[snakeoil]

[https://www.cnbc.com/2017/07/26/trump-c ... world.html

In terms of how much individuals pay, Pew Research Center also reports that taxes in the U.S. are comparatively "low." Its research shows that "in all cases, the U.S. was below the 39-nation average — in some cases, well below," when it comes to taxes.

"A single, childless American making the average wage in 2014 ($50,099), for instance, paid 24.8 percent of her gross income in federal income tax and payroll taxes, versus the 39-country average of 27.3 percent. Such a person living in Belgium, by contrast, would pay 42.3 percent of her gross income," writes Pew.

"An American married couple, both working (one at the average wage, one at two-thirds of it) and with two kids, paid 19.4 percent of their gross income in taxes; a similar Belgian family would have paid nearly double that rate, or 38.3 percent."

Please read chart. BTW...This from a business news channel. Now everyone jump onthose six words.

Wow! Does this mean that Trump is lying to us? Amazing!

[snakeoil]

https://taxfoundation.org/corporate-inc ... orld-2016/" onclick="window.open(this.href);return false;

It is well known that the United States has the highest corporate income tax rate among the 35 industrialized nations of the Organisation for Economic Co-operation and Development (OECD).[1] However, it is less well known how the United States stacks up against countries throughout the entire world. Expanding the sample of countries and tax jurisdictions to 188, the U.S.’s corporate tax rate of almost 39 percent is the third highest in the world, lower only than the United Arab Emirates’ rate of 55 percent and Puerto Rico’s rate of 39 percent. The U.S. tax rate is 16.4 percentage points higher than the worldwide average of 22.5 percent and a little more than 9 percentage points higher than the worldwide GDP-weighted average of 29.5 percent. Over the past ten years, the average worldwide tax rate has been declining, pushing the United States farther from the norm.
The United States Has the Third Highest Corporate Tax Rate among 188 Nations

The top marginal corporate tax rate among the 188 countries surveyed was the United Arab Emirates,[2] which has a top rate of 55 percent (Table 1).[3] The United States, with a combined top marginal tax rate of 38.9 percent (consisting of the federal tax rate of 35 percent plus the average tax rate among the states), has the third highest corporate income tax rate in the world, slightly behind Puerto Rico. In contrast, the average across all 188 countries is 22.5 percent, or 29.5 percent weighted by gross domestic product (GDP).[4]

So there is room for improvement.

[snakeoil]

I'm not saying that I agree with these facts but here they are.

a. Estate Tax...Our founding fathers were terrified that we would evolve into a monarchy or an elite class. Their solution was to tax the estate of citizens who had passed on and left a sizable estate. In their minds, this would ensure that massive wealth would not accumulate in certain families thereby creating an elite class.

b. Higher taxes on the rich...Before Reagan the tax rate peaked at 70%. This was not to penalize the rich but to encourage them to invest their excess wealth in their businesses to increase jobs and to support the workings of the government. The theory was that you could only spend so much therefore it gave you a way to increase wealth and avoid depleting your nest egg through taxes.

[sillydaddy]

Anderson Cooper of CNN comes across as a Trump hater on TV..

Off the record....says he likes President Trump's ideas on tax reform...
Could be because he's heir to the Vanderbilt fortune.... :o :lol:

[johnforbes]

A lot of Democrats don't pay any federal tax, or not much.

Thus, the argument to cut their taxes leaves them cold.