Which Country Has The Highest Taxes? 

seconded

Third

I can give you a link to a old song that is about taxes

Your cat kind of looks like mine

Plus another

True

i was just thinking this.

I prefer that american dude that does map videos. No idea why, I prefer Andrews minecraft videos.

@@MISTER__OWL who?

I was faithfully subscribed and watching every video for 6 months before realizing he had a first channel. Then I watched something like a political compass minecraft video, which was probably the most second channel thing he's ever done on his first channel.

I just commit tax fraud

Good plan.

Funny enough that’s also the strategy that Jeff Bezos uses

That’s the goal for you to never have money and forever been in debt !

@@dtales77 Oh I'm not in debt. Sailing through life on pure neutral.

I think that it gets complex quickly because most of taxation is income, VAT and property, but also you'll have some local and some state alternative that isn't accounted for, in addition to all the duties etc. Basically I feel you don't worry

@@ibx2cat we have taxes on the taxes and each province wants a piece of the bigger companies and theres retentions when you hold money directly from the buyer and you have to pay the tax for them, its crazy 😂 anyway we have poorly funded hospitals and universities but they are still decent and you dont have to pay so thats nice (corruption and inneficiency aside)

I think the biggest problem is the piles upon piles of laws and regiments you have to know, because, at least in Brazil, there are so many specific taxes, duties and fiscal relieves that you need dozens of financial and tibutary administrator just so your company can pay as little as possible, which makes some companies pay very little while others have to pay excruciating amounts

@@matheusd.rodrigues429 unless you get a break or a loan from the government tax paying is somewhat equal here, small businesses might evade easier since they do smaller transactions. But yeah there is corruption and some companies go into huge tax debts that a powerful friend can wash away

I actually think a video on where the highest Texas is could be pretty useful. If you look on google maps for all of the places in the world with Texas in the name and work out which one is most Northerly.

@@VodkaSelekta Nah highest in terms of number of drugged people.

I think the answer to that is the USA.

Lmao

You mean lysdexia?

Sweden has like 30% income tax, but also 30% employer free. So that's 70%×70% = ~49% you keep, 51% in taxes, and the map seems to properly reflect this.

The UK and US have similar systems where 20-30% is paid by them too for what it's worth

@@toycat that would be an interesting thing to compare in another video. Also, look into import tarriffs. Maybe, even bribes in some places in you need to give bribes just to do basic things such as getting a driver's licence and going to a state run hospital.

American companies in Russia don’t pay tax’s

That's just taking away from your pay in reality. Just masking it, same in my country

Thank you for pointing this out! It was driving me nuts hahaha

Good point. I think in a future video he can do "Which country has the highest taxes for under $40k/yr earners?" "Which country has the highest taxes for $40k-80k/yr earners?" etc. Not sure where the countries draw their tax bracket lines, but that would be cool to know. I'll compare 2 states so we can see the difference that brackets can make. California and Georgia. California has a 13.3% top tax bracket and Georgia has a 5.75% top tax bracket. However, because of how the brackets work, a person making $60k/yr in California will pay about $2700 in state income tax while a person making $60k/yr in Georgia will pay $3000 in state income tax. To compare the monthly we can imagine it as $5000 per month of income and $225 in CA or $250 in GA per month sent to the state in income tax. The contrast is even greater the closer you get to making $15k/yr with California taking very very little at that income level. California state income tax begins to surpass Georgia at about $70k/yr. That said the property tax part might be the more interesting one. State, county, city all can have their own additions to property taxes so you might have a fairly large change from one mile to the next because one house is in a different county or a different city. Additionally you have to consider the cost of the home you will purchase. Although California property taxes are fairly low, the housing prices are astronomical. Using the same 2 states California and Georgia we can see what difference that could make. A median home price (meaning 50% of houses are more expensive and 50% are less expensive) in California is over $800k now so that 1% in property taxes means $8000/yr. In Georgia the median home is $220k and even a 2% property tax means you only pay $4400/yr. So when you consider house value and income you can see that although you might pay a few dollars more in income in Georgia you are likely to pay much much much less in housing cost and property taxes. This is of course if the person making $60k/yr could even afford one of those $800k homes in California which they can't so they probably won't be able to find a home to buy in the state. I went too simple on property taxes since houses aren't assessed every year in some places or the tax assessment might change depending on the number of structures on the property or how much the city/state can increase the home's value for tax purposes. Stuff is complicated and will vary greatly, but this was an ok example I think.

@@falcianjinn6218 the examples you gave, even if simplified, are great. They really highlight why it's important to consider these things with more depth. An example of an exception in CA - my grandma's home in LA was bought in the 1950's, and due to some of the complexity of the property tax laws, property taxes can only increase by 2% each year. This means that even though the appraised value of the house is north of 1.5 million, she is only paying a little more than $1000 each year in property taxes because the house was paid off so long ago.

