Norweigan oil fund

Re:Norweigan oil fund by vidarh on Thursday August 01, 2019 @11:13AM (#20584498)

The top marginal tax rate band is around 50%. Very few people pay that much income tax, or anywhere near it so it's highly misleading most people is near it. A large portion of the population are close to seeing a small portion of their income taxed at the marginal rates because Norwegian incomes are unusually flat and high, yes.

But according to OECD taxing wages 2019, the median tax and social security contribution for a single person with no children in full time employment in Norway is 27.5% vs 23.8% for the US.

Of course the US varies significantly by state.

Sales tax has relatively low impact as you spend a relatively low portion of your income on things taxed at the full rate.

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Re:Norweigan oil fund by kwhitefoot on Thursday August 01, 2019 @11:37AM (#20584769)

You can calculate what you would pay using

    https://skattekalkulator2018.app.skatteetaten.no/?aar=2018&alder=63&alderEF&kommune&locale=en_UK&sivilstand=UGIFT&tolvdelVedArbeidsoppholdINorge=12&tolvdelVedArbeidsoppholdINorgeEF=12&vilHaTolvdel=false

For an unmarried person with 500 kNOK income (56288 USD), no debts, no investments, and a house worth 2 000 kNOK (225152 USD) the annual tax is

    134 991 NOK

That's just short of 27%.

Someone with an income of 300 kNOK and a home worth 1 000 kNOK the tax pays half that:

    61 571 NOK

About 20.5%.

If you have children you pay less tax.

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