Overall Tax Burden and Government Spending

[WhiskeyGirl]

There is a real interesting chart in this article.  In the highly socialized countries, taxes are much greater than in the US.

We also again include the Overall Government Spending results by each of the governments. Many governments are continuing the trend to reduce taxes, but the harder task of reducing spending is still to be accomplished. Only one-half of the countries reduced spending from the prior year. The solution to deficits is not to reverse the trend in tax reform, at least for those on the top of the Table and Index, but to control spending growth while the economic growth increase the absolute amount of tax revenue.

http://www.forbes.com/global/2006/0522/032a.html

Why not let economic growth fuel increases in tax revenue?

I don't think the chart takes into concideration tax debts.  I wonder where the US ranks in national/government debt compared to other countries?

[WhiskeyGirl]

Tax Misery & Reform Index
Jack Anderson 05.22.06

Asia continues to look attractive in our annual ranking of tax burden. And even China's bum score may be deceiving.

We show Germany from the perspective of Berlin--where state and local taxes are a significant factor. (Same in the U.S.--note the difference between New York and Texas.) A top-earning Berlin entrepreneur is now looking at 14 additional points of Misery.

As with China, you have to consider special provisions for multinationals and expatriates. Here France has also been making concessions, but elsewhere in Europe this flexibility is being limited. This only makes seemingly high-tax China, which gives the foreign direct investor a ten-year tax holiday, more of a magnet for international capital.

http://www.forbes.com/global/2006/0522/032.html

How can the US compete with a ten-year tax holiday?  A $3,000 per worker credit?

Apples vs. Oranges, and the apples are tax free.