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A Very Basic Look at Taxes - Between Denmark and USA 

Travelin' Young
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19 авг 2024

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Комментарии : 1,2 тыс.   
@MrDumbdane
@MrDumbdane 3 года назад
i'm a 41 year old electrician living in the cold western parts of jutland, and 2 days before the first lockdown in 2020, i was fired from the project i was on because the project was finishing and we were too many electricians on the site. que a couple of months living on union support. time spent researching me getting more education. So i settled on an ap degree in service engeneering. 2 year business academy schooling, that is free education, and i get paid by the state to go to school. I know, im not living in luxury right now, but i am getting an education. paid by taxes. so that i can earn more money, and therefore pay more taxes later on. btw my S.O. is doing the same, and is on her way to getting a bachelor in pedagogy. also tax paid. so she eventually can pay more taxes. just my 2 cents. sorry for it being long. TLDR: i'm old and getting free schooling.
@GreenLarsen
@GreenLarsen 3 года назад
Thats a good point, atm you need help from the state (so all of us paying into it), but it will result in you being able to help others at a later date. Its imo the difference between a short-term and long-term economy view from the states PoV.
@juliamorales6620
@juliamorales6620 3 года назад
Your system sounds good but I would have to analyze carefully before I come up to a conclusion. I know when I was a young teacher the union sent all young teachers to seminars on Saturdays so that we could survive teaching on the ghetto. I was paid $44.00 and lunch.
@argantyr5154
@argantyr5154 3 года назад
Also the part with education paid through taxes, also have the benefit that if you are from a low income family, it still gives you the opportunity to get an education no matter the numbers in your parents bank account. The part about we are getting paid to study, its not amount that will make you rich, but it does so that you can survive with having a fulltime job, even though most people prefer to have some kind of extra income, like working in a supermarket, gas station, or similar after school and some hours during the weekends. You can also get a cheap loan from the State while you study. The most important point to me, is that everyone can get an education, and lets face we (in the West) cannot compete with Asia when it comes to salaries, so we need education and knowlegde to be a head or competitive with them.
@GronTheMighty
@GronTheMighty 3 года назад
@Archytas Repentus You're should source those numbers, because they're not credible on their own just from your say-so, and it is generally wise to consider how statistics are gathered and the psychology of doing so especially with children. I think the numbers you've found were from the polling done in Greenland rather than Denmark, but again the self-reported numbers alone don't tell the whole story. Younger children in particular are very prone to reporting bias, and when it comes to the polls surrounding nutritional intake and hunger, they show strong tendencies towards a negative bias when being denied excess candy/desert after meals. The measurements of available blood nutrients and body index tell a more unbiased story that there is no real food scarcity in Denmark, quite the opposite, but Danish parents have been putting increased emphasis on limiting unhealthy foods in response to the growth of obesity, and kids resent that strongly of course. The prevalence of undernourishment is exactly the same between the USA and Denmark, both at 2.5% Coincidentally, the prevalence of obesity in the USA compared to Denmark is about 16% higher as a per-capita ratio(37,3% of the US population vs. 21,3% of the Danish), and the obesity-related mortality rate is about double in the USA compared to Denmark(34,35 deaths pr. 100k population in Denmark vs. 71,95 deaths pr. 100k population in the USA). That's maybe one to let sink in for a little while :s Sources: foodsecurityindex.eiu.com/ and ourworldindata.org/ Have a nice day :)
@argantyr5154
@argantyr5154 3 года назад
@Archytas Repentus I would really love see the source behind those numbers.
@sie7995
@sie7995 3 года назад
This was very interesting from a Danes perspective. I actually thought the taxes was WAY lower in America. I love the Danish system, and the safety in knowing, that if my children, husband or I ever need medical help of any kind, I don’t have to hesitate to se a doctor or call an ambulance if it’s needed. Thank you for the simplified explanation, even though I know that there’s more to it. 🙏🏻😊
@juuk3103
@juuk3103 3 года назад
Yup worth the tax when you look at it like that and remember how the rest of the world is, or getting humbled.
@Einyen
@Einyen 3 года назад
Yes, I also thought the US taxes were tiny compared to Denmark, it always seems like people are shocked learning about our taxes.
@mathiassrensen5328
@mathiassrensen5328 3 года назад
Nej vi betaler alt for meget i skat, som bliver brugt alle muglige ligegyldigt lort, fx jobcenter som på ingen måde virker, og DR hvilket er til grin at have en national tv station, der ikke engang kan se neutralt synspunkt
@sirbattlecat
@sirbattlecat 3 года назад
Same here. I actually thought Americans only paid like 8% taxes. Perhaps that's the VAT (or moms).
@fungamesandstories
@fungamesandstories 3 года назад
@@sirbattlecat between 8 to 10% is actually the tax ( or vat) to anything you buy. For example, in IL, let's say you have 20$ worth of groceries, at checkout you will actually pay 22$. If you want to buy a tv for 500$, it will actually be 550$
@LazyJack2003
@LazyJack2003 3 года назад
As a German living in Denmark (and - basically - liking it) I often fall into the trap to complain about the danish taxes, even though I know, what we are getting for it. So, even though you compared with the US it the clip helped this grumpy German to be less grumpy. ( I still have plenty to be grumpy about when comparing car prices between Germany and Denmark, though... lol) - Thanks! Nice video, well narrated!
@jacobpedersen653
@jacobpedersen653 3 года назад
The good thing about more expensive cars, is that you have a greater chance of driving a car, without traffic jam. Too cheap cars can lead to too many cars, that lead to traffic jam ;)
@LazyJack2003
@LazyJack2003 3 года назад
@@jacobpedersen653 You are absolutely right, Jacob. As someone, whose patience has been tested by traffic jams in Germany for decades I still enjoy the fact that one can plan a car trip to anywhere in Denmark, without consulting the traffic news first. And due to the danish working hours even the rush hour can be neatly timed and factored in. Impossible in Germany , with its permanent "rush hour" - or rather, rush week. I am quite happy that my own two adult kids are not as car-crazy as I and my sibblings were when we got our license. We now own only one car - and 3 e-bikes! (But, damn, could that one car not be a little flashier & stronger ... and cheaper ... ...lol .... says my grumpy old german self, that considers it a birthright to any self-respecting German to have a flashy, mean race machine! :) )
@JP-xd6fm
@JP-xd6fm 3 года назад
@@jacobpedersen653 Making cars so expensive just means only rich can have cars, that's BS. There's any other way to keep traffic jams under control without screwing ordenary people in the way (ordinary means those who don't make 50k dkk every month)
@Pr0x1m1f1c4710n
@Pr0x1m1f1c4710n 3 года назад
@@JP-xd6fm Why would it mean that? I come from a piss poor Danish family and we just got cars that cost 5k dkk. It just means that good and safe cars are for the rich. That's all.
@JP-xd6fm
@JP-xd6fm 3 года назад
@@Pr0x1m1f1c4710n No, not only safer cars, also greener cars, a 5Kdkk car for sure has a high green tax every 6 months, the consumption of fuel is also higher. Is not fair and not logic. Also if you live in the country side (no metro available) having a car is a must. I don't know why the hate for a car from the gov. honestly, I just want them to be greener and afforable for everyone. I do love Danmark and paying Skat, but I don't get it about the cars.
@kalvinlyle
@kalvinlyle 3 года назад
I’ve lived in Canada, UK, Germany, Denmark and now Finland. My total take home amount in each country after taxes and health care was almost exactly the same %
@kalvinlyle
@kalvinlyle 3 года назад
In the UK there were a lot of hidden taxes, like as a renter you pay the property tax or council tax that in other countries you would pay as the property owner.
@MylarBalloonLover
@MylarBalloonLover 3 года назад
Denmark has too high taxes, Germany is cheaper.
@MylarBalloonLover
@MylarBalloonLover 3 года назад
@Lukas Ibsen yes it do... I hate paying taxes
@MylarBalloonLover
@MylarBalloonLover 3 года назад
@Lukas Ibsen how is it superiority to pay $25 handling fee and 25% sales tax of packages from America?
@cgi2002
@cgi2002 3 года назад
@@kalvinlyle that cost isn't really hidden, in the UK it's clear and open that the occupier pays the tax unless clearly stated otherwise in your rental agreement. In the US it's a hidden tax for renters in that its included in the rent, hence why the US has far higher rents. Key difference however is in the UK the renter can get deductions on that tax depending on their personal circumstances, in the US the landlord may get a deduction (if that's even possible), but they won't pass that on to the renter, they pocket the difference.
@nicolaiandersen7617
@nicolaiandersen7617 3 года назад
This is hands down the best, most understandable and accessible explanation of a very complex topic I have seen. As a Dane who used to teach US History and Social Studies at College level (here in Denmark), I wish I had come up with that. I was struggling hard with graphs, charts and pictures, trying to make this relatable to my students. Most of them still just looked puzzled and continued to obsess about the cost of random types of medicin in the US; which is a factor to be sure, but you describe very well how it's just a small piece in a puzzle.
@TravelinYoung
@TravelinYoung 3 года назад
Thanks for this, I am glad you liked it.
