BiggerPockets

I'm not sure we aren't already the most taxed society on the planet. From income tax through gas tax, property tax and all the taxes, fees and other charges in between, every dollar you spend and make is subject to so many taxes in between.

Next time you buy a soda from a vending machine, think about the taxes paid all along the line, by all the companies involved in putting that soda in that machine. That dollar soda alone could well have over 50 cents going to pay the taxes required to get it there, and of course, the dollar you spent wasn't untaxed, either.

When some news story talks about high taxes, like the one mentioned, it takes a shot at picking one particular tax, i.e. income tax rate, and saying they are the most taxed. Here in the US, we take a more hidden approach. Tax every dollar, in multiple ways, for every dollar spent, saved or received, and even just for having something, as in a property or use tax. Then nobody can add up the total cost, because there just are to many taxes spread over too many companies and individuals.

The sales tax on that soda, I think, is just a fraction of the taxes already included in the price of that soda.

You're right. And I should shut up and get off the soap box, but, the US leads the world in so many ways, and one of them is extracting money from the masses.

Is it any wonder when consumers slow spending that the first impact is on business, then on government.

Personally I decided we should start a Sovereign Wealth Fund.

Taxes we pay now go into fund, fund invests $$$, gains fund gov.

http://socialize.morningstar.com/NewSocialize/forums/p/237722/2652370.aspx#2652370

Please read and reply preferably in both forums.

Best, Lee

there is a pension plan I know of that invests in private businesses that makes INSANE amounts of money for itself compared to expectations... owning several different high profit businesses is one of the fastest most reliable way to wealth-building possible imo. if it is held in some kind of non-taxable entity the money would just continue to grow.

certainly USA would benefit from real business people in leadership if the right people came forward for it... and never underestimate the influence you could have just by speaking out. now is a great time for creativity in looking at problems and solutions.

one more note - when the US dollar is down it is good for exports. what that means is, for example, the Canadians will come to USA and buy as much as we can because our dollar will go a little farther and we can buy more. because currencies fluctuate... it affects prices in other currencies... we buy more US stuff when it's cheaper and less when it's more expensive, even though the prices may not have changed, the currencies have fluctuated against each other making it cheaper or more expensive for us. a good balance is best.

here's an idea *evil grin* why not create credit for other countries and sell them things they don't need at high retail prices that will decline in value, then they will have to pay interest (after qualifying the customers of course). and also buy high profit investments worldwide (mainly cash producing ones that increase in value), particularly businesses with low overhead and start-up/acquisition costs. might it tip the scales more in our favour if we stopped being the ones spending and started being the ones investing, as a country? lol

The reason we are not as happy as the northern European is because we do pay a lot of taxes, Federal, state , local, property, sales, etc and yet, we don't enjoy that money as tax payers. It goes to other people (entitlement), to defend the world, or fight private wars (Iraq) etc, and bailing out big institutions. When the northern European pay their taxes, they get it back in form of services. They get free health care. Dental care, child care, free quality education, etc, etc. The don't spend a penny on defence (They don't need to) They love their small "flats", their pace of life, the cup of coffee in the morning at the cafe down stairs and the after work drink at the pub. - They are the most progressive nations in the world, an open society which enjoy lowest rate of rape and child abuse. - Yes, they don't have those big TV, the Hummers, and the Mc-mansions but life is good.- For them....

As one who enjoys life, and DOESN"T pay ANY state income tax and almost ZERO income tax every year, I'm not complaining. There are always loopholes to use legally, if you work at it.

That's why they're floating the VAT (Value Added Tax) trial balloon. The Chosed One wants to tax wealth and the VAT is one way to get more taxes out of the wealthy (along with everyone else). Of course, the death tax is another wealth tax that will be coming back in a big way.

Mike

You ever seen the Danish women? You'd be happy as hell to live there, taxes or no taxes.

Rich, you're an inspiration, I want to read your book too.