US is one of two countries in the world that taxes its non-inhabitant citizens on worldwide earning, in the same way also rates as habitants; the other is Eritrea. The U.S. Supreme Court maintained the constitutionality of imposition of such a tax in the case of Cook v. Tait.
Wages taxes are enforced by the federal or all state governments. These include Social Security or Medicare taxes imposed on both employers and employees, at a combined rate of 15.3% (13.3% for 2011 also 2012). Social Security tax applies only to the 1st $106,800 of wages in 2009 through 2011. However, advantages are just accrued on the first $106,800 of wages. Employers must withstand income taxes on wages. An unemployment tax also specific another picks up apply to employers. Salary taxes have dramatically raised as a share of federal revenue since the 1950s, while corporate earning taxes have fallen as a part of earning. (Company profits have not fallen as a share of GDP).
Wealth taxes are imposed by most local governments and many particural objective authorities based on the fair market value of wealth. School and other authorities are oftentimes separately governed, and enforce separate taxes. Wealth tax is usually imposed only on realty, though some jurisdictions tax some forms of business wealth. Treasure tax rules and rates differ widely with annual median rates ranging from 0.2% to 1.9% of a wealth’s value depending on the state.