Greece to offer flat tax

[CRFSaver]

Re: Greece to offer flat tax

I agree with what you say Pennywise. I agree with beign involved as you are. Knowing why they arent succeeding. What needs to change. I agree people dont discipline their children. It is a major problem I have now adays. My room mates are a typical example. They wont even discipline their dog and it scares the heck out of me that they really want children.

As for food I always brought a packed lunch to school. Only thing that was provided was milk (which my parents paid for) unless you brought a juice pack or soda. So I have no idea what is being eaten at school.

[VJW]

Re: Greece to offer flat tax

UPDATE:


Bruce,

You were mentioning upthread that some of the Eastern European countries were adopting a ‘Flat Tax’. Well, according to the “Economist Magazine”, Estonia now has their ‘Flat Tax’ up to 24% on all forms of income.

This is exactly what I warned about. More than three-quarters of American taxpayers currently pay less than 5% of their income in federal income taxes. Can you imagine what a five-fold increase in their tax bite would mean to Middle-class families, let alone the Working Poor ?

The ‘Flat Tax’ is an incredibly bad unworkable idea.

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[Bruce Wayne]

Re: Greece to offer flat tax

In Britain you pay taxes of 24% as soon as you earn around 15,000 per year. That rises to over 40% when your income goes over £35,000 a year. We're not talking wealthy people here at all.

You should appreciate how lucky you are in America

[VJW]

Re: Greece to offer flat tax

You’re conflating income tax rate BRACKETS with PERCENTAGE of one’s income.

America currently has the 15% bracket (with an encompassing 10% virtual bracket), the 25% bracket, the 28% bracket, the 33% bracket, and the 35% bracket. Almost 80% of Americans are below the 15% bracket, but with exemptions, credits, etc., they pay less than 5% of their income in federal income tax.

However, one begins paying income tax on the first $7,300 of income.

35,000 pounds is about 63,000 dollars. In America, you would be in the 25% bracket.

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