3 ms·

I live in Iceland. ETR is about 40% for me but I'm in a high tax bracket. None of the Scandinavian countries even have 60% marginal tax rate. EDIT: My MTR is ~

• kmonsen 4y ago
  Same in Norway, max marginal rate caps out at almost 50%: https://www.skatteetaten.no/en/rates/maximum-effective-marginal-tax-rates/ https://www.skatteetaten.no/en/rates/maximum-effective-margi...
  • erosenbe0 4y ago
    In a high-tax US state like California the top marginal income tax is about 47%. This covers no health care unless you are over 65, disabled, or are below the medicaid threshold, which is low. There is also a lower rate om capital gains such as stock or real estate, sales (like a VAT), gas tax, vehicle tax, utility tax, phone tax, cable internet tax, etc. Plus, of course, employers are paying some extra payroll taxes per employee.
    • kmonsen 4y ago
      I lived in the UK, Norway, Switzerland and US (NYC and Bay Area). Except Switzerland I did not really notice a big tax change for any of the others. Sure in UK and Norway healthcare and University is free, but healthcare is provided by my employer in the states. So for me it is a wash. But hey in the US I get to pay for the largest army on the planet. What I would say is that in the US my taxes feel the most "unfair" since my tax rate is sort of the max. Richer people have ways of avoiding taxes and poorer people pay less tax.
      • erosenbe0 4y ago
        This is a good criticism. High wage-earners in the US like a hardworking GP doctor pay the biggest effective tax rates.