@JacobSChristensen
@JacobSChristensen 3 года назад
On a very important note! When you guys mentioned saving up for college, and the possibility of having to increase debt in the US, in Denmark you actually get money for studying. Almost 1000 dollars per month. That’s an important part of the tax system, it’s actually one of the biggest tax brakes in Denmark, that you get money for studying. Even if you go to high school above the age of 18, you get paid a small amount every month 😊
@alexander-it6mx
@alexander-it6mx 3 года назад
That is only if you live by yourself, away from parents. Most people studying will only receive between 150-350 USD, if they live with either both or 1 parent. But that is still something! And it's way better than nothing lol.
@JacobSChristensen
@JacobSChristensen 3 года назад
@@alexander-it6mx didnt go the universitet with anyone who didn’t live by themselves. It’s very uncommon not to live by yourself when studying at the university level. And you still get paid, just a little less. So no matter how you look at it it’s still a tax break
@Chewmybaccas
@Chewmybaccas 3 года назад
du glemmer så at en der studerer ikke tjener 50k om måneden, så det ville aldrig blive en ting i den her udregning ;)
@NordiskSocialisme
@NordiskSocialisme 3 года назад
@@Chewmybaccas man er barn af en som gør!
@runenexman6587
@runenexman6587 2 года назад
Correct, BUT... normally you can't live out of this amount unless you live at your parents house. You'd probably need a state guaranteed loan called SU (student support), which normally is around 5000 Kr (800 $) a month. This will be deducted through taxes.. My dept for the SU was around 100.000 Kr in 2010.. still owe some
@SirAmodelcarxofar
@SirAmodelcarxofar 3 года назад
Great video! I think it's important to mention that, when you are unemployed, you are still full covered by sanitary system in Denmark, and I guess, in USA, when you stop paying the insurance, you are not covered anymore.
@Zull108
@Zull108 3 года назад
Another thing to remember when mentioning health care is medication, in Denmark there is a ceiling for the amount you will pay. Depending on the medication and your needs, you might get 75% or more in discount.
@tanjaliljeqvist143
@tanjaliljeqvist143 3 года назад
Expenses from 0- 1010 DKK you get 0 /zero help ie. You pay it all yourself. Between DKK 1010 - 1685 you get 50 % help /grant Between DKK 1685 - 3660 you get 75 % covered. Between DKK 3660 - 19.851 you get 85% grant /help Above DKK 19851 you don't pay anything. The medication is free of charge. These numbers are valid as of 2021. It's a lot of money DKK 19851 is the equivalent of 3.179 USD. But I myself do get over that amount every year, so my last medication of each yr is free of charge.
@saschadibbern339
@saschadibbern339 3 года назад
To take these taxes into restaurant terms: In the US the taxes are mainly paid for "á la carte" services, where you don't know, if the food you get will match your taste and your belly later on. While in Denmark you pay the "all you can eat buffet". You pay a bigger initial sum, but you definitely can pick your favorites and stay healthy later on and don't go hungry home.
@renemortensen5028
@renemortensen5028 3 года назад
i loved that. definatly gonna steal that :D
@fthorup
@fthorup 3 года назад
So not accurate. In the danish system you can NOT pick and choose. You are often stuck with only one option. Unfortunately not always a good option. You have very limited way of paying extra for another solution - you are stuck with what is provided
@tinagraabkstorm8135
@tinagraabkstorm8135 3 года назад
Many ppl think we pay a lot in taxes here in wonderful Denmark. Thanks for explaining it that well😊
@mwtrolle
@mwtrolle 3 года назад
We do, but we also get a lot from them. I pay them gladly, but the richest people and big companies that get away with avoiding to pay their tax do to the use of tax havens piss me off, and make me be bit less happy about paying my part. Especially here in the pandemic, when manny of those companies are getting Danish tax money as support to stay a float, I know it’s hard to avoid as of some stupid EU laws. But it’s still not OK.
@mathiassndergaardjrgensen4751
@mathiassndergaardjrgensen4751 3 года назад
@@mwtrolle Simply not correct that companies and people avoid paying taxes. If you are holding assets in Denmark, then they are taxable and it's not possible to avoid paying those. Companies that use transfer pricing is a net benefit to Denmark as concluded by the Danish Ministry of Finance because we have big corporations such as Novo Nordisk, Mærks etc. that can transfer income in foreign countries to Denmark as the asset/service (eg. creation of the medicine or creation of transport system) was invented in Denmark and not in the country of operation. That is a international taxation law that allows foreign companies to do the same, but if we were to exclude ourselves from that agreement Denmark would lose tax income as we are dependent on international trade. See: www.ft.dk/samling/20191/almdel/SAU/spm/317/svar/1643479/index.htm Regarding the support money (e.g. compensation) you are not correct. The money doesn't go to the owners as profit, it is legally bound to go to salaries and fixed expenditures (e.g. salaries to danish people employed there and danish companies supplying goods to those companies).
@tixximmi1
@tixximmi1 3 года назад
You do pay a lot in taxes. Your VAT is 25%. And try to get an MRI in 5 days, you're wait can be months.
@yaboyis2236
@yaboyis2236 2 года назад
@@tixximmi1 It took me 1 week to get a time for MRI AND a CT scan so I don't know where you pull this bullshit from
@tixximmi1
@tixximmi1 2 года назад
@@yaboyis2236 My information came from the Danish Government (medical) about 3 years ago.
@erinmcdonald7781
@erinmcdonald7781 3 года назад
Delightful and educational! This is the best/simplest explanation of the differences I've seen, a definite share to show people here when discussing healthcare or education, both of which are currently breaking our backs. It's great that you're truly a "family" channel. Looking forward to checking out more of your content! 💚✌️😸
@TheAlkochef
@TheAlkochef 3 года назад
Getting acclimated to liqourice, loving it.
@PeachIntoxication
@PeachIntoxication 3 года назад
@@Skedge salty or get it away from me 😂
@christinehjorth9559
@christinehjorth9559 3 года назад
Lmao... Best gift to Americans 😂😂😂👏👏👏
@catboynestormakhno2694
@catboynestormakhno2694 3 года назад
tyrkisk peber > all other forms of licorice
@etnavntak
@etnavntak 3 года назад
Came for the wonderful explanation on taxes. Stayed to see two adults drinking alcohol meant for rebellious teenagers! Love the content keep up the good work!
@TravelinYoung
@TravelinYoung 3 года назад
Haha!
@rodgrod1999
@rodgrod1999 3 года назад
Thank you for the comparison between the two taxing systems. I hope it is okay if I were to use this in my English classes, to give the students a better idea of how it works. It's always fun to follow you guys, I suddenly discover all these places that I should visit here in DK.
@TravelinYoung
@TravelinYoung 3 года назад
Definitely, btw, Søborg is nice also :). We lived there when we first moved to DK. Thanks for the kind words!
@mro5858
@mro5858 8 месяцев назад
No videos better than this explain minor & major differences in income and social security taxes between the US and Denmark. Thank you!
@oakdk4075
@oakdk4075 5 месяцев назад
LoL no there is not and certainly not in the US... Have u seen US, some places is like a 3 world country.....!!!!!!
@KoldingDenmark
@KoldingDenmark 3 года назад
Let me hug you for putting it so clear and simple.
@JohnDoe-bd5sz
@JohnDoe-bd5sz 3 года назад
The problem is that in reality it IS not THAT simple. A lot of stuff was left out, that makes this video kind of totally wrong.
@zenogstwitch8296
@zenogstwitch8296 3 года назад
@@JohnDoe-bd5sz they were trying to make USA tax system look at least slightly plausible. He did not mention that there no vacation days in USA or that in Denmark you get payed to study or that you are completely covered if you lose a job. They did not wish to start the debate and left those things out. The basic description is enough and if some one wish for more details they can research themselfs
@JohnDoe-bd5sz
@JohnDoe-bd5sz 3 года назад
@@zenogstwitch8296 The problem is that if you "dumb down" the debate and omit stuff that really affect the real "How many % of my income goes to taxes" then the comparison gets skewed. It is easy to see that they want to give an impression that people in the US and Denmark sort of pays the same % in taxes and this is really not the case.
@mortenchristiansen2678
@mortenchristiansen2678 3 года назад
Very nice video! I liked that you compared 1:1 US (Illinois) taxes to Danish taxes - it gives a very nice idea of the differences in the direct taxes. It is however very important to take the VAT into account as it is a considerable amount in Denmark, along with all the other taxes and tariffs on different products. We got a special tax on nuts, we tax the air in softice, along with the sponginess of the cream in a "flødebolle". Gas is taxed 100%, and cars are taxed between 80% and 150% depending on the purchasing value before taxes. Not to mention the taxes you pay just to own a car! We might have a taxation system that doesnt look to bad, but we tax consumption very heavily. One thing that is important to consider is that you might be paying for Maya's college. But when that bill is paid you're done paying for it. And if Maya decides that she doesnt want to go to college you wont have to pay for it at all. In Denmark you will pay for college for as long as you have an income.
@-Suie-
@-Suie- 3 года назад
ive been saying for years americans dont pay much less taxes (espec with the sales taxes on top) nice to see it in this easier way
@Solfalk
@Solfalk 3 года назад
We have sales taxes in Denmark as well, they are just included in the price.
