Donate SIGN UP

Taxes in US. compare with other industrialized countries

Avatar Image
Minnesota | 04:59 Mon 26th Sep 2005 | Business & Finance
3 Answers
We were curious how our taxes that we pay in as citizens of the U.S. compare with the taxes that other citizens of other industrialized countries pay.

Do American's generally pay more or less?
Gravatar

Answers

1 to 3 of 3rss feed

Best Answer

No best answer has yet been selected by Minnesota. Once a best answer has been selected, it will be shown here.

For more on marking an answer as the "Best Answer", please visit our FAQ.
Generally a UK citizen has approximately 30% of his/her income taken from them in direct taxation this includes income tax and national insurance. Most basic food items are free of value added tax but most if not all other goods attract a VAT rate of up to 17.5%.

Having visited the US a fair number of times on business I would say overall you pay less tax than us in the UK, and most other western European countries.

Of course that is balanced by the fact that you have to pay for things like medical insurance, and some further education, that we get for 'free' or cheaply.  

For example we pay contributions in our salary towards the Health Service, but if you are ill all treatment is free. A visit to our local doctor or a hospital is free.

You can pay for treatment if you wish, perhaps to get it a bit quicker, but you do not have to.

Also school is free, up to age of 16, plus many people go to college for 2 years, which is usually free. Some people go on to university, which is sort-of free, it depends how much your parents earn, but many students leave university with large debts.

Part of the reason we have larger taxes is our social security, where we give people money who are unemployed, or disabled, or cannot work for some reason.

I know you have limited support for this in the US, but over here I feel it is too easily given out, and many people take advantage of the ease in which you can get social security.

We have many 'spongers' who make no attempt to work, or look for a job, or gain a skill. And of course we attract many immigrants and asylum seekers for that very reason.

Our social security bill is HUGE, which has to be paid for in taxes.

Of course some European countries have an even more generous social security system, like Sweden or Denmak, and their tax bill is bigger than ours. If you think you are badly done by, go and visit Sweden or Denmark fora holiday.

You will never complain about your tax bill again.           

Minnesota -

I am an American, originally from California and I can say that average salaried (I was on between 36-38K three years ago) Americans pay more in payroll taxes than I do now now in the UK.

I was under the impression, before moving to the UK that I paid less taxes than Europeans, but that is not really the case. Of course, it depends on what tax bracket you are in, but generally if you are a mid of the road American, than you do get ripped off in payroll taxes. Plus, you have to pay for health insurance and you get less paid holidays.

1 to 3 of 3rss feed

Do you know the answer?

Taxes in US. compare with other industrialized countries

Answer Question >>

Related Questions

Sorry, we can't find any related questions. Try using the search bar at the top of the page to search for some keywords, or choose a topic and submit your own question.