EU VAT-Rates Compared

The value added tax raises the price on consumer goods. Almost all EU countries had a higher VAT-rate in 2012 compared to 2000. Perhaps surprisingly, Hungary has the highest VAT-rate, followed by Scandinavian Denmark and Sweden. Cyprus, Portugal, Greece, Spain and Romania particularly saw their VAT rising in the last twelve years. Except for Cyprus, all of these countries have now a higher rate than the average for the EU of 21 percent.

Reuters

Should The US Raise the Top Marginal Tax Rate?

According to many economists and the IMF the United States needs to raise taxes (accompanying budget cuts!) to attain a sustainable budget in the long run. If the U.S. will stick to the current fiscal policy national debt will increase to 350% in 250.  Raising taxes is one of the hardest decisions for a politician because it could very well mean you won't be re-elected. Especially in the Untied States the debate about raising taxes is a very heated one.

This infographic from Gplus is about raising the top marginal tax rate for top earning individuals in the United States. It shows arguments for and against a tax increase, together with historical data on the subject.

Gplus

Greek Debt/GDP: Only 22% In 1980

This graph shows the government debt to GDP ratio for Greece. As you see the debt was mostly accumulated in the eighties. I will sum up some of the events which are of most importance this this graph:

• In the 1980's spending as a percentage of GDP rose by 19 points from 24% in 1980 to 43% in 1988, while revenue rose by only 7 points form 20% to 27%.
• In the beginning of the 90's Greece was in recession twice (1990 and 1993). The deficit and the borrowing cost both spiked to over 10%. 
• Starting in 1993 the government started a policy of fiscal consolidation to get permission to join the Euro-Zone. The deficit shrank to 3% of GDP and the borrowing costs fell to just 6% in 2000.
• When Greece was allowed to enter the Euro-Zone the 'fiscal discipline' faded away and budget deficits began to rise again. This was not followed by higher borrowing yields though, which may had something to do with the distorting of the numbers by the Greek government.

Greek Default Watch

United States 2011 Revenues and Expenditures Compared

In this post the United States Federal Budget of 2011 is depicted. On the left side you can see what the revenues consist of and on the right side this is shown for the expenditures. You can see that there is a 1.6 trillion dollars deficit in the 2011 budget.

Der Spiegel

The 'PIIGS'-States versus the Core-States in the United States

This picture compares states in the United States based on their taxes paid to the federal government versus the incomes received from the federal government. It shows the United States fiscal transfers. If a state receives more income than it pays taxes to the federal government it has a deficit, if it receives less income than it pays taxes it has a surplus.

In the graph for each state the surpluses and deficits have been added up over the last 20 years. The surplus or deficit over 20 years for each state is viewed as a percentage of 2009 GDP.

As you can see there are 20-surplus states and 30-deficit states.

The Economist

Huge Inforgraphic: The Working World

Among other things the following economic indicators are compared: Tax rates, Retirement Age, Vacation Days, Per capita income, Number of hours worked per week:

Click on the picture!

Social Cast

EU Corporate Tax Rates

In this graph you can see the current corporate tax rates for the countries in the European Union.

Source: Adam Smith