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Meanwhile the Netherlands has the 51,7% bracket starting at €68,507 per year, which isn't even close to upper class income.

lm28469 7y ago
And yet half the world wants to move to EU countries with high tax rates. It's almost as if the tax rates and the average quality of life were linked.
- gingabriska 7y ago
  EU has better infrastructure and atleast you get something in return of taxes you pay. In India, quality of public services is crap and middle class doesn't receive any benefits from taxes paid.
sn41 7y ago
I'm guessing medicare is free in the Netherlands. India has a public health sector which works only on paper. And its basic education access for the poor has been deteriorating in many of the central/northern states.
- systemtest 7y ago
  Medicare is 6.95% of your income, paid for by your employer. 5.70% if you freelance and are self-employed. Next to that, a year of insurance will cost you €1100 - €2000 with a €385 - €885 deductible. Dental, physiotherapy and certain medicine are not covered.
- another-dave 7y ago
  I'd say that's all the more reason to try and redistribute some of the wealth to the most affected. (Whether the Indian government will effectively collect and use the taxes is another matter, but can appreciate the efforts in a country with such a wide gap between rich/poor) 50 crore == 50 million, so a USD equivalent of $729,550 a year. Would go a long way in India. Can't find reliable figures for wages, but from a quick Google, one site put it at about <$2k a year. Taking that as a rough order of magnitude it would be the equivalent of levying a tax on American earning over $7M per year (if average wages are about ~$20k).
  - gingabriska 7y ago
    The biggest problem is that Indian government taxes middle class who are few and there are many havenots in the country Even if you take away 50% of the money from middle-class, it will not be sufficient to improve the quality of life of the people at bottom. This scheme isn't going to work, it just snatches resources from the ones who can somehow integrate with the global economy and gives to those who have no idea what to do with it.
gingabriska 7y ago
Netherlands is also a tax haven for some with favourable holding company regime, many of my friends have moved there for lowering taxes on group of their companies.

lm28469 7y ago

And yet half the world wants to move to EU countries with high tax rates. It's almost as if the tax rates and the average quality of life were linked.

gingabriska 7y ago
EU has better infrastructure and atleast you get something in return of taxes you pay. In India, quality of public services is crap and middle class doesn't receive any benefits from taxes paid.

sn41 7y ago

I'm guessing medicare is free in the Netherlands. India has a public health sector which works only on paper. And its basic education access for the poor has been deteriorating in many of the central/northern states.

systemtest 7y ago
Medicare is 6.95% of your income, paid for by your employer. 5.70% if you freelance and are self-employed. Next to that, a year of insurance will cost you €1100 - €2000 with a €385 - €885 deductible. Dental, physiotherapy and certain medicine are not covered.
another-dave 7y ago
I'd say that's all the more reason to try and redistribute some of the wealth to the most affected. (Whether the Indian government will effectively collect and use the taxes is another matter, but can appreciate the efforts in a country with such a wide gap between rich/poor) 50 crore == 50 million, so a USD equivalent of $729,550 a year. Would go a long way in India. Can't find reliable figures for wages, but from a quick Google, one site put it at about <$2k a year. Taking that as a rough order of magnitude it would be the equivalent of levying a tax on American earning over $7M per year (if average wages are about ~$20k).
- gingabriska 7y ago
  The biggest problem is that Indian government taxes middle class who are few and there are many havenots in the country Even if you take away 50% of the money from middle-class, it will not be sufficient to improve the quality of life of the people at bottom. This scheme isn't going to work, it just snatches resources from the ones who can somehow integrate with the global economy and gives to those who have no idea what to do with it.

gingabriska 7y ago

Netherlands is also a tax haven for some with favourable holding company regime, many of my friends have moved there for lowering taxes on group of their companies.