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VAT (sales tax) is much higher in Europe (20%+), though it won’t bring the total tax to 80%. On the other hand, taxes in the US are much generally much more pro
by xyzzyz 5y ago
VAT (sales tax) is much higher in Europe (20%+), though it won’t bring the total tax to 80%. On the other hand, taxes in the US are much generally much more progressive than in Europe. In the States, the wealthy pay large majority of the taxes, while in Europe, these are covered mostly by middle class. Therefore, for median wage earners in Europe, effective tax rate is much higher than in US.
- oblio 5y agoThe initial comment was about top earners, not median earners. And my guess is that it wasn't about VAT or sales tax, but about income tax + healthcare + social security.