TAX AND DEBT

TAX AND DEBT


REVEALED.

“The total level of debt in the west relative to GDP is higher than it has ever been.”

Financial Times.

In the USA, between 2006 and 2012, two thirds of companies paid no federal tax.

Many Companies Paid No Federal Income Tax / Most U.S. corporations paid nothing in federal income taxes.

In the USA, large companies that were profitable paid a federal tax of 14% on their net income between 2008 and 2012.

Large Profitable US Corporations Paid Tax of 14%.

If Donald Trump reduces taxes further, the US government’s level of debt will increase.

The 7 big questions Republicans have to answer on tax reform

Indonesians.
Indonesia’s tax amnesty, which began in July 2016, ended in March 2017.
More than 800,000 tax evaders declared 350 billion US dollars in assets previously hidden from the tax men.
This is the equivalent of 40% of Indonesia’s GDP.

Indonesia tax amnesty nets $330 bln.

Meanwhile, the Socialist Prime Minister of Portugal, Antonio Costa, has managed to cut Portugal’s budget deficit by more than half to just under 2.1% of GDP.
At the same time, the Socialist Prime Minister of Portugal has managed to restore state pensions, wages and working hours to pre bail-out levels.

Portugal cuts its fiscal deficit while raising pensions and wages / Costa confounds critics as Portuguese economy holds course.

Conclusion – Things go better when the rich pay a bit more tax.

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