[Ispy4u]

Finland tax rates

I don't see 60% on this site.

some quick searches told me the Average finnish income is like 34,000 Eur approximately 6 FIN/Eur comes to 204,000 FIN average income.

Income tax rate for 204,000 is 13% plus 22% VAT (less on some items) still only equals 35%.

Now I agree they are socialists and I don't envy them. I also have very limited skill with translating numbers into real life, hence I'm not an economics guru.

Please show me where 60% comes from.

[international american]

I got these numbers from an A&E interview with the Finnish Minister of Finance .They have many other taxes that are not reflected under the basic tax codes. It was he who stated this when queried by the interviewer.

[HarleyD]

This is what I found from the Library of Economics and Liberty
Marginal Tax Rates
by Alan Reynolds
http://www.econlib.org/library/Enc/MarginalTaxRates.html

The marginal tax rate is the rate on the last dollar of income earned. This is very different from the average tax rate, which is the total taxes paid as a percentage of total income earned. The seemingly arcane topic of marginal tax rates became the central theme of a revolution in economic policy that swept the globe in the eighties. By the end of the decade, more than fifty nations had significantly reduced their highest marginal tax rates (most of which are shown in table 1). Neither Karl Marx nor John Maynard Keynes had so much influence on so many countries in so little time.

TABLE 1

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Maximum Marginal Tax Rates on Individual Income

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1979 1990
Argentina 45 30
Australia 62 47
Austria 62 50
Belgium 76 55
Bolivia 48 10
Botswana 75 50
Brazil 55 25
Canada (Ontario) 58 47
Chile 60 50
Colombia 56 30
Denmark 73 68
Egypt 80 65
Finland 71 43
France 60 53
Germany (West)56 53
Greece 60 50
Guatemala 40 34
Hungary 60 50
India 60 50
Indonesia 50 35
Iran 90 75
Ireland 65 56
Israel 66 48
Italy 72 50
Jamaica 58 33
Japan 75 50
Korea (South) 89 50
Malaysia 60 45
Mauritius 50 35
Mexico 55 35
Netherlands 72 60
New Zealand 60 33
Norway 75 54
Pakistan 55 45
Philippines 70 35
Portugal 84 40
Puerto Rico 79 43
Singapore 55 33
Spain 66 56
Sweden 87 65
Thailand 60 55
Trinidad and Tobago 70 35
Turkey 75 50
United Kingdom 83 40
United States 70 33

[Moosilauke]

Please show me where 60% comes from.

Probably referring to "marginal tax rate". Here's one source.