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But in Denmark, one pays high taxes which, among other things, go towards subsidising higher education: https://en.wikipedia.org/wiki/Taxation_in_Denmark https
by deepakg 9y ago
But in Denmark, one pays high taxes which, among other things, go towards subsidising higher education:
https://en.wikipedia.org/wiki/Taxation_in_Denmark https://en.wikipedia.org/wiki/Taxation_in_Denmark
Under the Danish tax system, it is possible for a high-wage earner to pay up to 51.5% of their total income after gross tax, giving a total of 57% of total income.
- rubicon33 9y agoDoes that include property tax, sales tax, and smaller (but still impactful) taxes like alcohol tax? The actual number, as a percentage of your income, that you pay in the US is very likely around - if not higher - than 50%.
- lsc 9y agoIf you are paying 50% of your income as taxes in the US, you are making enough money that you shouldn't be complaining about college being expensive. And... there's a weird hump, because capital gains are taxed at a much lower rate. in that bracket, you have the very top end of those who work as employees, and small business owners who end up having to pay income tax on their profits. Much above that and most of your income is usually in the form of capital gains, and thus taxed less.
- eggy 9y agoI take @rubicon33's point that even if you make $40,000 a year, and your income tax works out to be 20-25%, you still pay 8.875% in NY for sales tax, and the other taxes. Looking at it that way, you pay over 35% or more when all is said and done. You are taxed on previously taxed income.
- prostoalex 9y agoDo their taxes go towards paying college presidents a median salary of $438,000 http://blog.credit.com/2015/12/10-u-s-college-presidents-with-the-highest-salaries-132324/ http://blog.credit.com/2015/12/10-u-s-college-presidents-wit... or are the Danish administrative officials willing to accept lower rates?