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Without knowing anything about it, I'm inclined to think that it's a combination of Finland's offshore oil drilling income of at least $5.23 billion and their t
by zackmorris 7y ago
Without knowing anything about it, I'm inclined to think that it's a combination of Finland's offshore oil drilling income of at least $5.23 billion and their tax rate of 51.6%:
https://oec.world/en/profile/country/fin/ https://oec.world/en/profile/country/fin/
https://tradingeconomics.com/finland/personal-income-tax-rate https://tradingeconomics.com/finland/personal-income-tax-rat...
The US has a lower top income tax rate of 37%:
https://www.debt.org/tax/brackets/ https://www.debt.org/tax/brackets/
Other more democratic socialism leaning countries redistribute income tax from the wealthy to fund the needs of the general population, but the US just gives that money to people who are already rich. Supposedly this raises all incomes, but incomes have not risen appreciably since the mid 1970s:
https://economics.stackexchange.com/questions/15558/productivity-vs-real-earnings-in-the-us-what-happened-ca-1974 https://economics.stackexchange.com/questions/15558/producti...
- Ndymium 7y ago> Finland's offshore oil drilling income of at least $5.23 billion Huh? We don't have any sources of oil. We do have oil refineries but not any wells or drilling. You may be thinking of Norway.
- deleted 7y ago[deleted]
- zackmorris 7y agoAh thank you, sorry I thought that all Nordic countries had oil drilling. I stand by my statements on tax policy though.
- bduerst 7y agoYou're misreading the OEC report - Finland exports refined petroleum. They don't do any drilling. Even then it's only 7% of their total exports. You're confusing Finland with Norway and their national fund.