This Country Has the Highest Tax Burden in the World
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- Опубліковано 21 січ 2021
- nomadcapitalist.com/tax-reduc...
What country has the highest taxes in the world? In this video, Andrew discusses a report from the OECD which ranks the 37 highest tax countries in the western world.
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No question western Europe has the highest tax... that's why I moved to Dubai from Europe! Now I pay 0 tax and the EU can eat me! You didn't even mention the crazy ~20% VAT in Europe... total insanity!
i don't even really know what a VAT tax is and I'm glad. That's one good thing about the US
@@immaculatesquid Value Added Tax. You have it in the US too, except you call it Sales Tax.
@@joebloggs8292 well i knew the abbreviation i just don't understand how it's applied exactly. but oof
@Armando Machado Well a lot of other western countries aren't much behind. Australia, NZ, Canada, a lot of US states ..
25% VAT in Denmark.
Greetings from a Dane who moved to Portugal. Not a difficult decision. The struggle is getting out of your comfort zone and actually doing something about it in stead of just complaining about your country.
what are taxes like in portugal?
Hi fr overtaxed NYC metro area...Litchfield County, Connecticut...what R the taxes for: yearly property taxes? taxes for food? buying a car? how much is electricity? heating costs? how much is the medical care monthly premium costs to have it? water bill? can U drink the water from the tap?
Did you have to pay exit tax?
I love Portugal but soon they'll be the same as the rest of the high tax countries in Europe. I also heard they were planning on reducing the benefits of buying citizenship there or making it more difficult/more expensive.
You need to check if you eligible for the NHR scheme. Then you will get a lot of tax benefits. If not, Portugal is definitely not a tax haven. But Portugal has so many wonderful things: amazing food, worlds 4th safest country, amazing weather, you are in the EU, friendly people, amazing nature, amazing beaches, cheap cost of living and a cozy beautiful capital. Everything is not only about paying the lowest tax possible. It’s about highest quality of life.
I was so tired of paying high taxes in Belgium as entrepreneur, i even stopped it after working day/night 7/7 for 20 years, my only harvest is debt. They name things differently, divide them but if you make the calculation you end up paying +80% to the state. I know lot's going to say "you should have done this & that"...... believe me, i tried everything.
The truth is when you are alone with no kids, they punish you the hardest, they come and get everything you worked so hard for. The government don't care about anyone, just collect money to fill up the gaps that they always make without any consideration.
Now my focus is on crypto's, staying in self-control & hoping i can leave all this behind me in a few years time. Looking for a job is over, i refuse to keep a lie alive, most people don't even think & prefer to live, work and pay in denial just like a slave.
I do like my country but purely on money i wouldn't have zero doubt to go elsewhere, considering that i have no close relatives it would be easy to leave.
Hey! Also someone from Belgium here! I'm kind of thinking the same. Do you mind if I ask you what you do? Are you a dentist perhaps?
@@naomip.4781 - He just sad cryptos and you are asking him what he does? Nobody will answer that question. Be smart
I am a Belgian too and if I count all the taxes then I end up at least at 75% of my money is going to the government in one way are another. Everything is taxed in Belgium. Most people only count the 21% on everything you buy but there are a lot more taxes on gasoline, your house, your water, your electricity etc that are a lot higher than 21%. Some taxes are as high as what you pay for the product/service, so it means 100% tax. If you sum up all the hidden taxes on your electricity and water bill, you pay as much tax as the product.
@@lifequality4ever283 Hi fr overtaxed NYC metro area.....that's just nuts!
@@lifequality4ever283 Then why did many French business people flocked to Belgium from 2012 to 2017 even though taxes in Begium are as high as France's ones?
Taxes are often supported by people that believe in the mythology of an omnipotent government. For whatever reason this myth seems to be most prevalent in the west.
That’s because there is an elitism there. These aren’t adventurous ppl in the west. One might even call the culture xenophobic, and xenophobia creeps in the worst way. They are prisoners ironically.
@@NotShowingOff that's partially true ,it's not that they're not adventurous it's just that they were brainwashed since early childhood.
Hi fr: overtaxed NYC metro area...Litchfield County, CT...lol....
