[chriogenix]

basically this.

in these mostly socialist countries, the top income bracket starts much much lower than in the US. these countries tax the middle class and consumption with VAT ranging from 15-21% on consumption. in spain the top bracket starts around 60,000 euros a year and its 45% not including local tax.

these policies and similar ones in other countries in effect keep the rich rich and make it much, much harder for the poor/middle class to move up.

[dep_b]

Yup, moved back to one of those countries from a 20%-ish country and since I'm still not rich enough to have tons of deductions I'm really getting squeezed out of about half what I earn.

[namdnay]

I agree that corporation taxes are a bad idea, however I don't understand your argument about the tax rates in spain. How do they "keep the rich rich and make it much, much harder for the poor/middle class to move up"? You said yourself that the marginal income above 60k is taxed at 45% - that's clearly heavily taxing the rich

[the_gastropod]

These socialist countries have better economic mobility than the U.S. does...

https://www.economist.com/graphic-detail/2018/02/14/american...