Add Social Security taxes and the tax burden quickly advances to more than 60 percent.
"Adding state property and income taxes to the burden, the amount government confiscates could be in the 75 percent range before Americans have a chance to vote Obama out of office in 2014," Corsi wrote. "Are Americans willing to be taxed 75 percent of every dollar earned?"
That is the current tax burden in Scandinavian countries as the table below demonstrates:
"In a five-day work week, will Americans be willing to work four days for the government?" Corsi asked.
He said as Obama moves the U.S. in the direction of becoming a European-style social welfare state, it is important to consider taxation levels typical in Europe.
Corsi noted that even high levels of taxation are not sufficient in Europe to prevent debt levels from rising to crisis proportions, as has been seen in Greece and is looming on the horizon in Portugal, Spain and Italy.
16 comments:
So does any sane individual actually take Corsi seriously? Not to mention Obama has never supported full repeal of the Bush tax cuts (which is a major reason for the projected long-term deficits) and VAT has only been mentioned off-handedly. If you are going to bang on the man, bang on him for whats he's actually doing, instead of chasing ghosts.
Maybe Corsi needs to learn geography before economics.
Only Norway, Denmark and Sweden are Scandinavian countries.
Well if you look at Obama's pattern he causally mentions something and then full speed ahead . I have heard democrats talk about the VAT tax many times and repealing Bush's tax so for you to try and sweep this under the rug as idle chatter is Bull crap . This is his plan socialist America !
"plan for socialist America" shows which side of the aisle this loony belongs to.
9:44 Your the loon or a propagandist if you deny the Socialist plan all of Obama's henchmen are self admitted Communists ! And for your information I'm on the side of the American freedom loving people !
Alex, LOL. Corsi should also learn a little more than that. A president elected in 2008 will be up for election again in 2012, not 2014. Really makes you believe Corsi is a credible source of information, doesn't it?
How do you know when you've beat a progressive liberal ? They look for grammatical errors HAHAHAHAHAHA !
Why hasn't Obama done something about the massive oil spill ?
BHO is a damned liar when he says he won't increase the taxes of anyone making less than $250K per year. He will do exactly that by getting rid of the Bush tax cuts for the evil rich (BTW, when did you ever get a job from a poor person???). If you have children, the $1000 per child tax credit that you currently get is one of those Bush tax cuts he wants to get rid of. Take that away and your taxes will go up.
well 9:53/:59, renewal of the Bush tax cuts for the vast majority of Americans has been talked about quite explicitly by everyone. Too bad you guys are so hell bent on this "socialist" crap, you don't see straight anymore. Face it, to you guys Obama is damned if you do, damned if you don't.
1:31 Are you making a point here ?
Hey, Alex, maybe you need to learn to read text and tables.
He said 75% as shown below.
The countries with 75%+ were the Scandanivian countries.
All those countries have higher debt than USA.
The list of taxes for other countries is misleading if you try to compare U.S. rates to them. You don't mention their "standard deduction" for example.
It's time for a revolution people!
This is the biggest load of crap I have ever seen. There is no way that any one would ever raise taxes to those levels. This would not just be political suicide it would spark a civil war of epic proportions. People in this country need to learn that cutting taxes can be just as bad as raising them. You can’t cut taxes without making the cuts in spending. Bush cut taxes but did not cut the crap out of the government spending. Democrats raise taxes but they also rise spending beyond what the budget allows. Guys what I am saying is if you want social security and other stuff like that we have all got to pay your part in taxes. Right now for every dollar the government receives in tax we borrow 35cents from other countries like china. Don’t buy your meal and put the desert on the credit card it just will not work.
What you don't understand is that when you lower taxes people spend and start business's which lead to more taxes going to the Government . It worked when Bush did it and Reagan it's win win !
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