ECONOMICS
PRODUCTIVITY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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the United States
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Western Europe
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Taxes are very high in both the United States and in Western Europe.
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Taxes are very low in both the United States and in Western Europe.
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Detailed explanation-1: -The United States’ top individual tax rate is 37%. That’s lower than the top rate in 17 out of 27 European countries. 2 The countries with the highest tax rates were Denmark (56%) and Austria (55%).
Detailed explanation-2: -Below are the maximum personal income tax rates as of 2022 for every EU state (in descending order): Finland – 56.95% Denmark – 55.90% Austria – 55.00%
Detailed explanation-3: -US, Germany’s tax rate is relatively high in comparison. Though you pay more to German tax authorities up front, the benefit you gain is savings on your US tax return when filing with the IRS as an American expat living in Germany. Taxable income in Germany is employment income, post allowable and standard deductions.
Detailed explanation-4: -California 13.3% Hawaii 11% New Jersey 10.75% Oregon 9.9% Minnesota 9.85% District of Columbia 8.95% New York 8.82% Vermont 8.75% More items •01-Dec-2022
Detailed explanation-5: -Ivory Coast-60% Finland-56.95% Japan-55.97% Denmark-55.90% Austria-55.00% Sweden-52.90% Aruba-52.00% Belgium-50.00% (tie) More items