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My understanding is that unlike the US they actually have get social benefits like healthcare and university for their tax dollars. https://taxsummaries.pwc.co

My understanding is that unlike the US they actually have get social benefits like healthcare and university for their tax dollars. https://taxsummaries.pwc.com/iceland/individual/taxes-on-personal-income https://taxsummaries.pwc.com/iceland/individual/taxes-on-per... And according to Wikipedia Iceland has a lower marginal tax rate than the US. https://en.m.wikipedia.org/wiki/List_of_countries_by_tax_rates https://en.m.wikipedia.org/wiki/List_of_countries_by_tax_rat...

newZWhoDis 3y ago
>And according to Wikipedia Iceland has a lower marginal tax rate than the US. Does that “marginal tax rate” in the US include payroll tax? If not it is inaccurate. Employees pay payroll tax, even if they don’t see it taken out on their paychecks.
- WalterBright 3y ago
  > Employees pay payroll tax, even if they don’t see it taken out on their paychecks. Yes, the so-called "employers' contribution" is a fine piece of propaganda.
paddw 3y ago
In the U.S corporations have lots of ways to avoid tax, not sure about Iceland.
- WalterBright 3y ago
  The best way for a US corporation to avoid tax is to lose money.
paul7986 3y ago
And free geothermal bathhouses to enjoy and socialize after work like the Romans did. The Blue and or Sky Lagoons (disney world of spas) for me werent that great when compared to meeting/conversing with locals at the local and free bathhouses (not free for tourist though; $10).
gumballindie 3y ago
One needs to factor in extra taxes - 25% vat, vehicle reg taxes (in denmark) of around 85% to 150% of the car’s value, and so on. These countries are cool but still not justifying extreme taxation.
- paddim8 3y ago
  It's not extreme. It's used to provide services for us. Denmarks taxes on cars are high even compared to other nordic countries, so I'm not sure why you're bringing that up. Most people don't even need a car there.
  - yownie 3y ago
    >Most people don't even need a car there. Do you mean Denmark or Iceland, the latter a car is a necessity.
    - runarberg 3y ago
      Not OP, but... > vehicle reg taxes (in denmark) of around 85% to 150% of the car’s value So Denmark probably.
- deleted 3y ago
  [deleted]

newZWhoDis 3y ago

>And according to Wikipedia Iceland has a lower marginal tax rate than the US. Does that “marginal tax rate” in the US include payroll tax? If not it is inaccurate. Employees pay payroll tax, even if they don’t see it taken out on their paychecks.

WalterBright 3y ago
> Employees pay payroll tax, even if they don’t see it taken out on their paychecks. Yes, the so-called "employers' contribution" is a fine piece of propaganda.

paddw 3y ago

In the U.S corporations have lots of ways to avoid tax, not sure about Iceland.

WalterBright 3y ago
The best way for a US corporation to avoid tax is to lose money.

paul7986 3y ago

And free geothermal bathhouses to enjoy and socialize after work like the Romans did. The Blue and or Sky Lagoons (disney world of spas) for me werent that great when compared to meeting/conversing with locals at the local and free bathhouses (not free for tourist though; $10).

gumballindie 3y ago

One needs to factor in extra taxes - 25% vat, vehicle reg taxes (in denmark) of around 85% to 150% of the car’s value, and so on. These countries are cool but still not justifying extreme taxation.

paddim8 3y ago
It's not extreme. It's used to provide services for us. Denmarks taxes on cars are high even compared to other nordic countries, so I'm not sure why you're bringing that up. Most people don't even need a car there.
- yownie 3y ago
  >Most people don't even need a car there. Do you mean Denmark or Iceland, the latter a car is a necessity.
  - runarberg 3y ago
    Not OP, but... > vehicle reg taxes (in denmark) of around 85% to 150% of the car’s value So Denmark probably.
deleted 3y ago
[deleted]