@-Suie-
@-Suie- 3 года назад
@@Solfalk det hved jeg godt men i us er det ikke samme i alle stater plus "tips"så folk kommer op på mini lön
@cgi2002
@cgi2002 3 года назад
US has some weird tax laws for expats too. You still have to file taxes in the US every year even if you don't live there aslong as you hold citizenship, meaning you can be required to pay tax in the US ontop of what you pay in your country of residence. Can't think of any other country that requires its citizens to file taxes if they don't even live there, or that can tax you on income earned outside the country at all.
@CharlesLeeRay79
@CharlesLeeRay79 3 года назад
Sales tax in Denmark is 25%
@Frylund
@Frylund 3 года назад
Great explanation and good choice keeping it simple. Could be interesting to do one with cost of living next? House, car, food etc. Thanks for a great channel 🖖
@TravelinYoung
@TravelinYoung 3 года назад
Yeah, I think a cost of living comparison would be interesting. We’ve also lived in 3 distinctly different places in the US so we could show variety.
@imajinallthepurple
@imajinallthepurple 3 года назад
Though you have to remember that living in Copenhagen is significally more expensive than anywhere else in Denmark...
@thomasbonde2118
@thomasbonde2118 3 года назад
And include insurance cost for Car, Health, house, etc
@smokesomekeefelbandido2184
@smokesomekeefelbandido2184 3 года назад
Denmark is the most expensiv country to have a car in, in europe
@mortenreippuertknudsen3576
@mortenreippuertknudsen3576 3 года назад
@@smokesomekeefelbandido2184 It's also the country in europe where a car is least necesary
@imajinallthepurple
@imajinallthepurple 3 года назад
The best tax explanation i've seen to date. Godt gået! 😄👍
@jenslarsen5859
@jenslarsen5859 3 года назад
Don´t forget - You will get your payments to ATP back when you retire - its a pensionfund - nice narrator voice, very soft.
@Softpaw1996
@Softpaw1996 3 года назад
nah, you'll get SOME of it. Tax daddy takes a cut.
@lmutley
@lmutley 3 года назад
you forget if you have a private pension or money in the bank . that is also partly deducted from your atp pension.
@Softpaw1996
@Softpaw1996 3 года назад
@@lmutley even better. Not.
@Michael-Archonaeus
@Michael-Archonaeus 3 года назад
If you ever get that old, many don’t
@mwtrolle
@mwtrolle 3 года назад
@@Softpaw1996 that’s because you then don’t have to pay tax of them right away. Meaning that you at the time you get it back can use your tax deduction and also make less so that your tax draw percentage will be lower. So dint your comment kind of weird.
@MachivelianBear
@MachivelianBear 3 года назад
If you ever go to Frederikshavn in Jylland. There is a restaurant called Jerry’s there. It is owned by Jerry. He is an American from Seattle that has lived here for about 15-25 years i believe. One of the most nice guys i have ever met. Genis truly the master of adopting ‘the Danish way of life’. He also intens helps other Americans that have moved here. So if you are ever in Frederikshavn. You gotta go to Jerry’s!
@dwaynebruny
@dwaynebruny 2 года назад
His name is Erik, he moved to DK from California, has a Danish father, and he's been in DK over 30 years. I met him in '93 when he had his first, smaller restaurant. I've eaten at his new place several times, including a visit last year. He's an awesome guy.
@johnkristian
@johnkristian 3 года назад
50.000 DKK is a relatively high salary.
@kruse3948
@kruse3948 3 года назад
great explaining mate, I'm danish and it was useful to understand the American tax situation
@MichaelBack2702
@MichaelBack2702 3 года назад
All the best to Miranda healing her knee!!! Another great video from you guys. Thanks. You are soon Danish celebrities! A little tip for the Turkish Pepper shot. Freeze it first. Then it’s actually quite nice. Takes the edge off.
@JacobWDalsager
@JacobWDalsager 3 года назад
We do need to factor in cost of living and specific taxes on products, food, fuel and vehicles, etc. Simply looking at the basic salary-based taxation is not quite enough to cover the topic.
@WGRaSlayer
@WGRaSlayer 3 года назад
And those are really expensive in DK
@alexpedersen4783
@alexpedersen4783 3 года назад
Agreed, there are additional taxes baked into the price of that. 25% VAT comes to immediately to mind :)
@cmcmcul
@cmcmcul 3 года назад
Thank you, this is SUCH a great explanation. You made it really clear why it is that taxes are high - i.e. you GET A LOT for them, which is so important to point out.
@Pernilleed
@Pernilleed 3 года назад
Nice presentation of the tax systems. I think one of the most important points of the danish tax and welfare system is that it is completely unprejudiced and acts as a safety net for everyone. Everyone, no matter their background or their families income, have the right to the same pension, health care system, and if you get fired, the state will also support you, so you don't have to rely on e.g. food stamps to even sustain yourself. Education is free for everyone as well, and everyone is entitled to recieve the State educational support grant (~1000$ a month) for at least 5 or 6 years while under education, which means that everyone has absolutely equal opportunity to get an education, and even get paid to do it. Personally, I think countries with these systems are truly the lands of opportunites. Thanks for all your videoes, I really enjoy them - you guys should do a Q&A soon! Hope Miranda feels better and best to all of you!
@TravelinYoung
@TravelinYoung 3 года назад
Planning a Q&A when we hit 10k subs. Would be a fun way to celebrate together :). She’s getting better!
@eldonso
@eldonso 3 года назад
Dane here :) Great comparison! Very easy to understand. And it shows that you simply can't compare tax percentages without looking at other things including health insurance, education etc. I can't imagine the stress put upon me having to be nervous about getting treatment, risking a health decline etc. Everybody having the samt possibility to get an education is important as well, I think. And thanks for your videos. Love watching them - and you're very sympathetic, can't help liking you :)
@TravelinYoung
@TravelinYoung 3 года назад
Thanks! It is stressful which I think reduces happiness :).
@juuk3103
@juuk3103 3 года назад
@@TravelinYoung Yea and I read somewhere that an estimated 60-70.000 die in the US yearly from not going to the doctor/hospital in time because they feared the bill and didn't want to set their family in a bad economic situation by selling their homes to pay medical bills.
@JohnDoe-bd5sz
@JohnDoe-bd5sz 3 года назад
But then again, you can not compare taxes if you dont look at what is taxes when you decide to use the money you have left when income tax has been paid. Cars, petrol, electricity and so on are about 3 times as expensive as in the US. Also ,we pay a lot more in road tax, for example and there are a LOT of stuff that is taxed (Cigarettes, alcohol, sugar, nuts, chokolate, batteries, and so on).
@cgi2002
@cgi2002 3 года назад
@@JohnDoe-bd5sz while that's all true (same with alot of places outside the US), there is also a better safety net system in place. In the US you break your leg and are off work for a month, that is probably unpaid, in Demark you get paid sick pay for that month. Worse still, you lose your job, in the US that means you lose your health insurance, that limits your medical cover massively. In Denmark you lose your job, you still get treated the same way as before. So for a significant illness you recover quicker, can return to work faster, and get back to earning money rather than increasing debt just to get the care you need.
@JohnDoe-bd5sz
@JohnDoe-bd5sz 3 года назад
Only employees have paid sick leave pay, if you are a business owner, contractor or so on, you get no money. Also the money that i would get in sick leave is paid for by my employer, and only if my sick leave exceeds 30 days can the company apply for sick leave compensation from the state. The amount my employer will get is not the full amount they pay me. So most sick leave has nothing to do with taxes, but is paid out of my employer's pocket. Because of an ineffective hospital system, people often have to wait longer for treatment, so a lot of employers actually take out private health insurance on their employees. The company i work for has a seperate health insurance so if i get sick, it is most likely that i would be sent to a private hospital here in Denmark for treatment, so that i can get well and start working again a lot faster than if i had to wait on treatment in a normal hospital. I just checked and in 2019, about 33% of all danes had a seperate private health insurance ,either paid for by their employer or by themselves. So much for your theories about our health system being really good and no one needing health insurance. But honestly, i dont even have a problem with paying tax for hospitals, roads and so on. It's all of the other stupid things and inefficiecies, that makes it so expensive. There are so many stupid rules and regulations that is made by the very same people that is then hired to administer these rules. People making up rules so they have something to administer and thereby a job. There is no seperation between "Need to have", "Nice to have" and "Nice for the people that are employed in that department, to have"
@mathiassndergaardjrgensen4751
@mathiassndergaardjrgensen4751 3 года назад
For detailed future video: Regardless of the amount of income, you forgot to account for the accumulated marginal taxes as goods and services are significantly more taxed in Denmark compared to US. Furthermore, with an gross income of 50.000 DKK a month (50.000 x 12 = 600.000; 'topskat' is income > 544.800 in 2021), you would be eligible to pay 'topskat' giving a marginal taxation of additional 15% for any additional income above 544.800 DKK). I believe the highest accumulated top marginal tax in the US is 37%, correct me if I am wrong - whereas is would be ~63% in Denmark (48+15)
@christianwagner1404
@christianwagner1404 Год назад
Tak! blev virkelig irriteret over hvor forkert deres beregning var.
@genford
@genford 3 года назад
Im so happy that you call it kroner and not crowns. Thank you!
