Quote:
Originally Posted by Cappy
This is actually a crazy stat and many economists have harped on this as a big reason for US deficit spending.
While many Dems want to import wealth taxes or higher taxes on high earners, like European countries, many economist point out that, to be like Europe, the US would need to substantially increase taxes on the middle/low classes.
Many nordic countries starting income tax is over 40%; plus big VATs
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As a taxi driver I pay around 36% here in Helsinki, that includes county/city taxes which are more than half of the whole. Would be roughly the same in Denmark and Sweden.
Lowest income tax (up to 15k EUR/year) would be about 23-31% depending on where exactly you live.
Income taxes are really not as high here as people think.
Additionally, there's a ton of tax loopholes for people in the high income brackets, just like everywhere else.