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A comment on The euro has tumbled near parity to the US dollar. Parent comment
- the state & local taxes (can be as high as 12-15%)
- social security (6.2%, tapers off after 150k)
- medicare (2% generally)
- net investment income tax (3.8%)
- different tax treatments of short and long term capital gains
Sure, if you just look at the federal rate, the US tax rate does seem a lot lower...
VAT are generally higher in Europe though. Even in the "high sales tax" areas in the US, you'd typically get ~10% compared with 22% in Europe.
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- the state & local taxes (can be as high as 12-15%)
- social security (6.2%, tapers off after 150k)
- medicare (2% generally)
- net investment income tax (3.8%)
- different tax treatments of short and long term capital gains
Sure, if you just look at the federal rate, the US tax rate does seem a lot lower...
VAT are generally higher in Europe though. Even in the "high sales tax" areas in the US, you'd typically get ~10% compared with 22% in Europe.