Political Ocean's 11

[Hurlshort]

Corporate taxes make some sense within reason because we still need to fund consumer protection agencies. I don't want borax in my food.

[Ben No.3]

 

I don't know about your EU taxes, are you also subject to a marginal tax rate or do you pay 103% on the whole thing?

 

I guess it varies by country

Let me summarize this way:

 

1. My company made a profit which I must pay tax.

2. I pay myself from that money and I need to pay tax + healthcare + social.

3. When I buy something from the money left I need to pay VAT (value added tax) on everything I buy.

4. Some underage schmuck who lives with his parents tells me I don't pay enough.

 

“leftists only appeal to emotions, not facts.”

-the same guy who just listed all of the taxes he has to pay in a matter purely aimed at creating the impression, i.e. emotion, of overtaxation and responds to criticism with nothing but ad hominem.

[ShadySands]

How did the last corporate repatriation tax amnesty work out? Genuinely curious

 

I have right of center sites telling me it was the bee's knees and left of center ones telling me the opposite

Edited November 2, 2017 by ShadySands

[Elerond]

Simplified version of Finnish income taxation for single individual without kids 

 

Brackets for progressive state income tax

 

 

Addition to state income tax everybody pays flat municipality tax 16.5-23% depending on municipality where individual lives

 
And progressive Public broadcasting tax

 
Some examples (all examples use my home municipality's tax rate 19.5%):
Tax rate for income of 10000€ is 0% with basic deductions, meaning total taxes and tax-like charges for the entire year 0.0€.
Tax rate for income of 15000€ is 2.5% with basic deductions, meaning total taxes and tax-like charges for the entire year 366.21€.
Tax rate for income of 20000€ is 8.5% with basic deductions, meaning total taxes and tax-like charges for the entire year 1626.43€.
Tax rate for income of 35000€ is 18.5% with basic deductions, meaning total taxes and tax-like charges for the entire year 6417.01€.
Tax rate for income of 60000€ is 27.5% with basic deductions, meaning total taxes and tax-like charges for the entire year 16353.41€.
Tax rate for income of 100000€ is 35.0% with basic deductions, meaning total taxes and tax-like charges for the entire year 34534.88€.
Tax rate for income of 350000€ is 44.5% with basic deductions, meaning total taxes and tax-like charges for the entire year 155075.43€.
Tax rate for income of 5000000€ is 48% with basic deductions, meaning total taxes and tax-like charges for the entire year 2389324.87€.

 

Basic deductions consists of things like employment pension contributions and unemployment insurance contributions, which are seen as income deductions when it comes to paying taxes.

 

VAT in Finland is currently for most goods 24%, 14% for foods and 10% for books, magazines, cultural services and medicine. Alcohol and fuels and some other things have special product specific extra tax. 

Edited November 2, 2017 by Elerond

[Gfted1]

Im surprised the food and medicine tax is that high. Here in Illinois:

 

Illinois’ sales tax rate is 6.25 percent on general merchandise and 1 percent on qualifying foods, drugs, and medical appliances. The tax rate may be higher in some areas because some local jurisdictions are allowed to impose their own taxes.

[Elerond]

 

Im surprised the food and medicine tax is that high. Here in Illinois:

 

Illinois’ sales tax rate is 6.25 percent on general merchandise and 1 percent on qualifying foods, drugs, and medical appliances. The tax rate may be higher in some areas because some local jurisdictions are allowed to impose their own taxes.

 

 

Food used to be 17%, but because EU VAT code dictates that there can be only 3 different VAT levels, so that 17% was dropped and food products were moved in lower VAT tier, so it is seen as tax cut, although people are aware that food here is expensive compared to other countries and people complain about it lot, but it don't usually effect on how they vote.

 

In medicine nearly all prescription drugs are compensated by government, so that 10% is really true for drugs that you can buy without prescription.

[Amentep]

Closed for Length.

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