@koiyujo1543
@koiyujo1543 8 месяцев назад
This is a really good way to show how that you take home more in terms of wages in denmark than you do in America because pretty much everything is payed with taxes so you normally don't have to worry about so many kinds of taxes.
@danishnande9629
@danishnande9629 3 года назад
Public healthcare is definitely an interesting topic. The US actually pays significantly more per unit of health than any other nation on earth. On another note I would be very interested to see a comparison on 'Rådighedsbeløb' which is what you have left when all monthly expenses have been paid. This is often a much more telling parameter of how much you pay to live in a country.
@simonhall4178
@simonhall4178 3 года назад
Interesting for me (a Dane) to get a quick view on the US tax system. BUT don't forget: - In Denmark we pay 25% VAT (moms) on EVERYTHING we buy. Food, household stuff, utilities etc. - In Denmark we pay 150% car tax - +25% VAT - In Denmark we have a whole lot of taxes, some very odd, egg. for the air in softice and in champagne (not kidding) - In Denmark we pay 27% tax on capital gains up to 56.500 DKK (9.172 USD) and 42% on capital gains over 56.500 DKK - In Denmark we pay a lot of customs for goods imported from outside the EU valued more than 80 DKK (13 USD) All this is not included in the tax, but something you can't avoid on a daily basis :)
@flipyourprick
@flipyourprick 3 года назад
Ja, hvis man regner alle afgifter med, så er billedet jo et helt andet. Nominelt er skattetrykket jo væsentligt højere i DK
@flagermusen
@flagermusen 2 года назад
You are correct and it is absolutely misleading not to include these taxes in the video. 25% VAT alone is nuts, and gas, electricity, water is so much more expensive too. This video makes Denmark seem reasonable when it is in fact a taxation nightmare because the cost of living is so much higher.
@hejmuesli
@hejmuesli 3 года назад
Can you talk about your living situation? Are you renting? Did you buy a house? How did you go about choosing where to live in the Greater Copenhagen area?
@thomasbjarkeheiberg-iurgen4867
@thomasbjarkeheiberg-iurgen4867 3 года назад
What an insightful breakdown and comparison! I can resonate with your "question mark" reflections, as I must admit that I was shocked that my Student Blue health insurance - which I already thought was overly expensive - left me to co-pay almost $20.000 for an appendicitis surgery. I hope you guys are doing well here in Denmark, and I look forward to seeing your next posts :)
@TravelinYoung
@TravelinYoung 3 года назад
Thanks we are doing great here!
@thomasbjarkeheiberg-iurgen4867
@thomasbjarkeheiberg-iurgen4867 3 года назад
@@TravelinYoung it does indeed look like that too ;) Also if you're interested, I think a good addition to your try-it-out Tuesday could be the addition of some of the very Danish drinks! I.e. Filur Isbjørn Brandbil (med udrykning) Skumbanan Æblekage Kung-fu These are all drinks you are likely to find made by some amateur batender at a family birthday/wedding/high school party. They're all quite culturally Danish, and I would gladly help you find the right recipes :)
@skinke280
@skinke280 3 года назад
Well done explaining the basic differences. Scandinavian countries build on the same principles, but varies on what is being taxed, like taxes on buying a car is far more in Denmark than in Sweden. Also I love your videos, keep it up.
@TravelinYoung
@TravelinYoung 3 года назад
Yeah, taxes on cars is rough in dk. Thanks will do!
@kristianhartlevjohansen3541
@kristianhartlevjohansen3541 3 года назад
@@TravelinYoung it’s evident that there has never been a danish auto industry 😉
@carstenf279
@carstenf279 3 года назад
Great video - thanks. I know you already mentioned VAT/Sales tax, cost of living etc. But that makes a huge difference - so I hope you will cover it later - because once you start comparing what you can actually get for your USD/DKK - America comes out on top.... waaay up on top. In Denmark we have 100's of taxes on various things - just to mention some of the significant ones: Valueadded tax - 25% on top of everything you buy, Energy tax (fuel for car / heating the house / electricity etc) - approx 100% on top of the actual price of oil/gas/electricity Water tax approx 1-2 usd per 1 cubic meter of water BUT to get rid of it you also pay a tax which is approx 5usd per cubic meter of water. USD 1.000 per year for a small family - or more if you like long showers. Automobile registration tax: Approx 100% on top of the actual price of the car - if its an average car. Luxury cars has a tax closer to 130%. PLUS VAT! (yes - you also pay vat on the tax!) Property tax: For an average home in Copenhagen area USD 6-8.000,- per year. Cheaper away from CPH - (or if you only have a cheap cottage) Special smaller taxes are placed on 100's of different items. Liquor, nuts, chocolate, softdrinks, insurance policies - and I could go on and on and on..... The sum of all of the above means that life in Denmark is way more expensive than in the USA .... unless you HAVE to live in the Hamptons. I still prefer our system, though - but just barely... :o)
@christinaheiberg1625
@christinaheiberg1625 3 года назад
I agree. We actually feel poor, even though both me and my husband are high income yearners. We have chosen not to own a car, we live in a very small apartment. Need to put a lot of money aside to pay for our pensions (beside the actual pensions, that we are not really counting on, as we will be in our 70’ies...). Want to retire at 60. We also need to pay for private health insurance, as the quality of the official system is often terrible. Sorry to say, but we will probably immigrate in a few years. Life is simply too short.
@Zandain
@Zandain 3 года назад
I knew about the taxes and that the US essentially pays more and gets less, than we do here in Denmark. I prefer the DK way, bc it includes paid vacation, paid maternity leave for women/men..and so much more Try it Tuesday suggestion: Filur ingredients for 1 person, although Danes usually get it served by the pitcher, at bars 2 centilitres of vodka 6 centilitres of freshly squeezed orange juice 6 centilitres of red sodavand Ice cubes 1. mix vodka & orange juice 2. slowly, pour the red sodavand, so that the colors don't flow together (even though some will, of course) 3. Serve ⚠️ warning ⚠️: can be addictive! 🤣
@00wheelie00
@00wheelie00 3 года назад
They also didn t even touch on what happens when you lose your job. Which is also included in the taxes you pay and is a much better 'deal in Denmark.
@agerbaek01
@agerbaek01 3 года назад
Remember to shake the bottle :). If you havent noticed, the danes like liquorice :D
@christofferlykkeandersen5368
@christofferlykkeandersen5368 3 года назад
Intresting to see the little difference there is? As other has mentioned in the comments, I thought the taxes in US would be much lower in comparison danish taxes.
@cgi2002
@cgi2002 3 года назад
They can be, depending on state, some states have lower (or higher) rates if state tax. Same with sales tax, The US doesn't have uniform sales tax (and it often isn't included in the price you see on the shelf), Denmark has a fixed rate or sales tax and it is automatically included in the shelf price, you pay what you see, no need to do math yourself.
@xana4ok
@xana4ok 3 года назад
The registration tax applied to new cars in Denmark is value-based and amounts to 85% of the car's taxable value up to DKK 197,700 (€26,500), and 150% for the value above.
@theFirstAidKit
@theFirstAidKit 3 года назад
Best part about taxes in the Nordic Countries is the fact that you pretty much only benefit from them before paying anything. In Finland, a child gets cheap/free daycare, free schooling, free healthcare, cheap public transport etc all the way up until you are ready to go to work. It really comes evident of how great the system is when you are in college/university and the government pays for your living and the schooling which could costs tens of thousands in the US. Sure the benefits don't pay for everything, they mostly cover the rent, but you are also able to get government backed student dept for an extremely low intrest rate which you only need a little of. Then if you don't immidietly land a job after school, you also get help and benefits until you do. At that point most people are pretty content to pay taxes.
@RHelenius
@RHelenius 3 года назад
I find your interpretation interesting, as a dane I would love to know what cost of living is comparably. Also, progressive taxes seems to be something you might need to add if you do a Taxes 2.0 video.
@nickiandersen2054
@nickiandersen2054 3 года назад
According to this source we are very much comparable on the bottom line. It doesn't include welfare expenses though (i think). Except for the fact that it is accounted after tax, and obviously those are covered in ours. www.nationmaster.com/country-info/compare/Denmark/United-States/Cost-of-living
@DerekF-u7e
@DerekF-u7e 3 года назад
It's very difficult to compare given the vast differences in cost of living from city to city, state to state in America.
@AZambri1
@AZambri1 3 года назад
Living in the mid-west (Illinois) like these folks were doing before moving, their cost of living was less than where I live, for example. I am on the East Coast of U.S. in New Jersey. One bedroom apt cost $1050 a month, plus approx. $60 for electricity. $150 for a TV cable package (which I ditched and now do live TV streaming for much less). I spend between $300 and $400 for food every two weeks (!) for two people and 2 cats. Car insurance is between $1300 and $1400 per year. I don't have children. I get health insurance coverage through my employer, but we have an out-of-pocket deductible of $2000 per year before anything is covered. The good news - you can set up a health savings account and have an amount of money you choose to deposited straight from your check into an account that can be used towards coverage of out-of-pocket health expenses.
