Pay for same $100k Job: USA vs EU
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Exactly, they are the same. They also only apply to individuals, not businesses. Consider it a anti consumerist tax which is higher on stuff like alcohol but lower on essential things like groceries. VAT also does not apply on rent or utilities.
They are fucked up in Finland too, nowhere in the Nordic countries do you pay 50% income tax. That's complete bullshit. Every country has 0% income tax up to a certain level. Sweden are the biggest assholes here allowing you to earn only $2000/yr tax free, Norway allow you to earn up to $50 000 tax free per year.
The next rate of income tax is municipality and county tax, this obviously varies between municipality and county. But is usually around 30%. This covers tax funded education, tax funded, healthcare, mass transit, social security, public parks and all of that stuff.
Once you earn more than $60 000/year you start to pay capital gains tax to the national government. All this means in reality is basically that if you plan to make a shitload of money, just become a consultant and you don't have to pay these taxes. Or it means that you limit your work hours to 40hr/weeks, because why would you work more if you don't get paid more.
Below $60 000/yr will get you very far in the Nordic countries. If you own a big house with two cars in a double garage your utility bills for that is likely no more than $500/mo. Healthy eco groceries and other essentials for a family of 4 is around $500/mo. The rest you can spend on luxuries.
This rabbi just hates Finland for some reason.
You don't pay capital gains tax on income, anywhere. I know the Finnish are special, but even they can't be that retarded to tax income as if it was capital.
Norway allows you to earn up to $50k tax free? Lol, that is some insane bullshit. Maybe $5k.
Nanny state countries with progressive taxation do indeed tax you 50% on parts of your income.
Absolutely do not believe. Just googling average rent in some Scandinavian cities, and it's in the order of $1k for two bedroom apartments, nevermind a home.
Checking on price comparison cites, groceries in Finland is just 20% less expensive than somewhere like LA.
You got it wrong, part of those "muh 50%" is the included capital gains tax. You only pay that if you make more than around $60 000 yearly. Anything lower means lower tax.
This is why people don't work longer than 40 hour weeks in the Nordic countries, because there's no gain in that. I know because I live there. For most workers your income tax is 25-35% depending on country, county and municipality.
$1k for a two bedroom apartment? the hell did you look? a 5 star hotel with room service and all inclusive? I paid $300/mo for a two bedroom apartment. $500/mo gets you a house. Assuming you choose to rent. But that's retarded since owning is just as cheap.
Some brand new apartments could cost more, but that's also retarded because why would you wanna live in a apartment where just 3m from your window is the next building and surrounded by libtards? Commie blocks are much nicer inside and has plenty of space between them full of parks with big trees.
All prices in Scandinavia includes 25% VAT, remove that for comparison.
I looked up Helsinki.
Where in scandinavia are you paying $500/m for a house?
That's irrelevant to the point. From whatever money you get after all taxes, you have to buy stuff, and the stuff you're buying is hardly cheaper than in one of the most expensive cities in America.
Where is the income tax 50%? I know no such place in Sweden. Here you can see them all, highest is 34.30% and that's a very small municipality with just a few thousand people who all expect plenty of services.
Over roughly $70 000 you pay "marginalskatt", a form of capital gains tax straight to the national government. That is 55%, and anyone who make that much knows how to avoid paying it anyway, only retards and government simps pays it.
Finland and Norway are terrible examples for grocery prices because they both import a lot. It's cheaper in Sweden, but it's gone up here too because of inflation. Norwegians often cross the border because it's cheaper to buy stuff in Sweden.
I never paid more than $200/mo in utilities for a house I own, paid $5000 when I bought it, most houses here don't cost more than $30 000. And since I installed solar panels and got rid of the electric bills I'm actually making money from living here. Basically rent free.
First of all, just googling "highest tax bracket sweden" I get 52% (Municipal + County). Did you just count the minicipal tax?
Secondly, you can add around 10%-15% to that. You have to count the portion that the employer pays, that's just income tax by another name.
So yeah, not 50%, more like 60%, sorry my bad.
And those combined for 100k just so happened to total exactly 25% in the US and 50% in the EU? Yeah right.
Just admit you eyeballed some numbers in a word doc for the post, don't double down on the bullshit. It doesn't matter that your auditing is bad unless you're an actual accountant, in which case god help your clients.
Only place in Europe where you pay over 50% income tax is if you have a high wage job in the Nordic countries, so called margin tax. Average income tax in the Nordic countries are around 30%, and every other country is lower.
He also picked the highest VAT, 25%, also from the Nordics, all of EU is lower than that, and not all items charge VAT, there's reduced vat for essential groceries, all the way down to 6%, and that's in Sweden which has the highest VAT. Rent and utilities also don't have VAT.
He pretends that EU has both sales tax and VAT, which is not the case, sales tax is the US version of VAT, EU does not have any sales tax.
Look closer and you'll notice that all of his math is wrong too, for instance he "forgot" the sales tax for the US, but doubled it for EU.
He also assume that living cost in EU is almost $2000/mo, while in the us you could cover all your living costs by only $666/mo. 🤡🤡🤡
21% VAT here so not far off.
He use a mix of the Nordic countries to get the most expensive metric possible for every tax, then apply margin tax (extra tax for high income workers) on a low wage wage. The whole meme is retarded.