Italy’s teetering banks will be Europe’s next crisis

Re:Italy’s teetering banks will be Europe’s next crisis by cdavid on Monday July 11, 2016 @04:41AM (#12069695)

I really doubt you only pay 16 % of taxes in Switzerland. When talking about taxes, especially comparing between countries, you need to be very careful about what you are talking about.

FWIW, income taxes are 40 % for income above ~32k, and the UK are not considered heavily taxed in Europe.

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Re:Italy’s teetering banks will be Europe’s next crisis by oarsinsync on Monday July 11, 2016 @09:16AM (#12070805)

That's actually 40% marginal tax on income over £43,000, not £32,000, if you earn under £100,000. It's only 40% from £32,000 if you earn over £122,000.

https://www.gov.uk/government/publications/rates-and-allowan...

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Re:Italy’s teetering banks will be Europe’s next crisis by cdavid on Monday July 11, 2016 @05:57PM (#12075064)

true, but that already starts to depend on your personal details, which is why comparing countries is hard. For example, while many countries take into account your marital situation when calculating brackets, the UK almost doesn't: it is much better, from a tax perspective, for a household to have 2x 40k earners than 1x 80k earner.

And then of course, you need to compare the services you get for the money the state take from you (e.g. in the UK, state pension is close to nothing so you need to remove 15-20 % of your pre-tax income, and then you need to consider mediocre health system, expensive child care, etc...).

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