@thomasbaagaard
@thomasbaagaard 3 года назад
College. Not only do we not pay for college... we actually get paid to study at college. (about 1.000 USD pr month)
@jacob3257
@jacob3257 3 года назад
@Port Sap ??? Their is a more equal economic distribution in Denmark than the US (meaning that more people have money to spend). You are getting paid “kontant hjælp” when you don’t have a job. And wages in Denmark are better than in the US, so yes things are more expensive, but that is because there are more people to buy the products that also have enough money for them.
@thomasbaagaard
@thomasbaagaard 3 года назад
@Port Sap I sure hope you are just a troll... because other wise you are the most stupid person I come across in the last week... I where on unemployment benefits for a period... funny how always where able to pay my bills for electricity.. and heating. (and there is no outage like se see in 3rd world countries like parts of the US), and buy the sweets I like and soda and the food I like.
@thomasbaagaard
@thomasbaagaard 3 года назад
@@jacob3257 yep. I looked at a job at a civil war battlefield museum in Virginia. It required a BA in history and experience teaching children history. (I got both) 40 hour workweek, no paid vacation, no "childs first sickday" no pension, no healthcare... And the monthly wage was less than what I got then on Kontanthjælp.
@jacob3257
@jacob3257 3 года назад
@Port Sap I think you misunderstand. There is no economic apartheid. The poor in Denmark have money for quality food, candy, cakes, electricity, heating etc. Also there are higher taxes the more you earn. If you earn a low wage you might have to pay around i think its 30-35% if you earn a high wage you might have to pay around 60% i believe (no sources for this so don't quote me on it). People are not left out of "the party" as you call it. We have a social security network that makes sure that everyone who doesn't have a job gets enough money to pay for everything they need. I really do not see how you can find this economic apartheid. Sure the tax on goods are the same on all the wares you buy, no matter if you are rich or not, but so is it everywhere else basically. Difference being that in Denmark, if you don't have enough money, you can get it from the government to help you.
@jacob3257
@jacob3257 3 года назад
@Port Sap 1. Poor people get paid enough to cover basically all expenses. 2. You don't need a car. Denmark is a small country and there is public transport EVERYWHERE. It has a low cost even when travelling between different parts of the country. You are able to afford it with what the government is paying you. 3. There is only quality food in Denmark. There are regulations on the quality of all food products. 3. I'm not rich, but am able to get by. Not going to deny that. 4. Yes, you pay high taxes and VAT, but where do you think the money goes to? Oh i know, to support the people that don't have enough money, 'cause of lack of job or something like that. It also goes to free education from elementary school to university. It also gives you free healthcare for everyone. 5. And of course it matters that you have to pay 25% VAT, but it doesn't matter to the degree that you can't live a decent enough life. If you are old enough you can take an education as well (for free) and get paid for it. You will earn enough money that way to live and to get a job in the future, where you can earn even more money.
@lawrencespoon3705
@lawrencespoon3705 3 года назад
Just a note to confirm your comments on taxes US vs Denmark. My danish bride and I retired in August 2018 here near Gedser, DK and have been much more financially happy here than in TN. So, your observations on the the cost comparison side goes further than just taxes. That was and is a good subject and I will share your youtube link with our US family and friends and hopefully help your youtube growth. Thanks.
@TravelinYoung
@TravelinYoung 3 года назад
Thanks, we appreciate it! While I made more money in the US, I am much more secure financially here. I think part is the actual money, but part is the psychology of where I spend my available money. That may not be the case for everyone, but for me having lived in a few states in the US and here, I have seen a positive change in my spending habits, security, and stress. Also, as a side note, Miranda and I are both graduates of MTSU and her parents still live in TN. I do miss it there!
@Hallreaver
@Hallreaver 3 года назад
As a Dane, it's interesting to get your views on the differences between the USA and Denmark, great video and you've gotten another Sub. Keep up the great work!
@TheDrunkyDwarf
@TheDrunkyDwarf 3 года назад
I really like your videos about our little country! If you guys get the chance you should visit Bonholm, it's got a greate history and cuisine
@renevilhelmsen4102
@renevilhelmsen4102 3 года назад
A important thing you forgot: incluted in the Danish fax, is the social security. If you get sick in Denmark you can get social security from the government. In US you loose your income ( unless you have paied for extra insurance (costly)). And you can get help to pay for home, tv, Telephone.. AND medicine.... And still have free hospital and doctors.
@tixximmi1
@tixximmi1 3 года назад
So why do over 12000 people travel from Denmark to the US each year for medical? How long must a person wait for an MRI?
@thomasbaagaard
@thomasbaagaard 2 года назад
@@tixximmi1 source?
@tixximmi1
@tixximmi1 2 года назад
@@thomasbaagaard Look it up I"m not your mother. Go to Government, Denmark
@thebattlefieldnick1
@thebattlefieldnick1 2 года назад
@@tixximmi1 12k people out of 6 million lmaoooo
@tixximmi1
@tixximmi1 2 года назад
@@thebattlefieldnick1 That same year only 4400 Americans out of 310,000,000 went to Denmark. Most were travelers that got their knees scraped and went to the hospitals. And those 12k is about 2% or the total population. The number is significant to those people who understand and know the system.
@okoustrup
@okoustrup 3 года назад
I like this comparison, I have lived and worked in US - at that time, I could see the real tax burden was very similar to Denmark. I were so lucky at that time, that the company paid for the health insurance and no deductibles or co-pay One thing you don't mention is the fact that you get Tax deductions for interest payments (all kinds), but in particular your morgage interest can make the tax much lower. And remember the tax pays to social welfare (you get paid each month - not much, but survivable if you are out of work, sick or otherwise don't have an income). You can, via the unions, pay for an unemployment insurance (which is deductable) so you up to two years get a higher income than social welfare Schools, Collegues and Universities are free of charges. The student housing has a low rental fee. And students are actually paid for studying. And we have free health care (incl. low-cost medicine) - it is possible to take an extra insurance so you're covered for the deductables or co-payments in medicine, dentists etc. - price app. 1.800 DKK per year per adult
@ryancreamer4591
@ryancreamer4591 2 года назад
From what I gather between Denmark and the United States is… Denmark mainly takes care of its own people and has strict immigration laws compared to the US which just throws money away
@Baekstrom
@Baekstrom 3 года назад
That liquor is not something to enjoy at home on a quiet evening. It is something you drink on a dare in a nightclub when you just want to get drunk and have fun.
@PrebenHollywoodTV
@PrebenHollywoodTV 3 года назад
speak for yourself
@marqann
@marqann 3 года назад
Says who?? So I don't go to nightclubs, so I can't drink this?? You're funny...
@baconfromhell666
@baconfromhell666 3 года назад
An important point I think should be mentioned, in Denmark (not sure how it is in the US) there's a good portion of money from your paycheck of which you need to pay no taxes at all.
@sine-nomine
@sine-nomine 3 года назад
Keep in mind that while the universities in Denmark have no tuition fees, it's not the only form of higher education. A lot of the other higher education cost a lot of money. I.e. akademiuddannelser, diplomuddannelser and masteruddannelser. Also not everything is included in our healthcare. I.e. medicine prescriptions and dental work for adults. We too have a lot of unexpected expenses. But if you have a monthly income of 50.000 DKK - which is insanely high - chances are it won't be a problem. The average income for all adults in Denmark, however, is around 31.000 DKK (5,096 USD) a month. I'd say cost of living is cheaper in the US. For instance: The vehicle registration tax alone is 150 % (and it used to be 180 %)! A gallon of gasoline octane 95 cost 7.53 USD (45,82 kroner) and a gallon of diesel cost 6,72 USD (40,89 kroner).
@henningmogensen9144
@henningmogensen9144 3 года назад
In the tax is also pension from 67. And this year I even got a once a year check ekstra.
@steenbronkegmail1
@steenbronkegmail1 3 года назад
6 weeks paid vacation. One year of paid maternity leave. And so on ...
@ConckConckConck
@ConckConckConck 3 года назад
Great video, really nice breakdown. One of the major differences you did not cover is the VAT/sales tax(Danish "Moms"). In Denmark its 25% and in illinois its 6.25%. That would make big impact on the disposable income for groceries and all other purchases. It can be hard to quantify as that amount would vary wildly per family, but its an important factor in the overall calculation and comparison.
@fthorup
@fthorup 3 года назад
And the taxes on consumables, like utilities, water, heating & electricity - all heavily taxed, even though they are a basic need. Having 25% sales tax on food (even babyfood) would be considered cruel in other countries. Then there is the story of taxes on cars in Denmark... 150%!
@JunkerOnDrums
@JunkerOnDrums 3 года назад
@@fthorup If you buy an EV theres no tax - only vat 25%
@fthorup
@fthorup 3 года назад
@@JunkerOnDrums oh no - its way more complicated than that... www.skm.dk/media/7451/faktark-om-prisen-paa-elbiler.pdf
@JunkerOnDrums
@JunkerOnDrums 3 года назад
@@fthorup Okay cars under 400.000kr only 25% VAT!
@broendbykim
@broendbykim 2 года назад
@@fthorup The 150% only apply for price exceeding 200000 dkk and don't forget that the state hands over between 1000 and 1500 dkk per mont tax free for every child between 0-18 years old.
