A world without retirement?

Re:A world without retirement? by pm90 on Monday April 03, 2017 @01:20AM (#14020751)

This is probably wayy off topic, but not having met real life earning Norwegians (traveling students don't count): how does it feel to be giving away half of what you earn to the government? I'm trying to phrase this question as blandly as possible; don't mean to be snarky or anything. My own political philosophy has been migrating from something far-right to more center, but this is one issue that does bother me very much...Specifically, the feeling I have is: I worked pretty damn hard to get to a situation where I can make the kind of money I make now, and almost 20% goes away in taxes to the US federal govt. (not including Social Security and Medicare). I was born into a poor family so it seems rather egregious that my hard work, my blood and sweat is ultimately to be used for the benefit of people who are not, well, me.

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Re:A world without retirement? by avenius on Monday April 03, 2017 @02:40AM (#14020995)

Answering as a fellow Norwegian: I gladly pay my taxes - the beneficiaries of these taxes are the community as a whole, including myself. I don't have to worry about going bankrupt if I ever get any serious health issues, for instance. There's also the issue of social security, which not everyone is a fan of. But giving people a decent economic baseline / safety net should mean they e.g. won't have to resort to crime to stay afloat. It may also reduce tensions, although I can't say that for sure (some of my old friends get social security, and they're feeling disenfranchised due to a lack of real opportunities). I get the impression that some people think that taxation is basically money being stolen from them and being given to someone else - isn't that a somewhat gross misunderstanding?

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Re:A world without retirement? by ido on Monday April 03, 2017 @06:12AM (#14021735)

I don't pay 50% tax in Germany but I probably pay more than you.

I don't mind it because:

1. I get great services for my tax money (health services practically free, good transit, good schools, higher education is free to cheap, daycare/kindergarten is so cheap as to be basically free). I was paying a bit less taxes when we lived in Israel but ALL public services were worse in a greater margin than the difference in taxes.

I recently had to go through some fairly major health related treatment and both the treatment and substantial hospital stay were practically free of charge, I didn't have to think about the financial aspect of it at all (despite being self-employed).

2. even tho i worked hard to get to where I am I still enjoyed a great deal of privilege: i grew up to middle-class parents who taught me that education is important, my family helped support me through college, I had role models of succesful people around me as a child, I grew up in a relatively safe and nurturing environment, etc.

I am sure an ethnic minority growing up to working-poor parents in a backwater periphery would have a much harder time achieving what I did or even knowing what to achieve, and yet it is no fault of their own that they were born to such circumstances. So I don't mind funding public schools/healthcare/infrastructure/welfare to make sure these kids get at least the basics at a level closer to mine, and are more likely to get ahead in life instead of being trapped in generational-poverty.

maybe the issue is that you don't feel your government is spending tax money wisely? IMO the solution there is to replace the government not reduce taxes.

having experienced both systems for many years it's obvious to me the welfare state gave me much better quality of life & safety, despite being a well-earning software developer who pay a lot more into the system than what I (explicitly) take out of it.

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Re:A world without retirement? by grkvlt on Monday April 03, 2017 @08:57AM (#14022395)

Remember, though, that 50% is the marginal tax rate. I don't know the tax brackets in Norway, but only income over X amount will be taxed at that rate, the first X will have a different (series of) lower rates, and generally the first Y amount has 0% tax, for some small-ish Y. This means that his amortized tax rate is less that 50%, maybe even much less if income is only a small amount over the X threshold for 50% tax.

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Re:A world without retirement? by kwhitefoot on Sunday April 09, 2017 @09:25AM (#14072160)

Actually now, 46,72% is the highest marginal rate, see http://www.smartepenger.no/faktabank/skatt/635-marginalskatt....

You have earn over NOK900k to pay that, about USD105k.

Tax on capital gains is now down to 24%.

I should have looked those numbers up earlier.

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Re:A world without retirement? by nasalgoat on Tuesday April 04, 2017 @02:32PM (#14035835)

As a Canadian I can safely say I pay about 50% of my earnings in various taxes.

I don't mind too much because I never really see the money, and I get useful government services out of it for the most part. Would I like my taxes to be lower? Sure. But I see the benefit to society my taxes bring.

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