American Workers Pay A Lot of Income Taxes, But At Least We're Not Belgium... …
American Workers Pay A Lot of Income Taxes, But At Least We're Not Belgium...
It's always painful seeing large swaths of our earnings being swallowed up by state, local, and federal governments, but the truth is that our tax situation could be much worse. We could have rates at high as Belgium where more than one-half of one's earnings are taken in taxation.
We're on the bottom half of these developed countries, which is good. But still, who likes seeing one-third of their earnings being taken at the end of the day?
The best places for tax rates are New Zealand, Mexico, and Switzerland (with Chile receiving an honorable mention from Dan, as a developing country). Perhaps there are things we can learn from these other countries here in the states (especially since New Zealand is now one of the world's fastest growing economies).
We can also learn to stay away from others' foolishness. I'll take some good Belgian waffles, but I'll pass on their tax rates.