It's because they were rich and developed enough to go in such a direction. Singapore is a nanny state but they are also efficient. They have a nice safety net but they force everyone to pay into it to take care of their own housing, healthcare and pensions.
I don't mind big govt but I can't handle it if it is not efficient.
Government is a hammer you can use to eliminate inequality. All you have to do is enslave your productive citizens and pump your unproductive ones $50k/year in subsidies. People living on welfare never think they have enough or just like middle class people never think they have enough. But those who live on welfare dont pay any taxes and just don't care.
We had an extended stay in Bangkok. After the usual culture shock, we never missed the USA. We had to use the hospital system, both public & private. The medical care is higher quality, more accessible & about 5% of the cost of care in the USA.
Damn. Higher quality AND cheaper? Hard to imagine from my American bubble
Hi fr overtaxed NYC metro area....Litchfield County, CT....thanks
You're absolutely right. I've been to Phuket & Bangkok in Thailand and loved it. TBH Phuket is a tourist trap with much higher prices than the rest of Thailand but I enjoyed my time there. I also visited Singapore (Waaay too expensive, don't bother living there unless you're rich. It's just as expensive if not more expensive than the USA), Siem Reap Cambodia, Kuala Lumpur Malaysia, Manila/Quezon City Philippines, and Jakarta Indonesia.
If I had to pick my favorite countries I visited in SEA it would be #1 Malaysia, #2 Thailand, #3 Singapore, #4 Cambodia, #4 Philippines, #5 Indonesia.
Thailand has a fantastic quality of life for foreigners. Cheap but delicious food, cheap housing. Naysayers will say it's not as good as it was in the 90's, 80's, 70's, etc. but look at what is happening to the USA. USA quality of life is going to drop like a rock within 10-20 years. I hope by then I'll have moved my family to Southeast Asia somewhere. You can buy property and land even cheaper than Thailand in nearby countries like Cambodia, LAOS, and Myanmar and live like a king at a fraction of the cost compared to your home country.
@@tklown How does one get an indepth view of living in a country they've never been to? ex. healthcare quality and cost, crime, etc.. are there websites that go into depth on all the decision points one would consider?
@@sheiladikshit5110 There's decent places like Singapore. Even in the shithole countries, there are problems. However, for the purposes of people here they are probably going to be living in expat communities where they can escape much of the negative aspects. Plus they can always leave.
I've stayed in Thailand and it's awesome as an expat. It would be quite different if I was a citizen and had to earn a living there. My health actually improved as I was able to afford really decent healthcare for relatively low prices. In the UK my healthcare is free but it's not always the best.
This is such a good channel. I’m not a high net-worth person, but I’m trying to save and I’m making small investments.
Keep going you'll get there . 👍
@@paulbucklebuckle4921 Thank you! I hope so.
A lot of Americans see Texas as this 'asylum' from CA, but in reality, it's just CA Lite lagging maybe 15-20 years behind CA in all the regulations and with all the Californians and New Yorkers fleeing, Texas will be the new CA in perhaps even 5 years.
Killary Hlinton FLA will be in even less time. Watch
Same with Arizona
@WilcoMR-S "Taxans" is a great way to call the "missionaries" of big government.
It seems that the general population doesn't understand that simply throwing money at a problem doesn't fix it. The 'intellectual socialists' seem to not understand that too sadly.
@@killaryhlinton8853 Its easy to throw money at the problem when its other people's money.
The only good commie is a dead commie.
When I went to school and heard about how people in feudalistic societies had to pay a tenth of their income to the nobility, I always thought how unfair this was. Now here in western Europe we almost have to be happy to keep a tenth of our income after subtracting all taxes!
Sea Wolf income tax and property theft are theft and unconstitutional. Imagine not being able to own your own land, because if you can’t pay property tax the government will take it away
And to top it off, Denmark has an obscene exit tax as well!
Makes sense!😂 If they tax you like you are it´s King they sure as hell aint letting you out without paying like a King, "Oh! Such a privilege!"
#!$%!!*^!!! ....whaaaa???
