Despite the lively debate surrounding our current tax code, the tax rate on incomes
of $100,000 in the United States is quite low compared to countries in Europe and
Asia. While Denmark may take the prize for the highest tax rate for
incomes of $100,000, it only taxes 0.2% for social-security
contributions. Taking into account all of these factors, Belgium
actually gets the most out of its $100,000 earners, taking a cut of
about 48%. Also, as the Economist
explains, despite the fact that tax rates for personal income were on
the decline between 2003 and 2009, many governments have raised taxes in
an effort to combat serious deficits. 
Thursday, February 9, 2012
And the Winner for Highest Tax Rate Goes to…
Despite the lively debate surrounding our current tax code, the tax rate on incomes
of $100,000 in the United States is quite low compared to countries in Europe and
Asia. While Denmark may take the prize for the highest tax rate for
incomes of $100,000, it only taxes 0.2% for social-security
contributions. Taking into account all of these factors, Belgium
actually gets the most out of its $100,000 earners, taking a cut of
about 48%. Also, as the Economist
explains, despite the fact that tax rates for personal income were on
the decline between 2003 and 2009, many governments have raised taxes in
an effort to combat serious deficits. 
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