@andersjensen3693
@andersjensen3693 3 года назад
Very interesting video 👍🏼 the usa vs Denmark tax comparison is often used as a argument here in Denmark of Why we are happy to pay the High taxes - some americans are often surprised that the High taxes never is discussed i Danish politics - some partis though is using tax deduction on cars as an example for their politics, but the statetax is very little discussed. Im curious to know how much copayment you would have to pay in America, if Miranda would have been injured in usa, with or without insurance? And would she be financely be covered if she would have to stay at home, or lost her job? Hope shes soon up and running again 🏃🏻‍♀️ Great videos guys - your Channel is growing fast! 😄👌🏼
@fungamesandstories
@fungamesandstories 3 года назад
I can answer to that. Because everything is private, it actually depends on the salary package that she would have to that specific company. Some of them offer sick leave, some of them maternal leave, some of them vacation leave. So , none of the companies are obligated by law to provide at least of minimum of benefits to their employees. Not even health insurance. Now, the copayments depends on your insurance plan. The bigger the monthly premium, the lower the copayments. So it depends on what kind of insurance it is and what services are covered by your insurance. And to go without insurance.... ouch ! That would be veeeery expensive. To give you an example: my husband went to hospital for a pain in his lower back. They did some tests, stayed for a few hours, came to the conclusion that it's probably stress and sent him home with 5000$ bill 😂
@fungamesandstories
@fungamesandstories 3 года назад
Also, another example, we pay an insurance for our son who needs it for his therapies. And we can't access all the major hospitals with his insurance. We have 2 big hospitals in the area that are not taking his insurance, so the nearest hospital that would take his insurance it's like an hour away driving. Because hospitals are part of medical groups, so your insurance only covers in certain medical groups, networks, etc. It's really complicated....
@andersjensen3693
@andersjensen3693 3 года назад
@@fungamesandstories - thank you so much for the explaining ☺️ i cant help to wonder Why some hospitals takes some insurrances and not others? Seems Odd to me... ofcourse we here in DK is full covered always, and we Can even choose ourselves, to which doctor or hospital we wanna go ( the State provide you with the closest hospital obviously, and not many choose any diffrent because there isnt that much difference in the quality of the hospitals) And the 5000k$ Bill!! Seems mad to me! Thats alot of money, and i Can see now how some americans would have to make Loan to cover anything medical...
@fungamesandstories
@fungamesandstories 3 года назад
:)) it's odd indeed ! I am not an expert so i can't give too many details because i am not in the feild, but from our experience, the health care system is very expensive. I believe the medical groups are because of fundings and also you need to see if the doctor you are looking for is in your network or not. Maybe the hospital is accepting your insurance, but the doctor is out of network for that insurance. And trust me, i am as confused as you are. One year ago we had the same insurance company, but different plan and the hospital in our area was taking the insurance ( we actually used it) and then, last year we changed the plan ( to accommodate his therapies) , but the same insurance company, and voila.... we can't use that medical group anymore 🤣. And don't think that if you have insurance you are fully covered ! There is a deductable amount and out of pocket amount to every plan. First you have to meet your deductible amount, and then the insurance kicks in , and then after you meet your out of pocket amount, the insurance will cover 100%. The good news is that you can make payments. The bad news is that every year all the amounts reset so you have to start paying again your deductible and out of pocket money, so ,unless you spend @15000$ per year for medical expenses, then you don't have chances to be fully covered for EVERYTHING . Also depends on the services. Last year, my son spend more than 100k in therapy and whatever we payed for copayments, didn't go to the deductable. Like i said, it's really complicated. I would rather pay a certain amount of money every month for that, than just run around to figure it out . But a lot of americans think "why should i pay for another person?" , which is weird to me because a portion of the taxes goes to medicaid and medicare system and everybody is paying for that anyway 🤷‍♀️
@andersjensen3693
@andersjensen3693 3 года назад
@@fungamesandstories - sounds really confusing 😄 americans often Think that the High taxes here in dk is Way too High, and yes sometimes I Think that my self. ( iam a student, and i pay all in all 48% in taxes on my income after deductions, which is around 4000kr,- (650$)) but then again - i then Think about that i dont need to pay for School and Education, i actually gets paid around 1100$ a month throughout my Education, which i dont have to pay back - i get free healthcare, financely support if i was ever to be without a job, or get sick - my Dad recently Got a knee and hip replacement, in a private hospital (because of COVID-19 the waitinglist is increasing, and in Denmark you are not to wait more than two weeks for operation so the State pays for the private hospitals) but he Got the operations and did not pay a single dime.... he actually Got a there course dinner and red Wine in the evenings at the hospital 😂 so yeah - I and most others are happy to pay the “High” taxes, because the other solutions, like the ones you have in America, is Way to expensive ☺️ and it hurts my stomac to Think that people who gets sick cant be treated because of lack of money...
@ImKenneth1337
@ImKenneth1337 3 года назад
Interesting to hear about the taxes in the US. Very informative even without going into a lot of detail. Loving the "Try it on Tuesday" stuff aswell. Hopefully one day you'll all come to enjoy our precious liqourice :') Best wishes to Miranda's knee!
@byteseq
@byteseq 3 года назад
One more thing to consider. In the Danish system it does not matter whether you have 1 or 5 kids - education and healthcare is covered automatically. In fact you do get an additional amount for each kid every three months until the age of 18. And during college the kids can also get additional funds from the state in many cases (SU)
@byteseq
@byteseq 3 года назад
@Mark Steinhofer ah yes, the classic stupid defense of the US "way". I'm sure a lot of US citizens love working two jobs to prove that they are not lazy.
@MartinMllerSkarbiniksPedersen
@MartinMllerSkarbiniksPedersen 3 года назад
And students can get SU when they study.
@thedanishvikingpilgrim5753
@thedanishvikingpilgrim5753 3 года назад
But not for as many studies as you want. There is a limit.
@ANTERIORcs
@ANTERIORcs 3 года назад
@@thedanishvikingpilgrim5753 Noooot really. There are ways to circumvent that.
@thedanishvikingpilgrim5753
@thedanishvikingpilgrim5753 3 года назад
@@ANTERIORcs there are limits
@Uzi2800
@Uzi2800 3 года назад
@@thedanishvikingpilgrim5753 please tell??!
@jeppekjller5423
@jeppekjller5423 3 года назад
@@Uzi2800 You can get up to 70 months of SU. This applies even if you change from one education to another.
@graeker4286
@graeker4286 3 года назад
Great video! And i hope a lot of people see this (especially americans) because i think there are a lot of misunderstandings about what you pay and get for your taxes. I know there are big differences between states but people in ex. California and New York should really question what they get for those high taxes. Good job guys❤👍
@saxolix6103
@saxolix6103 Год назад
Property taxes in NY are insane. I pay $7k a year on a house assessed at $145k in one of the poorest counties in the state. Population of my county is about 49,000. Will be retiring to an RV.
@joakimgrum6178
@joakimgrum6178 3 года назад
Great videos guys! You should make one analysing how the two countries spend tax differently (e.g. Military, Police, Prisons, Education, etc...).
@sabinahertzum9728
@sabinahertzum9728 3 года назад
Im really Happy that you included healthcare and school in to the Tax issue, because thats really important to include because of the fact of what the danish taxes go through...
@olesuhr727
@olesuhr727 3 года назад
You have to remember that atp is not primarily a tax but a pension saving (arbejdsmarkedets tillægs pension).
@Softpaw1996
@Softpaw1996 3 года назад
that will also get taxed upon reaching your retirement age.
@g9nnar
@g9nnar 3 года назад
@@Softpaw1996 is that a folkepension (peoples pension).
@Softpaw1996
@Softpaw1996 3 года назад
@@g9nnar partly.
@Donnah1979
@Donnah1979 3 года назад
They might actually be going a bit easier on you when it comes to taxes, if you are considered high-skilled labor from abroad. Also, the childfamily-support is differential, depending on the age of the children and income level.
@Wankers001
@Wankers001 3 года назад
This is awesome. This is gold. I have had long discussion with americans on the internet about this very thing, where I argued that they likely pay more or less the same we do in tax, but get the short end of deal, as there are so many unknowns. We know what we get in DK. About the hot and sweet drink. Nice that you are trying it. Some day it will all make sense :-)
@TravelinYoung
@TravelinYoung 3 года назад
Thanks!
@timeflake
@timeflake 3 года назад
Very interesting. I like your logic. Seems like both of you have a great grasp on economic
@andrewmller6027
@andrewmller6027 3 года назад
You truly live the life of a dane with all that alcohol, lmao 🤣.. Great to see your channel is growing guys. Bless you. 🇩🇰🇩🇰
@TravelinYoung
@TravelinYoung 3 года назад
Trying to assimilate :).
@AndersHass
@AndersHass 3 года назад
It is interesting Denmark has higher economic freedom than USA
@TellusJD
@TellusJD 3 года назад
that is for sure not the full story. But it has its perks. The higher the income the more US favors in freedom. In this clip im not sure if they calculated the toptax. which is above 60% it seems they didnt but I dont know. However, the main things in denmark is that Moms/VAT is way higher and so prices are higher 25% on all you buy pretty much. Cars another huge point the cars are the most expensive and about 3 times the price of the cars in the US. All kinds of other taxes financial taxes on stocks etc higher. However Denmark is way more equal, and the lower income group earns way more than in the US, I dont think you can find a job in Denmark below 20 dollars an hour.