Hi fr overtaxed NYC metroa rea...Litchfield County, CT....lol...if they can't get it outta ya...they'lll squuueeeeeze it out of ya!
How does that work ,
I’m from the US and am living in Denmark. We are almost debt free ( no easy task here, very unique) and will move to the mediterranean after we sell the house. One advantage to having lived in DK are;
1) Everywhere else seems cheaper
2) We will never get tired of sunny, warm summers
3) We can write our own health/dental insurance policies without paying 50%+ in taxes (top skat) for social welfare benifits we will never use
4) I already have a permanent residence visa in the Schengen/EEC, am in the EU biosphere, and am protected by Directive 2004/38/EC, articles 1-7. I’m in the sweet spot, just have to get that maltese passport.
Cheers.
One of the elephants often ignored is the Real Estate Tax. In many areas of the US, the "total tax burden" due to high property taxes exceeds that of most European countries. Add Obamacare and it's No.1 (that's a tax too).
Trump repealed the mandate. Let's see if Biden has the balls to slap on thousand dollar fines. I'm sure he'd get re elected too, if he doesn't croak of course (i'll bet $500 he croaks in or before 2023)
@WilcoMR-S Most W-2 workers simply don't understand that. And something like 47% of people don't pay any federal income tax. Sad! Explains the way it is though.
@@immaculatesquid Some say that was the plan all along ...Sleepy Joe gets incapacitated and the lady VP takes over. Then she's up for reelection in 2024.. since the demographics are changing , she'll probably win in a landslide .
@@ifitsfreeitsforme1852 Blue no matter who conquerors pour in
@@immaculatesquid kam kam will be president in 2 months !....Lyingden just doesn't know it yet! ...he's just a care taker president....he's a front for kam ....kam....Lyingden won't last 4 years...he's a potato....
Great video. Diggin' the daily content.
you sound like a professional
@@Clearcalux No idea what that means.
I found you through the suggested videos. First your videos are very informative. Thanks for all your help. Please keep it up! Just subbed!!
Welcome aboard.
Information is power.. I gotta pick one of Andrews suggestions.. At least to visit for a while
I would argue that South Africa 🇿🇦 has the highest tax burden in the world. Although the visible % tax numbers are not as high ( they close) you get no services for the tax you pay, so indirectly you have to pay again for your private policing/ security, private medical, private transportation etc. 😤
True
So true 🙃 the Western Cape is better, but um yeah.
That is the way Europe is heading since Africa and middle East is moving there..
Thank you for another informative video.
Let's see an update on the list once COVID spending starts to be repaid.
Did you include all the pork that Democrats tried to sneak into the relief bills?
@@venusreena2532 ... I agree but let's not forget that the repubs do the same exact thing.
@Yahargul ... I'm far from a leftist commie Spanky. What I said about repubs is true. They stuff as much pork into bills as the dems do. So lighten up there Francis ...
@Yahargul ... And 10 repubs just voted to impeach Trump for the second time. So much for your useless 'Republicans' ... I'm a right wing conservative. Republicans are as useless as a tit on a boars ass.
@Yahargul How can Biden let in 11 million illegals? What makes you think republicans in the senate will allow that? You understand that politicians talking is one thing and doing it quite another right? Against republican opposition, democrats would need 60 votes to get past the fillibuster in the senate. Nothing that republicans dislike will pass unless it is money related and democrats use reconcilliation.
Thanks for raising this organization to my attention. Always wondered where the pressure on smaller countries to "comply or else" came from, other than from individual governments. Great insight!
Wonderful. You have really opened my mind to think of a better life. Thanks so much for that, my friend.
Glad to help, Aram.
Would be happy if you talk in a video about the Bulgariaan citizenship. Very intresthing in that too, as well as the Portugal Citizenship. But the portugal one have I read a place that will stop it's Golden Visa program in June 2021. It's that correct or not?
India perhaps has the highest tax WITHOUT giving anything in return
Sounds like South Africa.
Some politicians in India are talking openly about moving to a citizenship-based taxation system.
@@dlukton so if U pay 1/2 yearly taxes due...U get 1/2 a passport....1/2 a citizenship....half a vote....(meaning U fill out UR vote...& then halfway they throw it out in front of U???) .....lol.....
