Think Your Taxes Are High? The 5 Countries With the Highest Taxes

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Tomorrow's D-Day for tax filers across the United Sates. While its easy to bemoan your tax rate, especially if you owe money to Uncle Sam, the United States actually has a relatively low personal tax rate compared with other countries. 

Last October, accounting firm KPMG put together a study of the countries with the world's highest tax rates on personal income. Not surprisingly, Europe was among the most-taxed regions. Western Europe led all world regions with  a 46.1% tax rate on personal incomes. By contrast, North America stood at 27.7%. 

Also, while the top income-tax bracket for America is jumping to 39.6% this year, it stands neck-and-neck with Spain for having the world's highest income level where the highest rate of taxes takes effect. 

Clearly, taxes are a matter of significant controversy. Not only do tax codes and deductions vary wildly by country, but the services a citizen receives for his or her tax dollars also differ. Services are difficult to measure in an objective manner, but KPMG tried looking beyond purely top tax rates by measuring effective taxes for people who earn both $100,000 and $300,000 per year. 

Let's look which countries' citizens had the highest tax burden in 2012, and how they compare with the United States. 

1. Belgium

  • 2012 top rate of income taxes: 50%
  • Effective tax rate on $100,000: 47% (13.1% Social Security, 33.9% income tax)
  • World rank on effective tax rate of $100,000: 1
  • Effective tax rate on $300,000: 53.4% (13.1% Social Security, 40.3% income tax)
  • World rank on effective tax rate of $300,000: 2

2. Italy 

  • 2012 top rate of income taxes: 43%
  • Effective tax rate on $100,000: 45.2% (9.6% Social Security, 35.6% income tax)
  • World rank on effective tax rate of $100,000: 4
  • Effective tax rate on $300,000: 51.8% (10% Social Security, 41.8% income tax)
  • World rank on effective tax rate of $300,000: 3

3. France

  • 2012 top rate of income taxes: 45%
  • Effective tax rate on $100,000: 42% (22% Social Security, 20% income tax)
  • World rank on effective tax rate of $100,000: 8
  • Effective tax rate on $300,000: 54% (20% Social Security, 34% income tax)
  • World rank on effective tax rate of $300,000: 1

4. Denmark

  • 2012 top rate of income taxes: 55.4%
  • Effective tax rate on $100,000: 42.3% (0.2% Social Security, 42.1% income tax)
  • World rank on effective tax rate of $100,000: 6
  • Effective tax rate on $300,000: 51.5% (0.1% Social Security, 51.4% income tax)
  • World rank on effective tax tate of $300,000: 4

5. Greece

  • 2012 top rate of income taxes: 45%
  • Effective tax rate on $100,000: 46.5% (16.5% Social Security, 30% income tax)
  • World rank on effective tax rate of $100,000: 2
  • Effective tax rate on $300,000: 45.1% (5.6% Social Security, 39.5% income tax)
  • World rank on effective tax rate of $300,000: 14

For comparison: The United States

  • 2012 top rate of income taxes: 35% (rising to 39.6% in 2013)
  • Effective tax rate on $100,000: 26% (7.3% Social Security, 18.7% income tax)
  • World rank on effective tax rate of $100,000: 55
  • Effective tax rate on $300,000: 30.5% (3.7% Social Security, 26.8% income tax)
  • World rank on effective tax rate of $300,000: 53
It could be worse
While Denmark makes this list as one of the highest-taxed countries, it also routinely scores rankings as the "world's happiest country" and ranks amazingly well in areas such as regulatory efficiency. Also bear in mind that income-tax rankings don't fully account for areas such as VATs and sales taxes, as well as payroll taxes levied on employers that can act as hidden taxes reducing income. 
Yet if you're a last-minute filer bemoaning your tax burden in 2012, just remember: If you live in America, it could be worse.

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Read/Post Comments (43) | Recommend This Article (12)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

  • Report this Comment On April 14, 2013, at 7:30 PM, ctrailhopper wrote:

    The tax's in those countrys are high! But look at what they get in return for those tax's! Free medical unemployment that does not end after a year! better retirement! You dont have to pay for every copy of a birth cert or marriage cert! almost any copy! from the government! there is a lot more!!! are tax's go to pork barrel and other stupid things!!! Wake up and dont let the Government B.S you!

  • Report this Comment On April 14, 2013, at 7:30 PM, zavador wrote:

    Maybe the moral of this story is we need to pay more taxes to be happy.

