Today is Tax Day in the US, the day when tax returns and payments have to be made by midnight tonight. It's always a hoopla. It doesn't matter how long people have had, there is that pathetic scramble to beat the deadline. It got me thinking about the whole issue of tax....There is nothing pleasant about paying taxes. And it the more we pay the less pleasant if seems. To be sure, those of us who earn more expect that we will have a greater burden. But whastever we pay, we want value for money. And today many are seriously questioning what we get for what we pay.
IN some parts of the world taxes have been traditionally high, but then there has been sterling provision of education, health care and social services. In other places, the taxes are low and you are expected to pay for everything else.
Which is the best ? that depends on where you stand politically and I make no comment about that.
What I do know is that the current mega bailouts to be paid for someday and somehow. And we will ALL be paying more in taxes in the years ahead. Whether through high sin taxes on liquor and tobacco or directly through income.
Don't be fooled dear friends. This crises is neither pain free now nor in the future. We had a very good party. The hangover will last longer.
Now then – over to you..... are YOU happy with the taxes you pay and the value you get. Here are some that came via @richardquest on twitter – add more of your own.
JonTrygveH@richardquest in norway, it's not unusual to pay 50%incometax. We ALSO have a few % fortunetax. Bad for the retired without much income!
mcsilly@richardquest I make some$ online.Don't live more than 4months in any country(=no benefits in paying taxes)! Should I pay to random country?
bizzz2bizzz@richardquest here in ESTONIA we all) pay way too much in taxes and that I don't ever feel like I get my money's worth from the federal,
mihai_1@richardquest Germany again! I'll get married next week; I'll pay 500 eur less, she'll pay 300 less on taxes. +800 on our net income! Cool
squawkbox@richardquest Countries with higher rates of tax appear to have a much better quality of life (Denmark, Sweden etc.) maybe its not so bad!
robohamster@richardquest I would pay more tax in th UK if they would renationalise our 19th Century public transport system!
winterwhitefox@richardquest I live in one of the smallest states in the USA and i pay $8,000.00 bucks a year on property taxes,no,the house/land isnt big
klaaserikzimmer@richardquest I´m German, recently moved to argentina. NOW I esteem the value I get in Germany for my taxes which actually is really good.
danmsonda@richardquest In the Netherlands, we pay our taxes happily and the services we get from government in return are just superb!
Rikki_ND@richardquest Taxes are necessary & I don't think we pay too much in taxes right now. Small price to pay for freedoms we enjoy in the US
rahulvarshneya@richardquest taxes in india, there's scope for a big reduction!
milhealth@richardquest You are kidding right? (:-)
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