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Wealth inequality in Europe is seldom discussed unfortunately. Everyone focuses on income inequality to demonize well earners and justify taxing them more to pa
by Rinzler89 2y ago
Wealth inequality in Europe is seldom discussed unfortunately. Everyone focuses on income inequality to demonize well earners and justify taxing them more to pay for the mistakes of politicians and the sinking welfare system, but ignores all that untaxed wealth stashed away in the hands of a few.
Average salary in Austria after taxes is something like 2k/month yet the country is full of flashy cars and houses costs from several hundreds of thousands to millions of Euros. How is that possible? You have mediocre EU salaries at San Diego house prices. Rents are reasonable but I don't see how people are gonna be able to also afford rent from retirement pensions.
- dukeyukey 2y ago> Average salary in Austria after taxes is something like 2k/month No, average salary in Austria after taxes is about €3000, or about $3,700 after exchange rates and PPP. Which is less than the US, not hardly a poor place by world standards. Combine that with the long-term wealth you get from being an early-to-industrialise European country that was on the capitalist side on the Cold War, and you've got your explanation.