  • Report this Comment On April 14, 2013, at 7:33 PM, aug99 wrote:

    The difference is, these other countries don't have the WASTEFUL DEMOCRATIC PARTY,

    to ruin their country.

  • Report this Comment On April 14, 2013, at 7:35 PM, amysname wrote:

    Oh this just makes me feel all warm and fuzzy all over......just think there are at least five countries that have higher taxes than! If I'm not mistaken the media want us to be HAPPY that gas is at it's all time highest here when other countries pay more ......well I am not happy! I don't compare our country to others as there is no comparison!

  • Report this Comment On April 14, 2013, at 7:42 PM, speremmu wrote:

    Unfortunately the indicated rates for Italy are not correct as social security ranges up to @ 43% of gross income: an employed person pays actually @10% but the fact that the balance is payd by the employer does not levy the tax ...This in in addition to the icome tax brackets ...

  • Report this Comment On April 14, 2013, at 7:45 PM, Grievousarc wrote:

    2 convenient numbers are missing in the calculation of Americans' taxes: 1. The Social Security number is 14.6% not 7.3...the other 7.3% is payed by the employer which means 7.3% less pay for the worker. 2. No mention of state or local many of these other countries have state and local taxes taken out? local? maybe...state? none. Add those in and you'll find much less of a difference...honest evaluations are more helpful than biased statistics.

  • Report this Comment On April 14, 2013, at 7:56 PM, MrModeration wrote:

    It's a bad comparison. First, many American taxes are embedded in corporate tax; the consumer pays them unknowingly.

    Second, workers only pay half their SSA tax, as others caught. The employer pays the other half.

    Third, most of the countries cited have a more competent and efficient bureaucracy.

    Fourth, Americans don't receive the services the other countries receive: retirement pension, health care, etc.

    Fifth, Americans are taxed at many levels of government.

    If you figure all of that, Americans probably pay more.

  • Report this Comment On April 14, 2013, at 7:58 PM, lorcanbonda wrote:

    Exactly -- this is the Motley Fool math once again. Social Security/Medicare is actually now at 15.3%, but there's a cap and it does not apply to Capital Gains (i.e. the rich) so, Motley Fool does not care. Also, most of those nations have universal health care included in their taxes -- American health care costs 16.2% of GNP in the US compared to 10% for Denmark and ~ 8% for the average industrial nation.

    So, that might explain such unhappiness.

  • Report this Comment On April 14, 2013, at 7:58 PM, Freddbe wrote:

    How many wars these other country had to deal with in the last 20 years and didn't increase tax to pay for them. ? How many tax breaks and tax cuts they give away? how many checks they send other countries? How much they have to pay for healthcare? How much Oil and Oil sands leaked into there waters and neighborhood. How many they let die without having healthcare? How many have a tax pledge that controls there congress? How many have a 15 trillion dollar debit? How many can't get as tax increase to pay on it's debit?

  • Report this Comment On April 14, 2013, at 7:59 PM, woodweasle wrote:

    Why did your grandparents or your great grandparents or your great, great grandparents leave those countries? Why leave their homeland ? Their whole family history is there ! Government.

  • Report this Comment On April 14, 2013, at 8:04 PM, AngrySpamMonkey wrote:

    This article is a bit off...actually a lot off. As an American having lived in Europe for over 10 years, this tax issue is not that simplistic.

    The article narrowly focuses only on Federal Taxes (and doesn't really do it right, either). For example, it cites the "Effective tax rate on $100,000: 26% (7.3% Social Security, 18.7% income tax)"...... that's not accurate. Beginning in 2013, the Social Security tax (employee contribution) went back up from 4.2% to 6.2%, coupled with the 2.9% for Medicare = 9.1%. That's NOT including the matching portion employers must pay.

    Additionally, it's not taking into account some things European's don't necessarily pay - Sales Tax (although they have VAT), and State/Local Income Tax.

    Plus, the return on the taxes you pay is much less than what is received in Europe, too.

    There are too many variables not discussed here to make this a really good article.

  • Report this Comment On April 14, 2013, at 8:09 PM, ecogas wrote:

    Mr. Eric Bleeker, You are absolutely DEAD WRONG! I live in California. Yes, My Tax bracket this year is (Federal) ONLY 39.6%

    Helloooooooo! !!! There is such a thing as State Tax in USA except for few states.

    Did you you forget about State Tax?, which Belgium and all those other countries don't have.

