06-08-2017, 05:43 PM
(06-08-2017, 10:10 AM)Benton Wrote: An old boss of my posted that last night. He also mentioned that California is proposing another tax increase despite economic growth.
CA revenues seem to be pretty highly correlated with the stock markets. Also pretty clear that a tax rate that works in one state probably isn't right for another due to differences in the business environment (states with no income taxes - TX is highly dependent on oil/energy, NV and FL on tourism...TN I don't really know).
I do know if you compare overall tax burdens on the average American vs. the average European, it tends to be significantly lower across the board. Social taxes to fund entitlement programs, I believe the average European pays something like 22% (vs. about 14.4% in the US). Most of the EU has a VAT in excess of 20%, as well (vs. average state sales tax here of maybe around 7-8%).
--------------------------------------------------------
