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by yokaze
2 days ago
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The numbers are simply wrong. The VAT is 21% tops and in the highest taxed region the 60K are effectively taxed at 32%. And you miss the point that wealth is not determined by how much you earn, but how much you have. Various super rich are nominally earning one dollar/euro. I know doctors that have trouble finding a flat and others that complain about being classified as big renter because they only have six flats. The discriminator is not the income. (When we talk about the Ultra-Rich). |
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That IS my point. Earning is how you become wealthy. That is heavily taxed, because it's easy for the government to do. These taxes prevent anyone becoming wealthy.
They are, however, protecting people that already are wealthy. Cross the threshold where you make more from owning stuff than from income and Spanish taxes look a whole lot better, because you can determine yourself how much income you have. In other words: you only pay tax on the income you actually use for living. Any income used for wealth-building is not taxed (acquiring the actual assets still is but 20% in the worst case. Also investment gains are not taxed, if you structure things right). Cross the next threshold: where you wealth not only pays for living but actually lets you acquire more assets and it's even better. For that ("reinvestment") you pay ZERO percent taxes on the money used to grow your assets.
The very wealthy get richer in Spain. You just can never join them.