    + Social Security & Self Employment Tax, etc...

    The last time I checked it was more than 55% !!!!!

    Don't forget citizens of Belgium don't have to pay for Health Insurance (another $12,000 per year, which may double this year according to Blue Shield) If I don't work or make an Income less than $23,000. I get health insurance for FREE! If I work very hard and make 4x that, then I have to pay more taxes to carry the weight of the "free riders" REWARD THE LAZY & WHIP THOSE WHO CHOOSE TO WORK HARD. Interesting concept indeed.

  • Report this Comment On April 14, 2013, at 8:14 PM, bilbaym wrote:

    All I have to say about that is...

    1. Belgium - All residents are entitled to a certain level of insurance coverage, however there is also an option to receive supplementary, private healthcare, if the patient is willing to cover the extra cost.

    2. Italy - Health services are free or almost free.

    3. France - Health services are free.

    4. Denmark - Health services are free.

    5. Greece - Health services are free

    6. United States of America - Health services are friggin' expensive!

  • Report this Comment On April 14, 2013, at 8:19 PM, SpinningMedia wrote:

    If the US government wasn't so adept at WASTING our tax dollars, I might be more open to higher taxes. But when bridges are collapsing, kids can't read, and I'm watching missiles fly at a million bucks a pop, I'm not a happy camper. Don't even mention billions in foreign aid to countries that would just as soon see us wiped off the planet. I want a president and a government whose mantra is "American's First".

  • Report this Comment On April 14, 2013, at 8:41 PM, greyhound44 wrote:

    Fortunately, I have not paid FICA since 31 August 2003; No property tax in the US (ex: $137.23 for 2011 and 2012 on my time share condo in Solana Beach, CA) since 2004, and NO US income tax since 2007.

    ret expat MD

  • Report this Comment On April 14, 2013, at 8:58 PM, Juliusn wrote:

    This article is misleading. Before an emplyee gets his pay check, the employer sends about half of his pay to the government, called Social contributions, for health care, accedent insurance, retirement etc.

    ( Since the employee never sees this money, they think they do not have to earn it.) From his pay check the employee has to pay Income tax,( 35 to 50 % ) they have 20% salestax, also property tax, vehicle tax and so on. A total of 75 % taxes is a minimum in this countries.

  • Report this Comment On April 14, 2013, at 8:59 PM, lightScribe wrote:

    What a deal! The US is a haven!

    Let's look which countries' citizens had the highest tax burden in 2012, and how they compare with the United States. Who wrote this comparison think we are a bunch of "useful idiot".

    The 5 countries pay higher than the US but it's misleading. These 5 counties have better and cheaper healthcare services, free or cheaper higher education, and universal retirement plan that is much much better than the US. They don’t call endowments but citizen’s rights.

    AND the real estate taxes are about 60% less than the average in the US. Maybe we pay higher because we consume meat treated with growth hormones and make us stupid.

  • Report this Comment On April 14, 2013, at 9:30 PM, mikeydred62 wrote:

    Sort of ironic that two of the four countries with higher taxes are bankrupt, Greece and Italy. YahooNews seems to be oblivious to that. Oh now I get Yahoo's message...."Thank you Obama for not taxing me more...things cound be worse, they could be confiscating 10% of my savings account like they are doing in Crete."

  • Report this Comment On April 14, 2013, at 9:39 PM, wwt17 wrote:


    These 5 counties have better and cheaper healthcare services, free or cheaper higher education, and universal retirement plan that is much much better than the US.

    What is your point? Do you want to pay more taxes so you have better health care, free education and universal retirement? I think that was partly the point of this article. How do you think ppl in those countries get those benefits? Higher taxes of course!

  • Report this Comment On April 14, 2013, at 9:40 PM, 123dlsmith38 wrote:

    The comments here about sales tax, corporate tax, gas tax, etc.. that we pay to make our tax just as high is pretty naive. Europe has those same taxes, and in some cases, such as gas tax, they are also MUCH higher than the U.S. So in a country such as Belgium, which had the highest tax rate for people making $100,000 and $300,000, they also have the corporate taxes which makes products cost more, they have a much higher gas tax, they have sales tax, Value added taxes, etc... So their effective tax rates after paying EVERYTHING IS STILL much higher than here in the U.S.

    In England for instance, their effective tax rate on gas is 188% (wiki) Ours varies from state to state but ranges probably from about the low 20 cent range to the low 30 cent range. And it's based on the gallon and not price, so the higher the price of gas, no tax rate change.

