4 ms·
Isn’t this just another example of what you’re replying to? UK’s VAT sounds appallingly high to American ears too, but it isn’t really meaningful to compare a s
by mokus 7y ago
Isn’t this just another example of what you’re replying to? UK’s VAT sounds appallingly high to American ears too, but it isn’t really meaningful to compare a single type of tax in isolation.
- walshemj 7y agoThe max council tax on say a 10 million pound mansion is around £4k - which from chats with some one living in one of the cheaper states is less than a basic 4 bed house.
- mattkrause 7y agoRight, but other taxes make up for it. Sales tax in many states is between 5-10 percent; the UK VAT is 20%. The top income tax bracket in the UK is a bit higher (45%) than in the US (37%) and the National Insurance Contributions are often larger than FICA (etc). The UK also has (e.g.) a TV tax, which the US doesn't.
- walshemj 7y agoLooking at headline levels doesn't always work especially if your middle class, Share options are taxed much less harshly you get pension tax relief at your effective rate. we don't have to pay some one to do our taxes either.