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Comparing to Denmark, which has way better employee laws than the US, is weird regardless because of the difference in unemployment benefits and general safety
by Tehnix 9y ago
Comparing to Denmark, which has way better employee laws than the US, is weird regardless because of the difference in unemployment benefits and general safety net there is in Denmark. Free hospitals, free education, etc.
- briandear 9y ago"Free?" The personal income tax rate averaged 60.45% in Denmark from 1995-2018. Those are some of the most expensive "free" hospitals and universities I've ever heard of.
- Tehnix 9y agoIf you want that view, then I guess nothing is ever free then, and it's a pointless word, so why even bother? Also, the tax is more complicated than simply throwing out 60.45%. It goes: - From 0 - 50,000 you pay 0% tax - Everything above you first pay 8% work market tax, and then from the leftover you pay - the amount you earned above 50,000 - 498,900 is 37% - the amount you earn above 489,900 is taxed 52,2% So you don't pay 60.45% of the full amount. Never. You pay progressively as you go up. Monthly that'll go something like, deduct 5,000 form your paycheck, deduct 8% of the remaining amount, and then 38% of the remaining amount of that. Now, what you have left is the remaining amount + the 5,000 tax free. And of course a bit more of the amount if you go into the top tax bracket.