i think USA and EU are gonna have 100% taxation

all trends confirm that...EU is already on path of 80-90% taxation

USA also has close 80% taxes,if you combine them all...

can someone explain how economy will work then

i will explain how this works..

some guy is engineer i n private corporation..he gets some 7000 per month salary..the company's account department deducts everything as taxes and the money go directly to various govt departments and private corporations..the engineer gets vouchers for food,entertainment,medicines etc

everything gets voucharised..real money becomes extinct

In Greece is is already happening for freelancers. Their excuse is that they are trying in that way to get tax evaders but any human being above 5 years old knows this is a childish excuse since this is only to make the righteous pay more since the tax evaders will continue hiding their income...

USA is already privately held corporation..every little thing is already taxed and i n few years,when usa reaches 100% taxation and govt can no longer collect taxes,they will implement electronic cash and vouchers

productivity will go down to zero and usa will mostly survive on imports

pretty soon,all those imports will go to china and russia and usa will see poverty

? the highest rate in the UK is 45% back in the 1950s it was near 90% please explain how you can define the now as worse than the 1950s?

and even the highest rate (45% for those earning +£150K) isn't 45% over the whole amount, the first £11k is tax free, the next £31K is taxed at 20%, the next £107k at 40% with each £1 over £150k being taxed at 45%..

then you have to pile the allowances into it all, if you pay for something through your salary it can be wholly or partially tax free for employer and employee (pension payments are known as salary sacrifice)

You get a great big bonus and stick it in your pension pot you'll pay lower taxes, other examples are payments for childcare, health and dental insurance.

And to be honest given the complexity of the system in place there is no way it is going to change any time soon..

Yap, no Money communism, serving the State rich fascists.

thanks for real input

but confiscating salary wont work as there will never be those many productive jobs to start with

all the economics depends on value addition

if job adds no value to a product,taxing it would do nothing


it is like USSR where all non productive jobs like party appartchtiks ,kgb thugs,prison guards,hired govt killers,worthless bureaucrats were paid more than workers working in coal mines,factories


in the end,the elite commies could not sustain the delusion

not possible in the UK there are too many things that are historic that attract no tax for various reasons, the King being in a generous mood and makes all the miners in a specific region not liable for tax forever.. and there is no way those laws can be changed today.. that example was the Free Miners of Dean who where instrumental in capturing Berwick on Tweed for King Edward in the 13th century.. the only change to that free mining law came in 2010 when they defined it as archaic to only allow men as freeminers, now women can become freeminers too..

in 1950s,UK was recovering from war which it has won and it was poor because of loss of prize colonies..they taxed 90% but very few paid it..

the goal of UK fascist socialists was always 100% taxation..the tax deductions you claim can be removed secretly (this is how modern democracy works in USA-UK)..so 100% taxes is no dream..norway-sweden are doing it already

you are talking about parliamentary procedure to get laws passed...this is 21st century and laws are written by corporations,secret cabals,banksters and get passed in secret in parliament

Sorry one shoe size does not fit all.. what works in one country, like the Nordics not then mean it will work elsewhere.. culture, history etc all plays into this.

You think down the last 1,000 years that the various kings/parliments have not tried to take away the rights of the freeminers or the city or the myriad of other groups who have earned their rights in the last 1,000 years? the establishment has consistently failed.. culturally it is not possible..

nor was it possible to hold the high tax rates for long.. tax tends to be the core of insurrection, uprisings, and revolutions, I do not know a single one in my region that does NOT have objectionable tax rates at it's core, nor one that has not in turn then got all stroppy and invaded London forcing the establishment to do a deal..

In large countries it might be possible, but it is not so easy in the smaller ones..

They do not have the right and they know the outcome when they have tried in the past, do you honestly think no one has tried to removed those rights in the last 1,000 years? and those people where far more brutal than those living today.

Serious question, what makes you think they want to risk the obvious happening today?

You can not get tax if people are broke with no money and they can not get blood from a turnip as they say.

tax is not what they want..they want people who will work for free without fighting revolution

Lets add more to this, in most countries around the world there are various "other" systems of payments in place.. taking my country (England) these range from true local currencies (where a locally printed £1 is equal to £1GBP) to the LETS system of exchange, to time banks (going since the 19th century)

Widening that scope to include Scotland and Northern Ireland the notes they use are technically not legal tender, they are promissory notes as they are printed by local provincial banks rather than by a central bank..

As I hope you can see, a large proportion of the cash floating around the UK is already in promissory rather than legal tender/central bank..

no country can remove a method of payment if the people wish to continuing using it, they will find a way of exchanging goods and services outside of any imposed system, this is human nature.. the Scots retaining their various promissory notes is an example of this..

you bring important point to discussion..but barter is already illegal in uk and chances that these promissory notes will be banned

I really can not comment on the US, they seem to be at a crossroads both in terms of identity and in terms of leadership.. right now they need a strong leader to regain their identity and fix the fractured state of their country, at least that is how it appears to me as an outsider who has family/colleagues in the US.

from what I can see each of the leading candidates take the US in different directions.. so guessing where the US will be in the near term is still anyones guess..

The UK is the same, in or out of the EU.. an out vote could set the ball rolling for a disintegration of the EU as it stands today, maybe a smaller core group might survive, but not unless the group moved to true statehood..

There are far too many ifs to even guess what is going to happen next week.. or even where the true rifts lie in the current political landscape..

is going to be an interesting year ;)

No way will anyone prize those promissory notes from Scots or Irish hands.. what need is there? as long as they are paying taxes central gov doesn't care, nor does it care about bartering as long as the right amount of tax is being paid..

The government steals our income so it would go to the governments not the corporations.

We're not far from that now.

Federal taxes are about 35%. States charge about 5%. Then theres a ton of other taxes:

Sales, gasoline, estate, tobacco, alcohol, property, estate, tolls, the list is almost endless.

Hmm... this information seems to be prophetic.

you dont calculate it like that

..consider your income and how much is left after expenses...the remaining is what you earn and rest of it is taxes

thanks

You have no weapons so when the time comes the people who object will be stacked like cordwood