Originally posted by SteveM Ignoring the comments about medicine, socialism and the like......there are other places on the forum for that, but as far as buying Pentax products goes...isn't it a wash? I understand how VAT or sales tax could impact the cost, but what about the hidden tax rates which are high in the US? Doesn't that ultimately get passed onto the consumer? Would those not find their way into the cost of Pentax gear?
When combining both federal and average local (i.e. State) corp tax rates, US and Canada raise revenue on the corporate side.....
Greece - 20%
Ireland - 12.5%
Iceland - 20%
Netherlands - 25%
Canada - 27.6%
US - 39.2%
That is true, but corporations of sufficient size pay very little in taxes. There are a lot of tricks, such as incorporating in Delaware where the taxes are very low. Loopholes, deductions, tax-credits, fewer benefits and lower wages are also advantages to US businesses. Google is just one of many corporations to take advantage of the "Double Irish" tax evasion scam, and GE paid 0% in federal taxes in 2010. Corporations in other countries might do the same, I know they do in the UK, but I am unaware of others.
Google 2.4% Rate Shows How $60 Billion Lost to Tax Loopholes - Bloomberg
I had a colleague who, as a contractor, incorporated himself and had the company we worked for pay him corp to corp. He wrote off everything and he said he paid about $5k in taxes per year.
Last edited by kenafein; 04-27-2012 at 06:54 AM.