Quote:
Originally posted by SexySarah
I still must disagree that the tax system in the EU causes lazyness (which is basically what you're implying).
It's like everywhere - people who want to succeed, work harder at it.
There's lazy people everywhere - it's just in the EU they're not quite so fucked as in other places if they don't have health insurance...etc.
And I disagree on your 'EU is fucked unless it changes' comment - does the EU have a debt level of 70% of it's GDP? The US does (and that doesn't include local government which takes the debt level to around 14 trillion which is 140% of GDP approx.)
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You forget that the USA pays for Europe's defense thereby saving each country in Europe an additional 5% of GDP.
THe USA can effectively take on much greater debt because we grow at a mucher faster rate with little inflation. We also don't tax capital and income at the same rate which is reinvested immediately into the economy producing more return and a higher tax receipts.
You may want to check your debt stats for the USA. You are including government backed mortgage securities gauranteed but not owed by the government.