@@mela6046 No; some politicians in India want to tax the citizens of India no matter where they live. Under the proposal, Indian citizens would get credit for the tax they're paying in other countries (much like the US government does with US citizens); but there would be no more escaping taxation merely by moving to another country. (The proposal in India hasn't yet become law).
Nope,that's Argentina.
Dominic Frisby's book "Daylight Robbery" is a great book on tax.
I just saw that in the interview with Farage. Will have to read it.
@@hijjik I just finished it. I was expecting it to be funny, but it's a really well-researched and factual book, without being boring.
I like his comedy songs. The one about Brexit is funny.
I would love to see where Canada falls in this list
None of the indexes take into account the devaluation of currency, cost of living, or various hidden taxes like idiotic "green" taxes and mandatory minimum wages.
Fundamentally sound advice. Thank you.
Glad it was helpful!
Much better intro. Love the content!
Glad you like it!
I miss the old intro, I love seeing him point say that building... that building... let's buy that.
@@chrislanejones lol
Thank you Andrew:)
The more I watch your video's Andrew the more I become claustrophobic in my own country. 😉
Wondering if you saw Bernie at the Inauguration- I’d love to see a compilation of Bernie memes with Andrew voice over. Thanks for the great info, as always, Andrew!
In Australia if you make more than 180k you basically get taxed at 50%
Same in UK.
Its less in the UK 45% after £150k
@@kayn6858 its 45% here too but including Medicare levy its 50%.
@@kayn6858 Well, it is also 45% over $180k in Australia. Darko said "basically".
WTF
Thank you Andrew! Excellent info here. Loved your book. I am selling my rental units here in the US so I will be more nimble to bolt. Right now most countries are shut down. Turkey was opened but now all restaurants outside hotels are shut. I am staying put until all this scamdemic C19 hysteria and psychosis is over..hopefully it eventually will be over. We are not free.
Taxes and logic cannot go hand in hand 😁
Josh sales tax only, eliminate all other taxes.
@Josh exactly for the rich tracking their money is important if everyone started paying high taxes how are we going to track the spending also no one holds the Govt accountable so you don't know if you're money was used to solve homelessness or for funding some secret mission in Area 51😉
In Libtard logic it does
@Josh .. So
@Josh The alternative is no tax, simple. If you can’t understand this this very simple logic and need an alternative to theft, I mean tax, then there is really is no point in trying to explain. 🤦♀️
I KNEW it! As soon as the guess was at hand I said Denmark...
I was an account executive in the early 1990's and I met a couple from Denmark... the young man owned casinos. He went on and on and I thought he was joking until all the numbers he was throwing at me jibed.
Madness...
Could you do a video on Andorra? Lots of Spanish and French UA-camrs are moving there to save on Taxes.
Yes. That would be interesting. I hope Andrew does. 👍
Denmark #1? How embarrassing. How come, Germany is not world champion in the tax olympics? Well, at least "we" rank #1 in electricity and import of zero figure entrepreneurs.
19% VAT in Germany, that's outrageous.
@@alchemira 25% in Sweden
zero figure entrepreneurs, I love it.
@@mhairischarin2096 OMG 😱
@@mhairischarin2096 ....lol.....
“A group of 37 countries that have gotten together with the goal of squashing competition”.
So, a cartel?
LoL 😂😆 yes just having a lot more power than the mafia
I would argue UK is right up there, they rename and categorise taxes as various different things but are taxes........we have income tax, VAT =tax on goods and services, duty which is just another name for tax on alcohol and cigs, Inheritance tax, stamp duty, national insurance which is health tax, corporation tax, council tax =basically property tax, road tax, we even have a sugar tax and bedroom tax.I would reckon up to 75% of income goes on the above directly or indirectly.
What do you think of the Czech republic's taxation policies? I know they have a flat 15% income tax but I wonder how much other taxes add up to?
@@henrikjohansson4555 .....Oh ...cool...thanks HJ...............Hi fr overtaxed NYC metro area....Litchfield County, CT
Can you make a video for best places for a Canadian to go to save money 💰 and maybe a playlist of Canadian focused vids?
