The United States has the highest corporate tax rate in the world.

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  #46  
Old 01-27-2015, 09:55 AM
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Sandtrap328 Sandtrap328 is offline
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Originally Posted by dbussone View Post
C-let's put aside the issue of CEO comp for a bit. What we all need to realize is that the current corporate tax structure encourages companies to move production overseas, and retain profits there as well. GE is a perfect example; they have moved their production of light bulbs, locomotives, radiology equipment, etc to China. Along with movement of production went the jobs here. I realize this is an oversimplification that involves far more: wages, unions, cost of materials, etc. However, the basic issue is as I stated - taxes.
The basic issue is not taxes! It is the ultra cheap labor, very lax safety regulations, no unions, as well as low taxes. in other words - GREED.
  #47  
Old 01-27-2015, 11:06 PM
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Originally Posted by dotti105 View Post
Hubby and I were surprised when we visited Australia a couple of years ago.

They have a very strong economy. Their banks pay 5% interest on saving. Their minimum wage is =$18.00/hr in US dollars. There is no tipping because they pay a living wage. What a concept!!!

They have a very low unemployment rate despite issues with illegal aliens from SE Asia.

They have had universal, single payer health care with which they seem very happy. It it like our medicare, but for everyone. Some older people also get private insurance as their risks increase.

We were asked so many questions about why health care is such an issue here, why our economy is in such bad shape. The people we met had as many questions about our government as we did about theirs. We learned a lot. Our eyes were opened on many issues.

Their country runs with a surplus!! Not a deficit!!

We asked if their taxes were high. They did not think so. They said that the corporations make up for any of the nations needs that income tax did not cover. They were actually upset when we were there because their national surplus had dipped!

When young couples start a family they get a $5,000 "baby bonus" for each baby. It is cash on a debit card for baby expenses. That's for each baby. But they have very low welfare rolls.

It was like being dropped onto another planet. The standard of living is high. homelessness was low.

I do believe that we live in the best country in the world.

But I do believe that we have let our elected officials take us far off track. The rich get richer, the poor get poorer and the middle class shrinks. Corporate America DOES make all the rules. They have the elected officials from both parties in their back pockets.

You won't see tax reform in our lifetimes. Because there is too much at risk for our professional politicians. The corporate tax cuts will continue and the rich will continue to get rich and the poor continue to get poorer. We have set our government up with career politicians that do not care about you or me or the real future of our country.

This is not what our founding fathers envisioned. They wanted ordinary people to serve the nation, then go back to their real career after serving. I do not know the answers to the problems we have today. But contrasting our nation with Australia was stark and very difficult to swallow. We need term limits and politicians who serve the people not the special interests.

We are the lucky ones. Our grandkids will be the ones to really have to deal with these realities.
That trip to Australia was very eye opening to us.
I know I have been in several foreign countries and my wife or I needed to to see a doctor and received very reasonable cost effective healthcare. One time was in Australia and it was under $20 to see a doctor and a receive a prescription and I was tourist. Other times were in China, Turkey, and Peru. I hesitate to venture to guess what a tourist would pay here out of pocket for similar care.
  #48  
Old 01-27-2015, 11:41 PM
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Thanks CFrance for your contributions to this thread. Some people only see what they want to see, not what is actually there to be seen! You do great research! Not just this thread, but overall.
Your contributions are appreciated!
  #49  
Old 01-28-2015, 08:19 AM
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Originally Posted by CFrance View Post
I believe you are misunderstanding Australia's definition of "wellfare." What the term means in Australia is what is provided to each citizen as a result of taxes paid. And in this article it's not that they pay no tax. It's that they pay no net tax. So the benefits conferred on some Ausralians equal an amount that is greater than the tax paid by the percentage stated in the article.

I have a son and DIL who live and work in Australia. They pay very high taxes. But their benefits are very good. Australia is definitely a nanny state, but my son and DIL are happy with the goods and services available to them for the taxes they pay.

And here's an article you may be interested in regarding Americans and taxes: 60 Percent of Households Now Receive More in Transfer Income Than they Pay in Taxes | Tax Foundation

From the article you quoted:
On average, Australian families will pay $12,935 in income tax this year but receive $9515 in benefits a net yearly contribution to the public purse of just $3424.
The figures include welfare paid in pensions, family benefits, jobless support and childcare support.
Interesting information, C. Thanks, I did not know this. As usual, an informed and intelligent post
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