US National Debt Is Just Fine

The debt ceiling debate continues but it is really a silly conversation.  The capital structure of virtually every fortune 500 company includes the use of debt even although most make a profit.  The capital structure of the US is no different (except that governments are not supposed to make profits). Growing the balance sheet is good! Think of it this way, McDonalds, GE and Coke all issue debt and alot of it. Do you think they issued more debt this year than last year?  Last century? Of course they did and the United States is no different.  Debt is not the problem, as long as our GDP continues to rise along with it.  The US deficit is the problem but that's another story.


Individual Tax Rates Per Country

Here in the USA, many of us are starting the daunting task of doing our taxes.  While we all whine and complain about taxes, bottom line is that everyone pays them, worldwide.  Below is a list of the maximum tax rates per country then the GST (goods and services tax) since we all buy goods.  These are approximate since there are sometimes additional local taxes.  Property taxes are not included since this is a very local tax, to be sure the USA is among the lowest in this category.

Australia 46% + 10%
Canada 55% + 5%
China 45% + 17%
France 66% + 7%
Israel 52% + 18%
Japan 50% + 5%
Singapore 20% + 7%
South Africa 40% + 14%
UK 45% + 20%
USA 40% + 11% (varies locally)

A full list along with detail available HERE.  Interesting to note that the USA is second only to Singapore on this list and one of the lowest in the world.