Thursday, December 1, 2011

We were introduced to Pat on Thanksgiving Day.  We are thankful that Lauren chooses good friends.

Current European tax Rates    United  Kingdom     Income Tax:   50%   
    VAT:   17.5%   TOTAL:   67.5%

   Income Tax:   40%   
    VAT:   19.6%   TOTAL:   59.6%

   Income Tax:   40%   
    VAT:   25%      TOTAL:   65%

   Income Tax:  45%   
    VAT:  16%      TOTAL:   61%

   Income Tax:   42%   
    VAT:   20%      TOTAL:   62%

   Income Tax:   55%   
    VAT:   25%      TOTAL:   80%

   Income Tax:   54.3%   
    VAT:   25%      TOTAL:   79.3%

   Income Tax:   52%   
    VAT:   19%      TOTAL:   71%

   I! ncome Tax:   58%   
    VAT:   25%      TOTAL:   83%

   Income Tax:   53%   
    VAT:   22%      TOTAL:   75%

If you've started to wonder what the real costs of socialism are going to be -  once the full program in these United States hits your wallet, take a look at the table.  As you digest these  mind-boggling figures, keep in mind that in spite of these astronomical tax rates, these countries are still not financing their social welfare programs exclusively from tax revenues!  They are deeply mired in public debt of  gargantuan proportions.  Greece has reached the point where its debt is so huge it is in imminent danger of  defaulting.  That is the reason the European economic community has intervened to bail them out.  If you're  following the financial news, you know Spain and Portugal are  right behind Greece .

The United States is now heading  right down the same path.  The VAT tax in the table is the  national sales tax that Europeans pay.  Stay tuned because that is exactly what you can expect to see the administration proposing after the fall elections.  The initial percentage in the United States isn't going to be anywhere near the outrageous numbers you now see in Europe.  Guess what. the current outrageous numbers in Europe didn't start out as  outrageous either.  They started out as minuscule - right  around the 1% or 2% where they will start out in the United  States.  Magically, however, they ran up over the years to  where they are now.  Expect the same thing here.

It  is the very notion that with hard work and perseverance, anybody  can get ahead economically here in the USA.  Do you think  that can ever happen with tax rates between 60% and 80%?   Think again.  With the government taking that percentage of  your money,! your life will be exactly like life in Europe...  You will never be able to buy a home.  You will  never buy a car.  You will never send your children to college.  Let's not shuffle the battle cry of the  socialists under the rug either.  It's always the same  cry.  Equalize income.  Spread the wealth to the poor (whoever they are).  Level the economic playing  field.  Accomplish that and everything will be  rosy.

It's time to take a really hard look at  reality.  Greece is a perfect example.  Despite the  socialism system that has ruled this country for decades, with a  65% tax rate, they are drowning in public debt, would have  defaulted without hundreds of billions in bailout money from the  EU, and still. . .  20% of their population lives in  poverty.  What has all that socialism money bought, besides  ultimate power for the politicians running the show?  Do  you think these people are "free"?  They're not. 
They  are slaves to their economic  "system."

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