@@falcianjinn6218 here is one question did you account cost of living differences between the examples, because 60k is a worth a good deal in Georgia than in California

@@falcianjinn6218 Maybe it would be better, to look at the tax rate of a median (not average!) income, because incomes vary greatly between countries.

I read Bulgaria has lowest taxes on Europe, super cool!

Is it really loopholes or is it deductions

@@schroederscurrentevents3844 both. Some deductions are loopholes by definition. Only there for those large corporations to use.

@@schroederscurrentevents3844 When Amazon, Apple, and Google are paying less in taxes than your average high school fast food worker, there might be a problem

They are not loopholes they are legal tax deductions and guess what every American also gets tax deductions just the same. If you actually take the numbers in this videos and apply tax deductions the number fall really fast. No one in the USA Is paying the fall tax sum due to these deductions. The thing is that if the USA wants to cover the national debt all they need to do is remove the deductions but then the REAL tax rate will actually be what is listed in this video and that will not go down well with the public.

@@drscopeify They lobbied for these deductions, average American workers don't have the capital to lobby the government like that, so they get taxed more. Real fair, sure.

Yeah in the USA you pay a crap load of taxes and get literally nothing in return which is why the American citizens tend to hate them.

​@@equinox2584 Same everywhere. You pay a crap load and get nothing in return. It's just a ruse to rip you off and feed politicians and their armies of bureaucrats and "public service" personnel. And then a few handouts to keep the voting base coming back.

@@mrawesomeDK I think the Nordic countries would probably disagree with you there

@@jw3505 I live there :-D

@@mrawesomeDK That isn't true lol. In literally all of the developed world except America your taxes actually help you and even in America they help as well you just don't get as many public services. Healthcare is a big one, roads, police, welfare is another big one, military, public housing developments, social services, national parks, etc... You do actually get great value from your taxes, in America, our money tends to go a little too much towards the military and a little bit too little to the welfare but it is what it is, I am still glad we have taxes.

Fascinating. Someone with my way of thinking.

a PS5 is also not essential. I very much rather see how much food is taxed than a PS5 or a car

@@matheusd.rodrigues429 a lot

@@matheusd.rodrigues429 cars range from %35 to over %150

@@yungsteaksauceakalilwasher6571 you have it lucky in south Africa cars are %500 to a %1000

In the UK the taxpayer is going to pay for another 'Royal Yacht'! And nurses are earning less in real terms than they did in 2008, and are expected to be grateful for a 1% pay rise after having to deal with the pandemic. Nice to see the government have got their priorities right.

@@peterc.1618 In fairness I'm sure they'll have a lot of money to spend on boats once they sell off the NHS. Here's hoping for the HMS Prince Andrew - it could do cruise tours of Epstein Island.

I don't know of any country that separates "tax revenue" from "newly printed currency". Except maybe those few in the EU that just can't print euros.

@@fawfulBeans No sweat!

The only thing you need to pay attention to is how much money the government spends, Milton Friedman said

It’s more about how the money is spent yeah.

It would be interesting to see how strong the correlation is between the happiness of a country's citizens on average and the total tax to GDP ratio.

@@nielsunnerup7099 Probably not so much, but even then correlation is not causation

@@balkje Higher than average taxation in a country does often end up making the social security systems stronger, and usually makes education and healthcare free which makes people stress-free regarding those things. Makes quite the big difference if you have no job and not enough financial aid from your parents, it allows you to get an apartment through student aid and keep on studying on any level of education.

agreed, that would be great

Giving options in tax rates would encourage competition between municipalities and provinces i think

I would dedicate 0% of my taxes to the mentally disabled and 100% to my self.

@@InvadersDie but then u can’t dedicate any to yourself

@@lubu2960 how? OP is taking 'bout citizens right, not muncipalities or companies right?

But at least you guys get actual government services in return. We pay our taxes but basically get nothing in return.

@@julianturner69420 I guess you never use public roads, or go to public school, or see fires being put out by firemen, or see criminals arrested by police, etc. You might want to step outside and see what's going on in the world every now and again.

@@julianturner69420 that's a stupid thing to say

That's before or after the federal gst?

@@LeSyd1984 in Ontario GST and PST are combined into a single rate called HST which is 13%

Taxes in general are too complicated to able to compare them. There is always an asterisk or nuance, or taxes that's not called 'tax'

I live in the Netherlands (a 'high-tax' country) and I had a business partner in the US about 7 years ago. I, too, thought the US had really low business taxes comparatively, and I was absolutely shocked to find that even at not a very impressive ~60k income, my business partner altogether paid about 40% in taxes on that. Why is that shocking? Well, the effective tax rate - excluding sales tax - for me was about 15% that year. The difference is astronomical. that's about when I started understanding that most people just don't understand or know anything about taxes.