Hi @Nomad Capitalist, Andrew, I like your content and tend to agree with you on most topics. Denmark has a lower overall tax burden than many others. Highest is Belgium (52.2%), Germany (49.4%) , Italy (48.0%), Austria, France, Hungary, Czech Republic and others. Denmark is 35.4%, all Income Tax. I read the OECD reports for 2019 and 2020. Denmark has indeed the highest income tax rate on wages (35.4% compared to say Germany at 16.1%. But the others have tax by other names (employer and employee social security contributions) and Denmark does not. Denmark just puts it all in one category called Income Tax. But it's the total involuntary taxes (theft) that matters.
*eminist society = high taxes
We know who taxes benefit (mostly). You can imagine my surprise.
Exactly. Not only do the feminist countries have the highest taxes, but the legal systems are highly misandrist. Avoid at all costs, if you’re a man.
Gee, there are a lot of misogynists here. You sound lke men from Middle East who want women to stay at home.
@@as-1982 women have to stay home in the West too. And cover their faces in public.
@@dr.winstonsmith At this point in my life, I do! I live in Russia now.
@Doge Boi Yes, and then men have to end up paying the price twice. First, they lose their jobs and business opportunities and then they are taxed from here to eternity to cover the same w**** that hijacked their chances of obtaining the job in the first place.
Denmark is not the worse, the worse is france, heaviest tax burden in the world by far!
If only they understood that taxes prevent any small business to grow omg. Stupid governments...
the don't want you to rise up, easier to control you if they can throw you some crumbs
I call it penalizing performance. The more you make the more they take.
How can they grow without infrastructure? They aren't paying to pave the roads and all the other services. The income for that has to come from somewhere. I suppose it could work if people created off grid businesses but the cost of entry would be higher and lets face it, that isn't going to happen.
@@theuglykwan even if you pay a lot in taxes, they put up toll roads
@@generalshepherd457 Depends on the country. Singapore has toll roads but cars are so expensive and public transport is so good it doesn't bother the masses.
In Canada we increase taxes. Spend more on transit. The trains are still late as usual.
The taxes pay for the refugees, not the trains.
@@sexygeek8996 I guess.......they lied to ac z...U blew Canada's cover....
The highest tax burden countries are the most gynocentric. You can imagine my surprise. Like I've said before, we know who the taxes mostly benefit...
In Kenya they tax everything. They're almost taxing rain and sunshine to your home
I'm not surprised that it's one of the Scandinavian countries.
Taxes & shitty weather. Nice to be living in Finland🤩
Fucking hate it here
@@christianorsa And still, in 2020 the UN Happiness Index ranked Finland number 1, for the the third year in the row. Based on statistics and personal interviews. All the Nordic countries ranked high here.
Lmao "Denmark couldn't take anymore." So it had to be number one
Hay andrew, can we get a blooper reel...I know you must have a bunch of failed intros and country name fumbles 😂
great idea!
South Africa is no picnic either, even consulting with my lawyer to set up a trust or foundation or both to reduce my tax as much as possible. The Dubai golden visa even popped to mind, hope it wont be too late when I apply for it
A bottle of wine in Georgia, I think I might be able to convince my wife to come.
Andrew, please make a video where are employees treated the best in terms of taxes. I would say there is many employees who want to start a business but they need to earn some capital first.
After this Covid mess, if it ever gets better, should any nation want to get off the economic bottom again, government will have to be cut massively, and taxes reduced to encourage hard work, savings and investment. If not, what is the sense of life just making yourself a serf to those who don't give a damn about you?
Don't count on it.
Most countries are working by the World Economic Forum's play book which means they are using this virus to ruin the economy so when you are penniless and starving you can beg the government for UBI and then they have full control over you.
And including social security/state healthcare contributions, germany recently took the cake from Belgium!
Check the OECD total tax burden comparison. Belgium and Germany (the country with the highest electricity prices worldwide) have the highest total tax burden on their respective peoples.
Dang, that's all well-put.
