Thursday, October 18, 2007

Your Taxes and Mine

Here's a fine and simple chart-- part of TAG's occasional look at financial items -- that shows where U.S. taxes fall in relation to other countries on the globe (and let's hear it for the Netherlands) ....

Thank God we're running a large deficit. Otherwise our taxes would be higher, no?And I wish for you enough income that you have to pay taxes.

8 comments:

Anonymous said...

lets hear it for a 40% tax in the Netherlands?!??!?

-and thats just the median tax, its more if you make an above average salary. meanwhile 10% of the residents in the Netherlands claim to live in poverty, their culture is being diluted from the crush of immigrants, and the taxes just keep on coming! including proposals to tax the elderly's pensions.

2 truths:
the grass is always greener and an economy can't be summed up with one chart.

Anonymous said...

Thank God we're running a large deficit. Otherwise our taxes would be higher, no?

It's like we've just run up the bill on one giant credit card. Someday that piper must be paid.

Between the falling dollar and foreigners dumping US financial assets, maybe the piper's starting to collect right now. :^(

Steve Hulett said...

lets hear it for a 40% tax in the Netherlands?!??!?

Ah. The Netherlands tax bite has declined, if the stats are to be believed. That's the reason for the remark.

Of course, a more interesting chart would be government spending as a percentage of GDP. The U.S. would be farther up the chart for that one...

If I were a financial advisor (I'm not), my advice would be to sink your cash into commodities and hard assets, also foreign stocks. Because we'll be paying down our trade deficit and government deficit by inflating the currency.

(I'm old enough to remember the last round, in the sevenites and early eighties.)

John Locke said...

I really don't like discussing politics here since I love animation and value Steve's contribution to the artform, both in his past at Disney and now for the guild, but...

The amount of debt owned has to be viewed in relations to what it was versus what the nations GDP is. Right now the dept we have is less than it was twenty years ago. And it's going down. The American Economy is the envy of the world and what we don't need is to make the tax rates any higher. Then the piper would come calling... on everyone.

Love your perspective on the industry Steve, we may disagree on politics but thanks for the blog and your posts. Particularly the stuff about Disney itself. Keep up the good work.

Anonymous said...

The Netherlands is the only country listed where the median tax has decreased since the 70's. Still higher than the U.S., yes, but it's lower than it was. I think that's the point being made here.

Anonymous said...

With bush in the white house, and his tax rebates for the extremely wealthy, the economy is doing worse than it has since the 20's. Cutting taxes does NOT always work (nor does RAISING them). But in this case it's been a catastrophic failure. Shameful, really. Americans should be willing to raise taxes to pay for the (so called) FAILED "war on terrorism." Right now it's being put on shakey credit cards so far into the future it's scary.

minxie Mouse said...

That is a very funny statement anonymous. I suppose you think 911 was an inside job as well? Sigh. Let's stick to animation guys, that way when we're referring to Looney Tunes we will know were talking about cartoon characters instead of comment posters.

Steve Hulett said...

The amount of debt owned has to be viewed in relations to what it was versus what the nations GDP is. Right now the dept we have is less than it was twenty years ago.

Actually, as a % of GDP it's higher than twenty years ago, but lower than when Truman handed off to Ike.

Currently it's nosing upward. But it's far lower than when Roosevelt was our wartime Prez ('44-'45.)

For a fine, non-partisan chart, use the link below.


http://optimist123.com/optimist/2005/01/national_debt_b.html

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