US Tax System?

Discussion in 'News & Current Affairs' started by Ian, Jul 21, 2011.

  1. Ian

    Ian Administrator

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    There's been a lot in the news recently about the US and the debt ceiling, tax rises etc... but something I've not understood is how the tax system works over there?

    How much does the average person get taxed?

    In the UK, every household has to pay "council tax", which I'd guess is just over £1000 for most houses.

    There's then employment taxes which are in bands (10%, 20%, 40% and 50%) plus national insurance, so a salary of £30,000 would end up getting about £23,000 after tax.

    Then, we've got VAT on the sales of most items, which is 20%. There are lots of other types of tax (like capital gains, inheritance, etc...) - but these are the main ones.

    Is it a similar setup in the US? When I've been there, the sales tax seems to vary depending on what I buy and which state - so I've never understood that. It also seems to be added on to the price of something on top of the price shown? In the UK, the price you see is the price inc VAT in nearly all cases.

    Am I right in thinking that there's a property tax too?
     
    Ian, Jul 21, 2011
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  2. Ian

    darthweb VIP Member

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    darthweb, Jul 21, 2011
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  3. Ian

    Nickweb Resident Filmaker Moderator

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    I think the point was to start a discussion, but ok that was kinda funny
     
    Nickweb, Jul 21, 2011
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  4. Ian

    Ian Administrator

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    Haha, I knew that was going to make an appearance in this thread ;)
     
    Ian, Jul 21, 2011
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  5. Ian

    Maurice Bloody good bloke VIP Member

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    I get the impression that the US tax system doesn't work hence the US of A being broke.
     
    Maurice, Jul 21, 2011
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  6. Ian

    Zeus Moderator

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    :rofl2::rofl2::rofl2::rofl2::rofl2::rofl2::rofl2:



    This is totally untrue. The US tax system works perfectly. We're not broke.


    Wait what?



    We're broke?


    When did this happen?


    OK. Nevermind. The tax system is broke. :thumb:


    All joking aside, the tax system sounds a lot like Ian described. We pay our property tax and sales tax and income is taxed in bands. State taxes are set by each state individually and that money goes to the state and not the federal government.

    We're broke right now because we have a Democrat in office. The Democrats all think that no matter what the problem is, you can solve the problem by throwing money at it. If that didn't work, throw more money at it. Dems also think that the government should control everything. That's why there was a housing market bail out, and that's why there was a bailout handed to the auto makers. Now the federal government has more power in both of those places.

    It's a cycle, Democrats take office and start taking over state programs and throwing money away. Then republicans, who think the govt should be minimalistic, come in and give federal programs back to the states, make budget cuts to limit federal spending and give tax cuts to the people to enforce the budget cuts.

    We are also still paying for 2 wars and obligated ourselves into a 3rd one (some of the people in charge need to lay off the Call of Duty games).

    Overall I don't blame the tax system, I blame the politicians and Mr. President himself.

    I don't think any economy could have withstood the cowboy known as George W Bush followed by the big baller known Barack Obama.
     
    Zeus, Jul 22, 2011
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  7. Ian

    Maurice Bloody good bloke VIP Member

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    I can see we are gonna have to take the US back into British control:lol2:lol2

    The first thing to do would be increase the tax on tea...............
     
    Maurice, Jul 22, 2011
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  8. Ian

    Zeus Moderator

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    Not yet, wait til re-elections. If Obama gets a 2nd term, or if they put another Dem in office then around the 3rd or 4th year of that term would be the time to strike. I left out the part in my previous post about how the Republicans build up the military and spend around 85% of the national budget on it.

    The 1st things Dems do to get their money to throw at problems is start closing bases and reducing the military. After 2 Dem terms, that is when the US is the most vulnerable to a military strike. Perfect example, 9/11/2001 was one year into Bush's term. He had just taken over for Clinton (Democrat) who had been in office for 8 years.
     
    Zeus, Jul 22, 2011
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