Comparing Ohio roads to Dubai roads is not really a fair comparison because of the freeze and thaw cycles in Ohio. Dubai does not need to deal with that. I think a more fair comparison would be Florida or Arizona. Regardless, I'd rather get an off road vehicle with bigger tires than pay higher taxes any day :)
Try California roads - The worst I have ever seen in my life. There is no excuse as the weather is always nice here.
SPAIN will definitely be the 1st one on that list for 2020 and beyond
Err why? I m french, but have a home in Spain too...Spain taxes are kid's pay when compared to french ones.
And 100% more cost on a car compared to germany and 25% VAT. And progressive income tax up to 60%
so all in all the real tax is about 75%
Greatings from Denmark
USA...is the ONLY country that RUN after U for taxes anywhere BASED on citizenship....the ONLY country on earth !...(vs residency based)
It doesn't make any difference to me which country I choose to live in has a high tax burden, as I always am able to find creative ways to find loopholes around paying tax for offshore earnings and savings.
Every year the value of money Decrease by 1% which means the tax will always rise
They actually give out a “prize” to countries that scalp their citizens 😯? If I’m a country and this group is knocking on my door it might be time to release the hounds! Thank you for the daily dose of eye opening education 😊.
The total household debt-to-GDP ratio in Denmark is one of the top 3 or 4 highest in the world. How could that be when Bernie has assured us that the Danes are "the happiest people in the world" because the state provides for all their needs?
your voice sounds like Sheldon cooper :P
These rankings are made by "interested" parties
A fundamental problem in the West is the belief in egalitarianism, and before anyone starts I'm not talking about inter-ethnic egalitarianism. I mean the belief in intra ethnic egalitarianism among the homogeneous majority population that feels that each member ought to have equal say in a society, because it's a democracy. Such an idea is in natural opposition to human nature, those who are taxpayers will naturally demand more of a say than those who are tax consumers, whether as government employees, contractors, or receivers of subsidies.
The natural results of these demands for egalitarianism, is that you must turn the system of Taxation , aside from a system of spoils, into a means by which to reduce the income of one portion of the community to bolster the other portion of the community to Foster egalitarianism.
when there are too many people in the wagon and not enough people pulling the wagon its the end
@@johndubose1395 Amen!!!
@@AlexAlcyone human beings are herd animals, it is the process and status of civilization which creates hierarchy and differentiation among individuals. The pool toward egalitarianism is natural to human beings, hence why civilization requires constant effort and expansion to survive. Why the ancient Sumerians considered the greatest gift the gods gave Humanity to be kingship, differentiated leadership.
Like Churchill said; a country that wants to tax itself into prosperity is like a person standing in a tub trying to lift himself.
4:31 very funny!!!!!
Hey guys,
I'm curious what ("nomad") communities you could recommend for people who are interested in that type of stuff, but are just starting out and don't fit Andrew's 7 figures+ target clientele.
(sry Andrew, I'd like to use your services but I gotta get $$$ first, and as you're correctly stating it, it is basically impossible to achieve that in any OECD country, esp as a normal employee ;) )
Any forums / discord servers would be welcome.
Thx and have a nice WE.
I have a sole proprietorship business in Sweden. Unfortunately the over 50% that goes to tax and fees is a huge burden to being financially free.
Haven't watched the video yet, but from general knowledge I am guessing you are referring to the Netherlands. Or if not, Luxembourg. Both have absurd taxes.
Edit: It's Denmark. Not surprising to me either by the way.
Why make such a big involved move if there is no benefit.. Andrew nails it again
Andrew, what's your advice for people in jobs that would have a fairly hard time moving where they would be treated best (such as doctors) due to regulations on ability to practice?
I would think a western trained doctor would be able to work anywhere in the world?
@@claythomas359 I would also think that, but often you need to restart your training from the intern level of training
Structure yourself and invest
Please let us know which countries are best i.e. will steal the least from us when we go to cash out some of our cryptos and PM, for which we worked so hard and had the foresight in which to invest. Thank you.
In Canada - you pay tax on a new car - amount dependant on value of car - gets higher above $55k ! Sell that car and the new buyer of your used car has to pay tax on it again - yep !!! Crazy !
