Re:Norweigan oil fund
by Majromax on Thursday August 01, 2019 @10:54AM
(#20584235)
> I think anything below 20% in taxes simply means a country's public functions will suffer.
Honestly, the biggest difference between nations isn't so much in income/payroll taxes, but in the VAT. The US simply doesn't have one at the federal level, and state sales taxes are typically in the neighbourhood of 6% (https://en.wikipedia.org/wiki/Sales_taxes_in_the_United_Stat...).
Re:Norweigan oil fund
by weberc2 on Friday August 02, 2019 @09:26AM
(#20592726)
I don’t know what that graph is showing but it’s not the sales tax I pay at the register. In Illinois it’s usually 9-11% if I recall correctly. I’m in Chicago, so maybe the local sales tax is much higher than the state average?
Honestly, the biggest difference between nations isn't so much in income/payroll taxes, but in the VAT. The US simply doesn't have one at the federal level, and state sales taxes are typically in the neighbourhood of 6% (https://en.wikipedia.org/wiki/Sales_taxes_in_the_United_Stat...).