32 | USA ECONOMY
REPORT
2011 GDP per capita (purchasing power parity) Country US UK
France Brazil China India
Amount in USD $48,442 $35,494 $34,993 $11,719 $8,466 $3,652
US GDP per capita PPP (USD)
40,000 50,000 60,000
30,000 20,000 10,000
0
Current account balance ($ billions)
Public debt as % of GDP
Inward
Investment ($ billions)
Electricity per capita (watts/p)
Water
per capita (m3/inhabitant/year)
Workforce (millions)
Unemployment % 1550 153.6 9 TAX Rates Tax as percentage of GDP
Income Tax Euro
Company Tax VAT
Below $18,400 $18,400-$42,500 $42,500-$64,500 $64,500-$94,100 $94,100-$264,700
35%
There is no federal value-added tax (VAT) on goods or services.
Capital Gains Tax
Short-term capital gains - taxed at the investor’s ordinary income tax rate
Long term capital gains - 0% for those in the 10% and 15% income tax brackets.
Inheritance Tax Property Transfer Tax Annual Property Tax
15% for those in higher income brackets Exempt
3-5% / 15.3%
Exempt 2.0% 9.1% 15.7% 20.1%
Notes
Excludes contributions for social security – if these were added, taxes and other revenues would amount to circa 22% of GDP
The tax rate paid by those in the upper income
bracket is highly dependent on the ratio of income they earn from capital gains, interest and dividends.
/
Instead, they have a ‘sales tax’, in which rates vary widely by jurisdiction and range from less than 1% to over 10%.
Unlike the VAT, a sales tax is imposed only once, at the time of sale.
Capital gains up to $250,000 ($500,000 if fi led jointly) on real estate used as primary residence are exempt.
N/A /
The amount of tax is determined annually based on the market value of each property on a specifi c date; properties are re-valued periodically.
- 228.4 9.5 212.5 305.4 31.7 8.1 104.7 6 416.6 644.1 795.5 487.6 6.5 9.8 455.5 75.41 6.6 2581 1363 - 689 1169 540.3 631 249 574.3 191.1 389 107 - 683
www.opp-connect.com | DEC/JAN 2012-2013
US 473.4 67.7
EU 32.7 82.5
UK Brazil China India Russia 66.6 79.5 63.5 54.4 280.6 43.5 63 51.6 101.3 8.3
TOURISM Number of inbound tourists (millions)
70 60
50
40 30 20 10 0
The tourism industry is one of the top three largest employers in the US in 29 states – it was responsible for 7.3 million jobs in 2004 – this was to account for 1.19 billion trips in the US for tourists in 2005.
The size and diversity of the country means that tourists of all interests are drawn in.
In 2007, there were 2,462 registered National Historic Landmarks (NHL) recognized by the US government.
As of 2008, the most visited tourist attraction in the US was Times Square, New York City – it attracts circa 35 million visitors yearly.
The US Department of Commerce forecasted that, in 2011, Canadians were top for tourist arrivals with 18,960; Mexicans were close behind with 15,304, while Europeans were the third-highest with 12,632. Tourists in lower numbers included those from Oceania, the Middle East and Africa.
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