@AndersHass
@AndersHass 3 года назад
@@TellusJD economic freedom is measured on various things. Taxes is one of them but there are many other things like property rights, regulation etc. I don't think anyone is going to disagree the Danish taxes are higher than USA (generally, there are state variations in USA but I am not sure if highest taxed states even come close to Danish amount). Denmark does have lower corporate tax which certainly helps (but the high income tax certainly doesn't) on economic freedom. Well there is no official minimum wage in Denmark but it is very unlikely anyone earns that little when they are adults. Many teens do have low income jobs. There is also unemployment benefit which does push jobs to be certain payment for it to be better than staying unemployed.
3 года назад
@@TellusJD Actually, the highest tax you can pay of your full income is 52.06% here in Denmark. It's called "det skrå skatteloft", or "the slanted tax ceiling" in English. Topskat also only applies to the part of peoples incomes above 544800 DKK per year, so it wouldn't matter much in this case - if they didn't include it. I suspect that they did, though.
@lhpl
@lhpl 3 года назад
@ according to the Danish Wikipedia, in 2019 an estimated 9% of all tax payers had to pay topskat.
@BageStudios
@BageStudios 3 года назад
Yes, this is indeed a very basic look
@spacebunsarah
@spacebunsarah 2 года назад
Something to keep in mind that no one ever mentions about America: the government pays you to have kids in America, too. It’s called the Child Tax Credit, and when you divide that credit as a monthly benefit, it’s $300/month. I hear this about Japan, too - the government pays you to have kids, how lucky, right? We just do it as a yearly vs a monthly payout.
@TravelinYoung
@TravelinYoung 2 года назад
Denmark pays you for your kids, they actually put money directly into your bank account each month. Our benefit was lower because Maya was older and we aren’t native to Denmark. You need to live here for a certain amount of time to start receiving it. But if you are a native Dane you’d get it automatically at birth, it is pretty substantial then. When you child turns 18 it converts to being something they receive rather than the parents. That way they are able to get their lives started and be less dependent on parents while also being able to focus on studies and less on part time work.
@spacebunsarah
@spacebunsarah 2 года назад
@@TravelinYoung That’s what I was referring to - you included the monthly benefit from Denmark, but not the yearly benefit from the US. To make it an apples to apples comparison, you’d need to include that yearly payment or remove the monthly one because that does become a rather significant line item. The utility of a yearly vs monthly payment can surely be debated, but a 300/month difference is worth factoring in, particularly at incomes
@Mobraks
@Mobraks 3 года назад
Nice video. Greetings from Norway. A little comment on the liquor you tried. We have been making int since the 90s here, another good one that we make is Bringerbærshot, Raspberry shot. Its the same recipie as the Hot'N Sweet just replace the turkish pepper candy with raspberry candy. Here is a little tip. Put the Hot'n Sweet bottle in the freezer for a couple of hours before serving it and ALWAYS shake the bottle before poring. Loved your video.
@TravelinYoung
@TravelinYoung 3 года назад
Hello to Norway! Thanks! I really wanted you to say "Put the Hot'n Sweet bottle in the garbage"....just kidding :). Problem is the freezer is too small, if I fill it up with this and snaps I've got no room left for food. I need an American sized freezer, or better yet a separate freezer just for alcohol, hmmm. I just need the space for it.
@FullCanoe
@FullCanoe 3 года назад
Hi there Youngs Very nice simplified presentation on the tax difference between USA and DK! 50k Dkk is a rather high income to have in Denmark, or at least it puts you in a rather small group of people, compared to the average of about 27k across the nation But for comparison i guess it doesn't matter what the number is, since you are talking proportions. However probably the most important to note that, high or low income, you have access to exactly the same healthcare and education. And that lower income in the US, often equals no college fund, and subpar health insurance, if any at all, which only throw people with less funds into even more debt. Strictly social political speaking - which i know wasn't a part of the episode - The system in USA compared to Denmark only work towards keeping the poor, poor. I love your comparisons and thought on the Danish country and its people!
@Morlock1943
@Morlock1943 3 года назад
Fedt med alle de danske kommentarer der skriver engelsk til hinanden smiler. Iøvrigt godt forklaret
@justarandompally
@justarandompally 3 года назад
Ironic, innit?
@reverberateddreams7958
@reverberateddreams7958 3 года назад
You don't need to type danish to show us min ven, your name already sais it all
@runenexman6587
@runenexman6587 2 года назад
Great info vid guys.. I'm living in Denmark with my American/Danish sister and my Ghanaian wife throughout 17 years + our two wonderful kids.. I'd be happy to fill in any questions or concerns about the system here in Denmark! Peace out
@sveinrh
@sveinrh 3 года назад
As you mentioned, it is the stuff that is covered by your taxes in Denmark vs. not covered by taxes in the US that makes the biggest difference. You mentioned education and healthcare, but there is a lot more as well. I'm not familiar with all the details of the Danish system my self as I'm Norwegian, but the system in the Scandinavian countries are very similar. In Norway if you get sick while working, the employer have to cover the cost of your salary for the first 16 days of your sick leave, and the government will cover the cost after the initial 16 days for up to 1 year. The cost of this is all covered by taxes. This is also beneficial for the employer as there is little cost involved in their employees getting sick, and the money that they don't need to pay for your salary while you are sick can be spent to find a temporary substitute. Also, if your life situation changes (usually health related reasons) in a way that you can't continue doing the type of job that you are currently doing, you can apply for money from the government to cover living expenses while you get reeducated for another proffession. Again, covered by the taxes. In Norway you get about 1 year paid time off when giving birth (I think Denmark might have a little bit more) and heavily subsidized kindergardens to encourage people to have more kids. All paid for by taxes. One more thing to mention is that for many americans, health insurance is connected to your job, and if you get laid off you might loose your health insurance. In at least the Scanidinavian countries, and I believe most european countries, you will have the right to (practically) free health care no matter what your job situation is.
@henningthye94
@henningthye94 3 года назад
the ATP you mentioned is in fact a compulsary saving for your retirement, and not a tax as such. as a retiret i get after tax 875,- kr. pr. month on top of my pension. Keep up the good work.
@oOPPHOo
@oOPPHOo 3 года назад
My good friend Tom from Myspace recommended this channel.
@TravelinYoung
@TravelinYoung 3 года назад
Well done!
@jriis2010
@jriis2010 3 года назад
It is a joy to follow you guys and I am happy that you seem to have settled here in Denmark. One note on the liquorice shots though. Try Pure Lakrids. It is a taste of heaven compared to the stuff you just tried :-)
@TravelinYoung
@TravelinYoung 3 года назад
Thanks! Oh we’ve got some pure shots, it is good! I bought it willingly :).
@spacemansabs
@spacemansabs 3 года назад
The biggest difference I think it the general cost of living. Eating out, $50 sushi, the price of renting a place, the cost of buying a car, the price of gas. This all means that while the taxes are similar, your pay cheque won’t stretch as far in Denmark. Unless you live in Jutland.
@Flamechr
@Flamechr 3 года назад
Ja og jeg forstår ikke folk er så forelsket i en så uren og larmende by som KBH 😊 når du kan få et hus i Jylland til 1/5 del af prisen og ca det samme i løn 😂
@145Nudel
@145Nudel 3 года назад
Another great video from you guys 👏😊
@stephanpetersen8386
@stephanpetersen8386 3 года назад
I REALLY hope this video will go viral, it's such an eyeopener to every Dane!! 👍👍
@Michael-Archonaeus
@Michael-Archonaeus 3 года назад
Det er altså en ret grov og overfladisk gennemgang, der er meget mere under overfladen. Husk også på at amerikanerne for deres skattedollars får verdens største militær, hvad får vi til sammenligning på den front?
@stephanpetersen8386
@stephanpetersen8386 3 года назад
@@Michael-Archonaeus Du er da velkommen til at uddybe gennemgangen af det amerikanske skattesystem, jo mere oplysning jo bedre...
@stephanpetersen8386
@stephanpetersen8386 3 года назад
@@Michael-Archonaeus Pointen herfra er heller ikke så meget, hvad vi 'får' pengene, men at vi betaler omtrent det samme i eksemplet. Dét tror jeg ikke mange danskere er klar over, men hvis det er forkert, er du selvfølgelig meget velkommen til at forklare hvorfor, jeg er bare en undrende dansker...
@Michael-Archonaeus
@Michael-Archonaeus 3 года назад
@@stephanpetersen8386 Du forstår tydeligvis ikke hvad jeg skrev. Prøv lige at undersøge hvor meget af amerikanernes skatter der går til militæret, og sammenlign det så med Danmark. Det smadrer fuldstændigt hele sammenligningen
@stephanpetersen8386
@stephanpetersen8386 3 года назад
@@Michael-Archonaeus Jeg forstår udmærket, at du mener, at eksemplet fremhæver, at ved siden af de militære udgifter lægges de sundhedsmæssige oveni. Du synes åbenbart, at det refærdiggør det amerikanske system. Det er slet ikke interessant for mig, de prioriterer som de gør, det der er interesseret for mig er, at de slet ikke er så skattemæssig forskrækket, som det fremstilles her i Danmark.
