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The govt takes 4 times the profit in taxes

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Common practice

In reply to: The govt takes 4 times the profit in taxes

in many other western nations.

Mark

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That's a typical American thing.

In reply to: The govt takes 4 times the profit in taxes

It shows why gas is so ridiculously cheap in the USA.

Today's figures for 1 liter of normal gas (euro 1.73)
- VAT: 16%
- taxes (excise): 41.5%
- all costs and profit: 42.5%

The overall profit for the whole production and distribution chain might be 2%. That means total taxes (16% + 41.5%) are about 30 times the profit.
Aren't you glad you live in the USA, and not in a country with a 'conservative' governement like we have?

Kees

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we don't even tax liquor at such a high rate

In reply to: The govt takes 4 times the profit in taxes

I suspect tax on cigarettes is equal to that on gasoline though.

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With total public enpenditures ...

In reply to: we don't even tax liquor at such a high rate

being, say, 30% of the GPB it's quite imaginable the total taxes are much higher than the total of profits (not: revenue) of companies. Imagine those profits were higher, say 40%. That would leave only 30% of the total GBP for net wages for all the citizens. You wouldn't want to live in such a country.

Kees

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