Trump returns to false tax claim that U.S is the highest taxed country in the world

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sanfordandson
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Trump returns to false tax claim that U.S is the highest taxed country in the world

Postby sanfordandson » Wed Sep 06, 2017 9:52 am

https://www.yahoo.com/news/trump-return ... 22160.html

As part of a push for tax reform, President Trump bemoaned that the United States is the most heavily taxed nation on Earth.

That’s not true.

Trump is traveling to North Dakota to deliver a speech Wednesday afternoon on the importance of streamlining the tax code and easing the burden of taxes on citizens and businesses. In an early morning tweet, he promoted this trip and promised that under his administration the U.S. would no longer be “the highest taxed nation in the world.”


This statement is completely false. According to 2015 data from the Organization for Economic Co-Operation and Development (OECD), taxation accounted for 26.4 percent of the United States’ gross domestic product (GDP). This is lower than the average for the 35 nations in the OECD (34.3 percent) and in some cases far lower than comparable countries (45.5 percent in France, for instance).


Moron in chief.... #-o

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Re: Trump returns to false tax claim that U.S is the highest taxed country in the world

Postby engineczar » Wed Sep 06, 2017 10:06 am

sanfordandson wrote:https://www.yahoo.com/news/trump-returns-false-tax-claim-pushes-reform-130522160.html

As part of a push for tax reform, President Trump bemoaned that the United States is the most heavily taxed nation on Earth.

That’s not true.

Trump is traveling to North Dakota to deliver a speech Wednesday afternoon on the importance of streamlining the tax code and easing the burden of taxes on citizens and businesses. In an early morning tweet, he promoted this trip and promised that under his administration the U.S. would no longer be “the highest taxed nation in the world.”


This statement is completely false. According to 2015 data from the Organization for Economic Co-Operation and Development (OECD), taxation accounted for 26.4 percent of the United States’ gross domestic product (GDP). This is lower than the average for the 35 nations in the OECD (34.3 percent) and in some cases far lower than comparable countries (45.5 percent in France, for instance).


Moron in chief.... #-o


so what is the US corporate tax rate percentage-wise compared to the rest of the world?

https://en.wikipedia.org/wiki/List_of_c ... _tax_rates

Okay so we're #2 behind Cameroon =D> =D> =D>


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Re: Trump returns to false tax claim that U.S is the highest taxed country in the world

Postby sanfordandson » Wed Sep 06, 2017 10:30 am

engineczar wrote:so what is the US corporate tax rate percentage-wise compared to the rest of the world?

https://en.wikipedia.org/wiki/List_of_c ... _tax_rates

Okay so we're #2 behind Cameroon =D> =D> =D>



Good job cherry picking data.... =D>

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Re: Trump returns to false tax claim that U.S is the highest taxed country in the world

Postby sanfordandson » Wed Sep 06, 2017 10:33 am

looks like we stand at 66th worldwide...

https://en.wikipedia.org/wiki/List_of_c ... _GDP_ratio

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Re: Trump returns to false tax claim that U.S is the highest taxed country in the world

Postby engineczar » Wed Sep 06, 2017 10:41 am

sanfordandson wrote:looks like we stand at 66th worldwide...

https://en.wikipedia.org/wiki/List_of_c ... _GDP_ratio


Good job cherry picking that one as well =D> =D> =D>

I'm sure the company paying a 35% tax rate really gives a hoot about the GDP ratio

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Re: Trump returns to false tax claim that U.S is the highest taxed country in the world

Postby sanfordandson » Wed Sep 06, 2017 11:03 am

engineczar wrote:
sanfordandson wrote:looks like we stand at 66th worldwide...

https://en.wikipedia.org/wiki/List_of_c ... _GDP_ratio


Good job cherry picking that one as well =D> =D> =D>

I'm sure the company paying a 35% tax rate really gives a hoot about the GDP ratio


Oh and check out how far down the list we are for personal taxes....crazy what some people get taxed at around the world.

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Re: Trump returns to false tax claim that U.S is the highest taxed country in the world

Postby engineczar » Wed Sep 06, 2017 11:14 am

sanfordandson wrote:Oh and check out how far down the list we are for personal taxes....crazy what some people get taxed at around the world.