  • Report this Comment On April 14, 2013, at 9:43 PM, as27358 wrote:

    Yes, yes, yes to the person that pointed out state tax.

    You say you live in CA (I live in NY, we can compare notes on which is worse) you will pay your 39.6% Fed PLUS AT LEAST 10% more which means (CONGRATULATIONS MR. OBAMA) we do OFFICIALLY pay a higher top rate of income tax here in the US than in FRANCE, UK, GERMANY, ITALY or SPAIN.

    Let me add another great one, PROPERTY TAX.

    I'm originally from the UK. My parents own a $2M approx home and pay 4K USD per year in property tax. HOW DOES THAT COMPARE TO CA or NY?

    I am fed up with people, usually democrats, who grossly misrepresent this issue. I work for a multi-national company (US, public) that moves people around the world all the time and virtually every other developed country in the world has lower taxes than the US.

    HONG KONG - 16% max income tax, ZERO capital gains.

  • Report this Comment On April 14, 2013, at 10:17 PM, jtc2000 wrote:

    What a lot of people don't understand is these countries have great benefits but also live in a protected umbrella provided by the US when it comes to any foreign attack. If anyone truly thinks that without the US military might letting these countries prosper with minimal defense spending and there wouldn't be a country trying to absorb into some dictator agenda is living in a dream world. Balancing a great benefit budget is easy when you don't have to maintain 11 aircraft carriers (plus all the support ships) Ha, look at the carrier fleet of other countries, China has ONE used 1970's version hand-me down in their arsenal. Not, including a submarine fleet that matches the world combined. Face it US is Sparta of the past and we should stop comparing are selfs to these countries. We either pull back put everything on sale and let the world dive into utter chaos or continue protecting and just let everyone who wants to live in these counties move there.

  • Report this Comment On April 14, 2013, at 10:26 PM, acceptme wrote:

    This is not news. It is an incorrect opinion made of by phony facts.

    Regarding the US taxes:

    So many taxes are not included. Sales taxes, property taxes, user fees (not true users), employer taxes, the employer portion of the social security tax, minimum taxes (even if there is a business loss).

    So how many errors did this phony reporter make regarding the foreign countries? Probably many.

    This truly is a FOOLS place. I am not allowed to use my real name or a nick name. In the world there are duplicate names but not here.

  • Report this Comment On April 14, 2013, at 10:39 PM, vinese wrote:

    We are oh so lucky... As a self employed individual I also get to pitch in the other half of SSI taxes.... Then I get to donate 5% to the state, then I paid $14,000 in property taxes for my personal home, and business owned property that I can't claim Homestead on... Oh I almost forgot I paid 7% in sales tax on every dollar I spent.

    Then I had to pay $700 for my car tag/tax. I drove 30,000 miles. Every dollar spent on gas is about 30% of pure taxes...

    Don't forget all the miscellaneous taxes on everything from cell phone bills, utility bills, etc...

    I've crunched the number and on my $150,000 in income it was well over 50% paid in federal, state, and local taxes.... The horrifying fact is that the government is taking soooo much yet still we are running Trillion dollar deficits with no end in site..

  • Report this Comment On April 14, 2013, at 10:49 PM, stratus46 wrote:

    This like grade school kids. What BILLY did is _worse_ than what _I_ did so I'm not so bad. Those are all loser Europeans. Who wants to be like them? Oh yeah, liberals.

  • Report this Comment On April 14, 2013, at 10:49 PM, motorjaw wrote:

    My God, what are the point of facts if you spin them however you want. Income tax is lower in other countries than the US. The article isn't about entitlements or property tax just like its not about GDP per capita, the price of gas, or standard of living. It's not misleading because you don't like it. We are taxed on whole as low as anytime in most of our lives in the US. Go look up

    what the tax rate was during WW2 when we armed a country and others on Gov money without significantly increasing the deficit. Taxes suck but there are worse things.

  • Report this Comment On April 14, 2013, at 11:07 PM, SexyBrooke wrote:

    I live in the Netherlands, and we have higher taxes than Belgium. The healthcare is not "free" here as many of you imagine. It is just that everyone is required to purchase health insurance like a car. Our vat tax, which is on everything even shipping is at 21%. The USA has no vat, import duty fees are 21% plus 6.5% tariff over 150 euro. The government does not give people anything.

