World graph.. Effective Tax Rates on $100,000

[Ichingcarpenter]

DENMARK has the highest rate of income tax for a person earning $100,000, according to a survey of effective tax rates in 93 countries published on September 29th by KPMG, an accounting firm.

But employee social-security contributions in Denmark are only 0.2%, and once such contributions are taken into account, high earners in several countries, including Belgium, Greece, Germany and France, take home less than the Danes.

Belgium’s government grabs the highest share from earnings of $100,000, at almost 48%. Between 2003 and 2009, the highest tax rates on personal income declined.

But last year they increased by 0.4% as governments sought to reduce deficits. Sickly euro-zone economies such as Iceland, Ireland, Spain and Portugal were among the countries who levied more on their top earners. Countries that have suffered natural disasters, like Japan, may introduce temporary taxes.

[seabeyond]

1. if given health care and other social services. but greece doesnt pay and i understand france's

wealthy are not paying either.

[reggie the dog]

4. the wealthy pay income tax in france

now multinational corporations on the other hand..... they sometimes pay no tax at all

[seabeyond]

11. i am sure some do. but i understand that there is an issue there.

maybe if i have time i will see about goggling the article i read. though, honestly, i stink at googlin

[reggie the dog]

12. tax exemptions

help some classes of wealthy who make money that is not "income" in the legal sense pay a lower percentage of taxes than was originally planned, which is pissing off lots of people here in france, since the right wing UMP president sarkozy has come to power the left has won every election, the left won the european union representatives election, the mayoral elections (which happen all across the country on the same day), the regional elections, and for the first time since 1958 they have won the majority in the senate. people are fed up here, i am looking forward to a good protest against the g 20 down in cannes next month.

[seabeyond]

13. that may have been the issue. and excellent, glad to hear it

i undrstand sarkozy is in trouble, too.

[reggie the dog]

14. big trouble

[ThomWV]

2. But, but, but .... FOX says that Americans pay the highest taxes in the world? Who's right?

Bwahahahahahaha,

It is one of the Republicans favorite talking points - except for the one that says that either 40% or 50% or 60% of us pay no taxes at all - that Americans pay the highest taxes in the world and that is why everything has turned to shit.

[nichomachus]

3. The other problem

is that many of the wealthy don't receive "income" as such. Much of their multi-million dollar earnings are in other forms -- "carried interest," stock options, etc. and thus are taxed at much much lower rates.

For example, Meg Whitman just took over as CEO of HP and her "income" will be $1.00. She will be taxed on that. However, she also received 1.9 million stock options and the income on that will be taxed as capital gains at a much lower rate.

[jtrockville]

5. If those taxes cover health care, it's not an apples-to-apples comparison to US

Also, would be interesting to know whether or not you can actually live off the pension you draw from SS or if you need to supplement that.

[pnorman]

6. K&R!

[TBF]

7. Recommend. nt

[IndyPragmatist]

8. We have many tax brackets above 100,000

I saw this on the Economist when it was published. I would be all for a Danish style taxation model, as long as we put it on everyone. But this also requires many people who are not paying income tax on the lower half to start paying a significantly higher rate.

[archiemo]

9. Where would Canada be on this list?

[IndyPragmatist]

10. 26% for Canada

http://www.cra-arc.gc.ca/tx/ndvdls/fq/txrts-eng.html

That's for the tax bracket that reaches 100,000. So with the other tax brackets factored in, it's about 21-22%.

[Yooperman]

15. Interesting... yet many of the countries with higher tax rates have "Universal Healthcare"

If you add the cost of health insurance premiums as a tax... where would the U.S. be on this list. I know the portion my family pays is near $400.00 amonth ... not including the portion that the company pays.

So... I can't look at this as a really fair graph to the true costs we Americans pay.

YM