And it's worked so very well in Europe. Health care for all? Why not?
We can just raise taxes like the Europeans have done, and tax everyone the max.
Everyone that is, that earns money and pays taxes?
And then still end up bankrupt someday? Let's use Greece as the model
for future American prosperity.
http://en.wikipedia.org/wiki/Tax_rates_of_Europe
The tax rates shown below are mostly the tax that people earning 100,000.00 and more would pay:
United Kingdom Income Tax: 50%
VAT: 17.5% TOTAL: 67.5%
France
Income Tax: 40%
VAT:
19.6% TOTAL: 59.6%
Greece
Income Tax: 40%
VAT: 25% TOTAL: 65%
Spain
Income Tax: 45% VAT: 16%
TOTAL: 61%
Portugal
Income Tax: 42%
VAT: 20% TOTAL: 62%
Sweden
Income Tax: 55%
VAT: 25%
TOTAL: 80%
Norway
Income Tax: 54.3%
VAT: 25% TOTAL: 79.3%
Netherlands
Income Tax: 52%
VAT: 19% TOTAL: 71%
Denmark
Income Tax: 58%
VAT:
25% TOTAL: 83%
Finland
Income Tax: 53%
VAT: 22% TOTAL: 75%
The VAT tax in the table is the national sales tax that Europeans pay. Stay
tuned because that is exactly what you can expect to see the administration
proposing after the fall elections. The initial percentage in the United States
isn't going to be anywhere near the outrageous numbers you now see in Europe
.
The current outrageous numbers in Europe didn't start out as outrageous
either. They started out as minuscule - right around the 1% or 2% where they
will start out in the United States . Magically, however, they ran up over the
years to where they are now. Expect the same thing here.
It's always the same cry. Equalize income. Spread the wealth to the poor
(whoever they are). Level the economic playing field. Accomplish that and
everything will be rosy.
It's time to take a hard look at
reality.
Greece is a perfect example. Despite the socialism system that has
ruled this country for decades, with a 65% tax rate, they are drowning in public
debt, would have defaulted without hundreds of billions in bailout money from
the EU, and still. . . 20% of their population lives in poverty. What has all
that socialism money bought, besides ultimate power for the politicians running
the show?
Tuesday, August 7, 2012
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