  • Report this Comment On April 14, 2013, at 11:15 PM, onthemargin wrote:

    Ignorant article.

    Ignores Medicare Taxes (0.9%-3.8%)

    Ignores State Income Taxes (0%-13%)

    So top US rate in for example California is easily on par with Denmark

  • Report this Comment On April 14, 2013, at 11:23 PM, Marrkit wrote:

    Actually if you're self employed the social security in Italy is 27% of net! So if you earn over $100,000 you pay 45.2% Tax which leaves you with $54,700 then deduct 27% Social Security. In Italy a small business owner earning $100,000 after expenses gets to take home $39,910.

    Do Americans have it easier? You tell me..27%, 14.6% or 7.3% social security.

    Oh the Americans have House tax, big deal the Italians have that and a gas heater tax for every device in the house (in the form of a yearly mandatory inspection) You can't fart in Italy without paying.

    And don't get me started on free health care..Free does not mean good and it can be sketchy even if you pay. A baby recently died because the midwives got into a fight over who should deliver the baby. If you need important surgery done in Italy most choose to pay.

    In Italy social security was 10% in 1996, 18% in 2006 and 27% in 2012..What will it be in 2020?

    That's probably why there is still so much tax evasion in Italy and the politicians don't set a good example either. Because you pay all your taxes and get what in return?

  • Report this Comment On April 14, 2013, at 11:45 PM, Puahia wrote:

    To compare the US taxes with taxes in Denmark you have to add health insurance costs, payments for university, elder care and child care to whatever we pay in the US. It is all free in Denmark because you pay for it through your taxes. You will never lose coverage in Denmark even if you lose your job and all your children will still be able to go to university. That is why people are happy there because you don't have to worry about it. They have simplified the tax system so 95% of the population do not have to file taxes.

  • Report this Comment On April 15, 2013, at 1:20 AM, Jake4321 wrote:

    Our country allows many deductions which make the tax rate much lower.

    My wife and I are retired. We get the standard deduction plus deductions for grandkids we are RAISING. The kid's give me $1000 each of a tax credit. WE MADE 108,000 AND PAID ONLY $11,300 IN FEDERAL TAXES.


  • Report this Comment On April 15, 2013, at 1:59 AM, erasmus4273 wrote:

    There are 26 countries with higher taxes. This story is what to expect from fools.

  • Report this Comment On April 15, 2013, at 2:36 AM, Robert97501 wrote:

    Communism/Socialism = 100% taxes

    Seems safe to say the higher your taxes, the closer to Socialism you get.

    When do we put the sickle and hammer over the Stars and Stripes?

  • Report this Comment On April 15, 2013, at 2:51 AM, foolyourself2 wrote:

    The only person fooled here is

    We pay way more taxes than any other country. Countries like belgium/france/denmark have one federal tax. In US, we pay federal, state and local taxes. if you add them up, they are about 53.5%. for 53.5% and still you have to pay for your own ridiculous amount of health insurance. We also pay fees for fire and police personnel. So we are up there you fools. It Can get worst than this.

  • Report this Comment On April 15, 2013, at 3:01 AM, LorneWillard wrote:

    Why would anyone with a title of CFA behind their name be so uneducated about our tax system? A fair comparison is difficult to do with any other sovereignty's tax system and at a minimum would take into account the political hierarchy. Though Denmark has has higher taxes at a "federal" level, failing to take into account FICA, Medicare, State and other local taxes (a county is another political division and some states, mine included pay personal property taxes (cars, motorcycles and boats), and property taxes on real estate (mine just went up). I also pay 1% to my city.

    On top of that, comparisons of VAT vs. sales tax needs to be taken into consideration. VATs avoid the cascade effect of a sales tax and in this country, the cascade effect of any taxes are lost upon the masses (i.e., the taxation of corporate taxes, then taxes of the dividends to share owners is another example).

    The tax system is very complex, and understanding it is difficult, and an article like this only continues the miss-education that occurs in our country by our uneducated and often biased media (a similar article was aired on CBS recently). Eric, you need to prove that as a "Chartered Financial Analyst" and an honest journalist, that you can do the research and provide accurate information. This was obviously a failed attempt.

    I would not hire you to manage any of my money and I certainly would not take any advice from someone as naive as you.

