The average tax rate for a single childless worker in Europe is over 50%.
In the United States, it is 31%.
I think that this would encourage people to do well when they can keep more of their income.
I am glad I live here.
How about you?
(Though I know there are plenty of people getting Think Daily who do not live in the U.S.)
What are your thoughts?
People in this country will never understand how lucky we are.
My clients who are first and second generation Americans can not say enough good about our country! We may have our problems but from all accounts from everyone I have spoken to from other countries, they put the USA above all of the rest in livability, freedom, opportunity and prosperity! USA, USA, USA!!!
My father who was born and raised in Ukraine, used to say, “if you owe taxes, pay them and be happy, because you live in the best country in the world ” . Sorry dear American friends. He was talking about Canada.
I think intuitively, everyone wants lower taxes and more freedom, including me. However, interestingly, the countries with the happiest people in the world (and their top income tax rates) are Finland (57.65%), Denmark (55.9%), Iceland (46.28%), and Sweden (52.3%). The USA ranks 23rd for happiness. The data indicates that lower taxes do not necessarily lead to greater happiness. Of course, other factors are involved and likely more important—stable government, a sense of community, access to quality education, infrastructure, environmental stewardship, lack of pollution, etc.