@ak-naton7731
@ak-naton7731 3 года назад
Don't forget the fact that the lowest paid unskilled worker here in Denmark makes +3000 USD per month (at 120 kroner per hour). In USA (Illinois for example) the minimum wage is around 1800 USD (at 11 dollars per hour). The taxes are a bit higher in Denmark but the income is considerably larger.
@itsmebrysonp
@itsmebrysonp 3 года назад
Hello, I Truly hope you didn't mind the reaction. I really enjoyed your video and appreciate the time/ effort you've put into comparing life from the U.S. to Denmark. Have a great day 😊
@thomastrappaud6929
@thomastrappaud6929 3 года назад
I have a question for you guys; what is your opinion on the drinking culture in Denmark and how does it compare to the USA?
@rachel8236
@rachel8236 3 года назад
Hi, I'm an American living in DK who has studied at both American and Danish universities. I strongly dislike the drinking culture in DK. In the US, there's a drinking culture but it is not something that everyone feels pressure to take part in. You can have a social life in the US without the pressure of drinking and easily find friends in school (high school & university) or just life in general who do not emphasize drinking. I hate that the drinking culture permeates to all ages in DK and it makes me feel uncomfortable how much people feel the need to drink in order to socialize
@sundhaug92
@sundhaug92 3 года назад
@@rachel8236 yeah I remember when I (norwegian) had a US teacher for a week, who lived on campus, and he was surprised at how little drinking there was. Thing is of course that he was there on weekdays, and IIRC it was on the colder part of the year
@monicamikkelsen6546
@monicamikkelsen6546 3 года назад
For your next "Try it out tuesday" may I suggest: Molbo Bitter. It is from my hometown Ebeltoft. It has a great story to it and I think you'll enjoy a drink of this, I can recommend reading a "Molbo story". A Molbo story is a Danish folktale about the people of Mols, who live in eastern Jutland near the town of Ebeltoft. In these tales the Molboes are portrayed as a simple folk, who act foolishly while attempting to be wise. There is also a great story about how the Molbo Bitter was discovered and who decided to recreate this great tasting bitter. :) Thank you for posting your videos. The way you come across on the screen seem to me, to be quite "danish like"/ relatable to me. I love them. Thank you. :)
@PawSkovmose
@PawSkovmose 3 года назад
Nice basic analysis. As you meantion it is complicated to compare in details because of geographic, personal tax deductions ect. Actually a great thought process to realize the in-hand wage is almost the same. The difference is therefore the freedom of “savings”. Very Nice video!
@magoola
@magoola 3 года назад
Things that did not get taken into consideration or could have been mentioned: 1. Topskat is not mentioned and is 15% additional tax on every single DKK you earn above the defined topskat limit. In 2021 the topskat limit is 544800 DKK after AMB. So every DKK you earn above 544800 you will pay ~56,5% instead of ~41%, paying an additional 15% per DKK in tax. 2. Yes we have "free health care", but because of all the immigration and opening up to EU citizens, you end up waiting months just to get a scan or get treated for life threatening illness. On top of that, this results in many people who become sick or get hurt, will be incapable of working until they have been "cured/fixed". So private companies started providing private health care to enable its employees to get very fast treatment and thus faster back to work. 3. Too many people die waiting for treatment because our health care system is collapsing. 4. Danish government treats immigrants better than its own citizens that as a result may render people homeless because the safety net prioritizes (not immigrants) but asylum seekers. Our system is collapsing because of our goodwill to help the world. In other words... DO NOT GET SICK in Denmark.. We have a saying here.. "if you are sick, make sure not to get hospitalized unless unavoidable. If you get hospitalized it will not be the illness that kills you but the hospitalization..."
@worldoftanksvideos8405
@worldoftanksvideos8405 3 года назад
You also getting paid if you study and are > 18 yers (Denmark). Remember taxes are also for helping others in need.
@johnuferbach9166
@johnuferbach9166 3 года назад
Financing students is kind of also an investment by the state... allowing more people to study thus producing more valuable "output" and therefore taxes etc later
@mesj3798
@mesj3798 3 года назад
You forgot to mention the fradrag, It makes a difference on the take home pay. It could be bigger if you have a loan.
@emillundqvist8126
@emillundqvist8126 3 года назад
No he said he wouldn't cover those in the beginning of the video. And remember both the US and Denmark likely have a bunch of them
@KasperViggoJensen
@KasperViggoJensen 3 года назад
Great video. It would perhaps add more understanding to include the price of things such as cars, housing and electricity. Income tax is one thing. It may not be a huge difference to anywhere else in the world, but the VAT and charges on everyday items is quite significant. I don't live in Denmark, but I still have family there and I am shocked at the prices. My brother there was looking at the same motorbike as I have, and it would cost 2.5 - 3 x the amount it would cost most other EU countries. So, not only would he have to earn more, thereby increasing taxes because of the progressive system, but would also get hammered when it came time to purchase. Cars and housing are very expensive there. So is going out to eat/drink. That said, the services afforded to general public are excellent. EDIT: As an example, a Toyota RAV4 Hybrid is around USD 29,000. That same car is USD 98,000 in Denmark.
@Joey-ct8bm
@Joey-ct8bm 2 года назад
If you look into the differences in minimum wage it's actually mindblowing. In Denmark minimum wage is more than double that of the United States and they get all the benefits.
@kaspernielsen9149
@kaspernielsen9149 3 года назад
U need to tell that you get money to attend Collage and Highschool in Denmark :)
@InTaco7
@InTaco7 3 года назад
And paid maternity/paternity leave
@Damgaard1970
@Damgaard1970 3 года назад
When I saw the bottle I thought .. Oh no oh no 😳 don't do it .. really felt with you 🤮 You are very brave 👍
@wardope
@wardope 3 года назад
another important point is that if you get sick and unable to work for an extended period of time. you will most likely get your full monthly payment anyway. because of yet another safety net, we happened to have built, in Denmark. like I happened to break my left foot at work and was off work for 14 weeks with no economical losses at all over the course of those 14 weeks. the same can be said if you just have a few sick days like getting the flu and staying at home for a couple of days. again no income loss!
@Lorentari
@Lorentari 3 года назад
I know this is a thought up example - but even in Denmark, where the salaries are generally higher than in US, 50,000 DKK per month is a salary that most people will never get - especially as a single parent.
@runethedane8895
@runethedane8895 3 года назад
Personally I like paying up to half of my income as tax since I know the money goes to the weak in our society like my father who after more than 40 years in the workforce can't work more because of his broken down body
@runethedane8895
@runethedane8895 3 года назад
@Gainstrup true true that is probably the most irritating thing about it that it has been misused a lot over the years by everyone immigrants and native Danes alike and thats something we gotta look at and deal with it after covid since thats top priority at the moment obviously. but still it's not great to have the system if all it is being used for is helping people that only need it for a short period of time or didn't needed it in the first place its there to help the old and the worned out people of our society. Welp fortsat god dag og tak for dit perspektiv altid dejligt at se sagen fra flere vinkler.
@Likkivi
@Likkivi 3 года назад
I would much rather if support for unfortunate and suffering people was organized by people buttom-up rather than top-down in an inefficient, cold, bereaucratic top-down system.
@dianagregory8084
@dianagregory8084 3 года назад
Omg lol it does taste like Nyquil😂 When I was young in the 90’s we would make it ourselves. It’s an aquired taste for sure😂
@megagame
@megagame 2 года назад
There is kind of 2 more "taxes" in Denmark, union fees and A-kasse. Unions are big part of Denmark, can help make sure you are payed right, and treat fair. "A-kasse" is basic a extra social security payment, as if you own a house and car, the basic social security system in Denmark will not cover that, or even help you if you have assets like that. A-Kasse system pays you more if get fired/leave your job.
@chriscross5581
@chriscross5581 3 года назад
Very interesting on the taxes; quite surprising for a Dane used to being told we pay much more than anywhere else. Maybe not the case after all. On a very different note: To be perfectly honest, most danes don't really drink the various turkish pepper shots "leisurely", like as something you "enjoy" on a quiet night with friends or whatnot (There are actually a fair number of other liquorice shot variants that are better for that.....and a bunch of whats usually bitters that serve better for "medicinal purposes"). It's more like something that comes out a bit later in the evening, for instance when you are having a bit of a night out, when everyone has had a few beers, maybe a whisky and/or few drinks as well, and then suddenly someone in the crowd decides that "this party needs to pick up tempo a bit". I'd basically regard it sort of equivalent to when someone decides to start ordering rows of Tequila shots or similar for his or her "gang" at the bar in the US. End result is usually also the same, but while Tequila is just straight down strong in itself (noone should be surprised about that), this specific family of liquorice shots have a bit of a hidden side effect: The ammonium chloride sort of opens up the membranes in you stomach and intestines, which basically means you start taking up more of the alcohol in your body faster.......which usually is what catches you off guard and can make for the evening to go down a different track than first expected. My personal downfall is that I like the stuff. Many fond but blurry memories in my late youth related to it.....
@EmilReiko
@EmilReiko 3 года назад
When all taxes are added together, compared to other OECD countries - Denmark lies somewhat a little above the middle. The myth about Danes being the most taxed beings on earth is pure propaganda.
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