taxation_in_Finland
http://en.wikipedia.org/wiki/Taxation_in_Denmark )
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jfern
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« Reply #1 on: August 04, 2014, 04:10:44 AM »

Norway must be doing something right. Taxes are 42% of the GDP. Yet their per capita GDP is $101k, second only to Luxembourg. Here are the top 10.

1    Luxembourg   120,001
2    Norway   101,310
3    Qatar   100,260
4     Switzerland   87,300
5    Australia   80,000
6    Singapore   75,000
7    Denmark   73,600
8    United States   54,980
9    Canada   54,000
10    Sweden   53,980
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Blue3
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« Reply #2 on: August 04, 2014, 02:14:28 PM »
« Edited: August 06, 2014, 09:11:25 PM by Starwatcher »

Yeah, Norway proves higher taxes don't mean a weaker economy.



On the other hand, I've also noticed a fair amount of countries also have a flat income tax, and not have disastrous economic effects from that alone.



And I came across this U.S. proposal, that says you can eliminate taxes for everyone making less than $215k (except payroll taxes), eliminate deductions/credits/loopholes, have a flat tax for everyone making more than $215k, and it be revenue-neutral (with no other new tax). The rate would be around 50-55% for it to be revenue-neutral.
http://en.wikipedia.org/wiki/OneTax

I also did some research, and found a few years ago that for there to be a "normal" flat tax on everyone in the United States and it be revenue-neutral, while eliminating all deductions/credits/loopholes, the rate would have to be around 28%.

I did some more research, and found that a total tax burden around 70% would be the one that gets the most out of people, before overtaxing becomes too much of a burden and actually decreases revenue. Which is a lot higher than I thought it would be, but like it was said, Norway's total tax burden must come close to that and it's pretty well off.

The ideal to me would be something close to the OneTax, but also replace payroll taxes too, and we shouldn't be afraid of people making less than $200k paying at least a little in taxes.
I wonder how much revenue a plan like this would generate for the United States (if it could ever pass):
* $0-50k/year=0%
* $50-150k/year=1%
* $150-250k/year=5%
* $250-400k/year=40%
* $400k+/year=67%
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Blue3
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« Reply #3 on: August 06, 2014, 05:52:05 PM »

Why doesn't anybody want to talk about this?
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Swedish Rainbow Capitalist Cheese
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« Reply #4 on: August 06, 2014, 08:12:15 PM »

Why doesn't anybody want to talk about this?

Because most sane people find taxes, and especially tax systems, immensely boring. Tongue

 
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dead0man
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« Reply #5 on: August 06, 2014, 08:45:20 PM »

* $0-50k/year=0%
* $50-150k/year=1%
* $150-250k/year=5%
* $250-400k/year=40%
* $400+k/year=67%
I could get behind this and I think most "regular" folk would too.  It will never ever happen because those $400k/year folks have too much pull.  I don't know a good way around that other than education for the  lower earners, but we're too busy being outraged at what the other side did over some thing or another that doesn't really mean sh**t.
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Middle-aged Europe
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« Reply #6 on: August 07, 2014, 03:17:37 AM »

Well, according to Gerard Depardieu, Russia has the best tax system.
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Oakvale
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« Reply #7 on: August 07, 2014, 03:35:22 AM »

Norway isn't proof of much except the fairly unsurprising conclusion that oil money will allow you to finance a ridiculously generous welfare state for a few years.
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