DEEJAYKEG
Am I reading this right? You currently pay THREE percent income tax and the rise would take it to FIVE? Do US workers have to pay any additional income tax to central government on top of that?
The Basic Rate in the UK that everyone pays is 20%, rising to 40% for earnings over £37,400 and 50% on earnings over £150k.
Workers also pay a national insurance tax on top at 11% so everyone says goodbye to 31% of what they earn before they get to spend any of it (and that doesn't include local council taxes that fund local services - variable according to area and size of the house you live in.)
Our main indirect valued-added (sales) tax has just risen to 20%. I filled up with fuel tonight and paid the equivalent of US$ 7.76 per (US) gallon. How does that compare with 'gas' prices over there?
Don't worry... we have plenty of politicians in this country are hell-bent on dragging us down to your tax levels and inferior support services (gov't medical, etc). We'll be there soon. NO sense in trying to bring everyone else UP to better standards, right?
LOL Good Luck, everyone.