Re:Pooling and Sharing of wealth make everyone's wealth grow...
by vidarh on Saturday September 02, 2023 @05:22AM
(#37359852)
> I pay 48% on everything above 60k € and 50% above 90k.
Those are marginal rates, not your effective rate which is what matter overall.
Austria has one of the higher tax rates of OECD countries, reaching 38.3% effective rate for a single person earning 167% of the average wage (source: OECD Taxing Wages)
Again the 20% when counted towards your income is marginal in that you only pay 20% on the price of covered products and services you buy. For starters you only spend of your net income, and only then after mortgages or rent and exempt products. When I last added that up for myself, VAT added up to around 4% of my gross salary.
So I stand by what I said. Most people in Europe pay nothing like 50%.
With respect to healthcare spending, Austrians do spend a lot, but your total healthcare spend, including private payments is far below what Americans pay in tax towards healthcare (source: OECD Health). PPP adjusted you spend an average of around $7.3k vs. around $12.5k in the US. About 2/3's of your $7.3k is taxes.
Those are marginal rates, not your effective rate which is what matter overall.
Austria has one of the higher tax rates of OECD countries, reaching 38.3% effective rate for a single person earning 167% of the average wage (source: OECD Taxing Wages)
Again the 20% when counted towards your income is marginal in that you only pay 20% on the price of covered products and services you buy. For starters you only spend of your net income, and only then after mortgages or rent and exempt products. When I last added that up for myself, VAT added up to around 4% of my gross salary.
So I stand by what I said. Most people in Europe pay nothing like 50%.
With respect to healthcare spending, Austrians do spend a lot, but your total healthcare spend, including private payments is far below what Americans pay in tax towards healthcare (source: OECD Health). PPP adjusted you spend an average of around $7.3k vs. around $12.5k in the US. About 2/3's of your $7.3k is taxes.