  • Report this Comment On April 15, 2013, at 4:50 AM, dkangan wrote:

    And other erroneous omissions. The famously high pump price for gasoline in European countries is a result of higher taxes included in the pump price (is anyone so FOOLish as to believe that the producers there simply charge more than elsewhere?). Or in China, for example, where income is taxed at relatively lower rates, state owned gasoline is more expensive, and consumer items are fabulously expensive because of taxes levied on producers -- e.g., a can of tennis balls that sells for $2.29 in the USA sells for the equivalent of $6.75 in the PRC, and an item like an iPad is levied at 20% of the price.

    There are many ways to distribute and disguise a tax burden. Focusing on the income tax schedule itself is either short sighted or disingenuous.

  • Report this Comment On April 15, 2013, at 6:48 AM, sccoast1700 wrote:

    I think for this type of thing to be accurate they should add up total costs. For instance if I added up what I have to pay for taxes plus private health insurance plus retirement plus college costs for my kids, what does that cost. I bet the countries with government medical plans have a lower overall total.

    I know people who had to sell alot of their household goods just to pay medical bills. I think that I would rather pay more in taxes and know I would never have to face that .

  • Report this Comment On April 15, 2013, at 10:58 AM, damilkman wrote:

    I also have a problem when you compare teeny tiny countries to big sprawling countries. It is just not an apples to oranges comparison. The populations of Denmark, Belgium, and Greece are 5.6M, 11M, and 11.3M. This is like attempting to make a comparison of anything between California and Wyoming. It is a lot easier to do something with 5 million people espeically if they are concentrated in a few urban areas verses attempting to manage a gigantic country that is 3000 miles in length and 1500 miles in width.

  • Report this Comment On April 15, 2013, at 6:37 PM, agwisreal wrote:

    It's not how many people, it's which people. If California's population was however many Danes, with Danish levels of education and skill and crime levels, California would be a happier place, whatever tax rate it set.

  • Report this Comment On April 15, 2013, at 6:57 PM, ukta wrote:

    These comparisons are truly foolish since our effective tax is closer to 65% ..and what are we getfing for it? Much less than other countries in benefits. So don't play the true fools by spouting silly tax figures!

  • Report this Comment On April 16, 2013, at 9:12 AM, Ladydidi wrote:

    "Omnis comparatio claudicat. ": Every comparison limps, the roman used to say, but I am amazed at how authoritative some people can be talking about things they don't know about. The more aggressive are the less informed.

    In France, where I live, the income tax is on revenues after deduction of ... many things that make the above "effective" tax rate totally misleading.

    What's more, the French system is based on shares and takes in account the number people in a family, in particular children as long as they live with you. For example, if you are alone - divorced, separated or widowed – and raise a child, you divide the amount you should pay by 2 or 2.5. There is a cap to the rebate this generates but you can get as much as $ 5250 off in the 2.5 case for instance.

    With or without children, veterans and handicapped people count for 1,5 share instead of 1 and they can deduct up to € 4000 every year, all of their life, in addition to what they might deduct when raisinf their children. Share system + all sorts of legal deductions, no-one pays the amount quoted above

    My neighbor's family – he makes over 100 000, she does not work, they have a flat they lease, and 3 boys now at University– will have a lot of fun learning that they pay 40% of their revenue in taxes!

    Like all of us, they do pay local taxes. But their amount is 6 times less than what my American relatives pay for a smaller estate while they includes the village's road and sewage system maintenance, street lighting, street cleaning and garbage collection.

    When my parents died in 2004, I planned to move to America to be close to my only relatives. Real estate is expensive here and I could afford a really nice house for the price of the one I have. But when I added up the property taxes and all the "extra cost" on a yearly basis, just for services that are included here, I realized that, being retired, I would have a less comfortable life.

  • Report this Comment On May 14, 2013, at 6:14 AM, thidmark wrote:

    Italy and France are on the brink of financial collapse, and we all know the story of Greece.

    The U.S. will be joining one of those lists soon, financial collapse or high taxes. Get ready, folks.

  • Report this Comment On November 15, 2014, at 6:30 AM, Morpheus65lv wrote:

    Some US taxes are not figured in. Likewise the taxes from other countries, the VAT tax for instance, are not figured in. There are graphs where government tax revenue is figured as a percentage of GNP. Those graphs show that the US ranks in the top 5... for countries with the lowest tax rates. Part of this is because we do not currently count insurance costs as a tax. After all is said and done, what matters most is tax revenue vs GNP. That gives a broad picture of how much people and businesses are taxed after all the loopholes are factored in.

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