Socialism isn't cheap

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Re: Trump returns to false tax claim that U.S is the highest taxed country in the world

Postby David Redszus » Wed Sep 06, 2017 11:20 am

The taxes paid by Americans depends on who you are and where you live.
If you own stocks, the corporate tax rate is 35%. And if you sell them for a profit, the capital gains tax is another 15-17%.

Now we have some other taxes to pay.
Federal income tax
State income tax
State and/or city sales tax
Property tax
Personal property tax
Federal excise tax
License and permit taxes
Estate tax

Since several taxes will vary by state, tax rates will differ.

But collectively, no other country comes close to the US in TOTAL taxes paid.

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Re: Trump returns to false tax claim that U.S is the highest taxed country in the world

Postby sanfordandson » Wed Sep 06, 2017 11:25 am

David Redszus wrote:
But collectively, no other country comes close to the US in TOTAL taxes paid.


That is a lie..we stand at 66th world wide in collective taxed to gdp. The number that matters. [-X

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Re: Trump returns to false tax claim that U.S is the highest taxed country in the world

Postby mk e » Wed Sep 06, 2017 2:28 pm

engineczar wrote:
Good job cherry picking that one as well =D> =D> =D>

I'm sure the company paying a 35% tax rate really gives a hoot about the GDP ratio


Basically no one pays that. Just like no one actually pays the 35 (Or whatever it is) personal tax......its all about the deductions and effective rate. Things can certainly be done better, but looking only at the base rate is lying....remember Rump paid 0%in the leaked return so you know that he knows he's lying
Mark
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Re: Trump returns to false tax claim that U.S is the highest taxed country in the world

Postby engineczar » Wed Sep 06, 2017 6:41 pm

mk e wrote:
engineczar wrote:
Good job cherry picking that one as well =D> =D> =D>

I'm sure the company paying a 35% tax rate really gives a hoot about the GDP ratio


Basically no one pays that. Just like no one actually pays the 35 (Or whatever it is) personal tax......its all about the deductions and effective rate. Things can certainly be done better, but looking only at the base rate is lying....remember Rump paid 0%in the leaked return so you know that he knows he's lying


So other countries don't have loopholes in their tax codes? There's a reason that companies move to foreign countries and it's not just cheap labor.

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Re: Trump returns to false tax claim that U.S is the highest taxed country in the world

Postby sanfordandson » Wed Sep 06, 2017 6:45 pm

engineczar wrote:So other countries don't have loopholes in their tax codes? There's a reason that companies move to foreign countries and it's not just cheap labor.



Lemme guess...you think saving corporations money will suddenly become a windfall of cash for the average joe.... :lol: #-o

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Re: Trump returns to false tax claim that U.S is the highest taxed country in the world

Postby David Redszus » Wed Sep 06, 2017 7:03 pm

sanfordandson wrote:
engineczar wrote:So other countries don't have loopholes in their tax codes? There's a reason that companies move to foreign countries and it's not just cheap labor.



Lemme guess...you think saving corporations money will suddenly become a windfall of cash for the average joe.... :lol: #-o

The idea of a reduced corporate tax is to bring back the billions in profits stashed overseas to help expand operations in the US.
Reduced corporate taxes also allows more dividend to be paid to investors, further stimulating the economy.

It becomes rather obvious that leftist socialists have no clue as how our economy actually works. You guys think the money comes from government.

Tax deductions that socialists like to call loopholes are quite the opposite. They are incentives that were deliberately inserted into the tax code to stimulate various segments of the economy. Congress put them in there for a very good reason, get it?

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Re: Trump returns to false tax claim that U.S is the highest taxed country in the world

Postby David Redszus » Wed Sep 06, 2017 7:09 pm

...remember Rump paid 0%in the leaked return so you know that he knows he's lying

Now look at who is lying. The leaked Trump tax returns indicated he paid more in taxes in one year than you will ever earn in a lifetime. He probably paid more in taxes than the entire senate did.

"Before being elected President, Mr. Trump was one of the most successful businessmen in the world with a responsibility to his company, his family and his employees to pay no more tax than legally required. That being said, Mr. Trump paid $38 million dollars even after taking into account large scale depreciation for construction, on an income of more than $150 million dollars, as well as paying tens of millions of dollars in other taxes such as sales and excise taxes and employment taxes and this illegally published return proves just that. Despite this substantial income figure and tax paid, it is totally illegal to steal and publish tax returns. The dishonest media can continue to make this part of their agenda, while the President will focus on his, which includes tax reform that will benefit all Americans."


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