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In some countries, top income tax rates are low (for example HK 16%, Russia 13%), and you get a decent level of public services (cheap universal healthcare, goo
by FabHK 7y ago
In some countries, top income tax rates are low (for example HK 16%, Russia 13%), and you get a decent level of public services (cheap universal healthcare, good public transport).
In some countries, taxes are high, and you get good public services and a comprehensive social safety net (most of Europe).
The US is exceptional in having high taxes and mediocre (at best) public services (plus a huge army and health care for the elderly - at least something).
- orthoxerox 7y agoThe employer pays a lot of "non-taxes" on top of your gross salary in Russia: social security, healthcare and retirement funds are not funded from your 13% income tax.
- oddx 7y agoJust want to add to @orthoxerox comment that Russia 13% tax often isn't understanded correctly, effective tax rate for wages closer to 45% (while many it components not called taxes).
- FabHK 7y agoThanks for the correction. Then put Russia in the middle category or the last (with the USA), depending on how extensive public services are…