@@ssj3gohan456 I’m not too familiar with European (or Dutch in particular) tax codes, but our corporate tax rates are what mystify me most. I’m not sure how you folks do it, but most “small” business owners (anywhere from zero to a few hundred employees) are registered as “pass-through” corporations, where business profits “pass through” straight to the owner, and are then taxed under the individual income tax code. So many/most small businesses don’t use the corporate tax code at all. My business (48 employees) was recently switched to a C-corp (at the advice of my accountant), which does pay corporate taxes, but as you note, those taxes are about the same as individual income taxes, so our tax liability is virtually identical as it was before. It just surprises me that we are the only country which taxes every corporation (well, at least those corporations who lack the resources to lobby Congress for cutouts) the same as we tax individual earners.

@@JJJRRRJJJ Even income taxes seem a little complicated in the US. So all levels of government levy an income tax, even local ones?? I can only give examples from the country I live in, Australia; here only the federal government charges income tax. The Australian states don't. There is one sales tax- at a uniform 10% across the country. In regards to corporate taxes here....I don't know what they are like tbh. According to the map at 9:52, they're above the world average but lower than what they are in the US. In the example given the video, if my calculations are correct, someone earning $5 million dollars in Australia would be paying about 47% effective tax rate (including the medicare levy), which is lower than in New York State. To give you an idea of the political situation here, Australian politics tend to be a bit to the left to the US in general in some respects (e.g. the universal health care system here is supported by both the main left and right-wing parties). I should point out that if you're earning a lot less than $5 million, your effective tax rate will be lower than 47%. If you're earning $500,000 per year, your effective tax rate is about 41%. if you're earning $200,000, it will be about 33%.

@@perthdude21 Yes, our subnational governments are able to levy their own taxes to fund their respective functions. As you likely know, my country has a long history of skepticism toward a meddling centralized national government dictating the affairs of state and local governments far and wide. And thus California can decide to snatch 13% of your income (on top of federal taxes), and Florida can decide to forego any income tax. (Just recently, until 2017, the federal tax code would allow you to deduct state and local taxes from your federal tax bill. Since this deduction was eliminated, people in high tax states are getting even more crushed than they were.” But anyway, how are Australian state governments funded if they cannot levy taxes? Without the authority to dictate its tax policy, how does a state government have any actual power? It seems like they would be mere puppets of the national government, spending only what they were allowed to spend, no? As the video mentions, sales taxes vary by state. My state, Indiana, is at about the average of 7%, though we are below the corporate average at just 3.2%. From what I do know about Australian political culture (which I admit is not much) I tend to really enjoy. It feels much more familiar to me than that of Britain and even Canada… But those countries basically form their whole identity around pretending to be SO much different (re. better) than the US (especially canada), even though we are VERY VERY similar when all is considered. Australia doesn’t tend to have that same chip on its shoulder, and even has a robust conservative instinct in many ways. And you guys understand that China needs to be dealt with, even if you are uniquely dependent on them. Most of our government doesn’t even understand China.

@@JJJRRRJJJ Here in Germany, the national state decides which taxes there are and how much, but not all taxes go to the national state. Some only go to one specific level of government and others are split in a certain way. For example, of your income tax, 15% go to the local government, and of the rest half to the state and half to the national state.

Based Hungary!

and start wonder why everyone is committing more or less of tax fraud.

Didn't the Orange Man get rid of that? The deduction?

@@ericklucasmenezesdelima570 Nope. You can deduct up to a combined total of $10,000 of taxes

@@lukedetering4490 Oh, Sure

@@ericklucasmenezesdelima570 what do you mean sure, you literally can. I have done this and continue to do this.

@@dallyh.2960 Uhhh by sure I mean, sure? As in I didn't knew that you could still do it, but that guy told me you can? What a strange question from u

Get this: the USA actually spends more than the UK. UK gov spends about 4k per head, while the USA gov spends about 4.5k. And then private citizens pay an ADDITIONAL 4.5k, for a total of 9k spent on health per head. The highest health expenditure in the world.

@@fawfulBeans the USA is very obese. Also, overegulation destroys the markets

@@fawfulBeans and yet they get one of the worse outcomes of any developed country

it's 21% I think

Um 20%?!?!? How the hell do you live?

Eu is cancer

Hehe you're always welcome here

25%?, here in argentina everything you buy is 50% taxes

@@FC01 whaaaat?! You pay 50% tax on everything you buy, after income tax and all? If I may ask - roughly how high is your income tax and all that then? 🤯

Tax is only for highjacking people and give them the illusion that it’s for the road and shit but yet everything is worst then ever the roads the system but sure hell wants to vax you and making you safe !

Cause covid right?

@@looshroom1393 nah, less oil money.

Honestly who cares

Texas also has high property taxes so that might equal it out between the rich and poor

The first part is not always true because another reason countries have low taxes is because they are able to do so like rich oil and gas countries in the Middle East and Europe.