Comment Comment by ninininino > In Spain it happened with the Work Tax which from >60k EUR (68k USD) goes to 45% as if earning 3k EUR (3.4k USD) per month made you rich.Sounds worse than it is since it's progressive taxation meaning the effective tax rate for the entire 60k EUR is somewhere like ~29%, not 45.€0 to €12,450: 19%€12,451 to €20,200: 24%€20,201 to €35,200: 30%€35,201 to €60,000: 37%Source: Gemini so it could be complete bullshit.To be fair, VAT is heaver in Europe than for example US, so the overall tax burden might still feel more onerous. parent ninininino 3 months ago
Sounds worse than it is since it's progressive taxation meaning the effective tax rate for the entire 60k EUR is somewhere like ~29%, not 45.
€0 to €12,450: 19%
€12,451 to €20,200: 24%
€20,201 to €35,200: 30%
€35,201 to €60,000: 37%
Source: Gemini so it could be complete bullshit.
To be fair, VAT is heaver in Europe than for example US, so the overall tax burden might still feel more onerous.