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

Re:Italy’s teetering banks will be Europe’s next crisis by adventured on Monday July 11, 2016 @05:16AM (#12069827)

Basically like this (just an example):

$100,000 income at 20% tax = $20,000

$35,000 income at 40% tax = $14,000

Switzerland's median income is between 2.5 and 3 times that of Italy. They have a smaller black market economy than Italy, so they're likely deriving a higher actual share of taxation out of it.

Further, the 16% referenced isn't complete. If you cap out the federal income tax in Switzerland, it's more likely you're paying a total of closer to 25-30% in income taxes (depending on what part of the country you're in), between federal, cantonal and municipal income taxes.

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Re:Italy’s teetering banks will be Europe’s next crisis by sievebrain on Monday July 11, 2016 @11:44AM (#12071811)

This. There are several income taxes.

Also there are lots of hidden costs. Health insurance and mandatory unemployment insurance etc. A lot of stuff is pushed onto the private sector but made mandatory, so you have to buy it.

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