reply to post by chrismarco
Maybe some Americans should go and take a hard look at what we pay in Europe. That amount you stated is complete peanuts.
Someone on €60000
Total Income €60,000.00
Your Income €60,000.00
Tax @ Lower Rate (20 %) €8,360.00
Tax @ Higher Rate (41 %) €7,462.00
Tax Credits (€4,950.00)
Net Tax (€10,872.00)
Universal Social Charge (€3,519.00)
Annual Net Income €43,473.00
Monthly Net Income €3,623.00
Weekly Net Income €836.00
pays 17000 in taxes of which PRSI @2000+ is probably the equivalent of your obamacare.
On top of that we pay 21% sales tax on virtually everything.
Oh and ther is 65% tax on fuel, property taxes, water charges and many more taxes. I calculate that for the average person without a mortgage as much
as 50% of gross income is lost to tax when everything is accounted for.
edit on 29/6/2012 by PuterMan because: (no reason given)