Canada has to be in the top 10 of those 37
You do realize that the roads in Dubai were not built nor maintained by the citizen of Dubai, but by some of the 250,000 foreign labourers that entered the city and also paid slave labor wages. So yea if you can get foreign slaves to work on the roads of Cleveland, Ohio the citizens of Ohio would probably paid lower taxes.
Go where you are treated best.. jersey shore still OK for me ;) under evaluation ATM.
Should I be glad that I only have to pay 45% at max in Korea, an OECD member?
move to New Hampshire .... weather is the same BUT U keep UR money & state motot is live free or Lie ( ...minus.... the L..."+ D)
I’m not sure about Europe, but with the United States the problem is with too much spending not taxes. The US still spends more than it gets in revenue and citizens still have high health insurance on top of that. Just be glad you’re not a wage earner because then your tax rate can be even higher. Russia has a 13% flat tax, hardly any national debt, cheap health care and low cost education. It does seem like these high debt or higher tax countries are doing something wrong if citizens aren’t getting more services for their tax dollars.
There is also an Alternative Tax to the Tax of 50℅ which would be of €500 or it would be aptly put as cut the School short
Hey Mr Nomad Capitalist, is Malaysia safe to escape to? I'm just a guy looking to flee lockdown England.
@@Timithos A scoutong vacation is a good idea. I might join you.
Check out the "The Tax Burden of Typical Workers in the EU 28" report by Institut Économique Molinari, might be interesting even if you're not a typical worker. It's easy to find online somewhere, though a bit outdated (2019). The report made me realize that my country's (Slovakia) taxes are almost identical to e.g. Sweden and are even higher than in Denmark (but probably only for "worker incomes" - our government robs everyone, while Scandinavians only rob the rich people). Anyway, combined with the notion of how the tax money is used in this region of Europe, this realization is, well, outrageous. To explain it simply: we do not expect the train to be on time.
So, this report took into account the income tax, VAT, and the "social security" (which is basically a clandestine word for more taxes - the bigger amount of it paid by the employer so most people don't realize they are taxed almost 50%) to measure the real taxation rates.
i am guessing Denmark. We will see if i am right in a few minutes...The reason why i knew is because i read an artilcle once where the average property tax in Denmark is 7 grand a year
The tax in the US is based on house value. Our taxes are similar on that.
If California was independent it might take the cake!
the opening music much better
The OECD is not a "lobbying group for higher taxes". It is an organisation of high-developed countries who cooperate when it comes to financial politics, transparency, financial research. The strange thing is that whereas high tax is ridiculed by many, those countries are actually quite popular to live in. They may not have the ideal setup for entrepreneurs, but can be much better for ordinary workers, which tends to be the large majority. Example: Denmark has very high taxes, but also is consistently among the "happiest" countries in the world.
Therefore entrepreneurs should want nothing to do with them. Everyone should go where is best for them.
I'm surprised it wasn't Portugal
Roads in Shaker Heights is nothing to brag about! Beograd and Zagreb have better roads; a big surprise. Cleveland looks more like Bangalore, India roads!
Should have gone through some of the ranks and compared them to give perspective to your point that people in countries lower down might not be that much better off. Kind of a missed opportunity there. Unless there is a separate video for that.
he said: Gobelee Gook.. dats funny
If you make US$ 200K Denmark is not a bad deal, given all the social support you enjoy there, including high quality free education, healthcare, social security etc. But if you earn a million this is robbery, since there is so much social support you can use... same in the US. Anything in excess of half a million a year is taxed similarly, but nothing is free as we know.
My lifestyle is such that I never spend more than 50 days a year in any country (sailing around the world), my kids are gone from home , and my wife travels with me, so I have no specific vital interest in any country. I was told that in my case I could claim globetrotter status and basically pay zero taxes as long as I maintain this lifestyle, provided that I have the right passport. Think I am going to be reaching out for support soon.
Hi Andrew, I know you mentioned that Denmark has the highest tax among the OECD countries and mostly your target audience is in the U.S. and Europe, but by no means it would be the highest taxes in the world. Check Brazil and Argentina! Both of the countries have a tax system that is hard to grasp, tax can get higher than 50% in a single bottle of alcohol and yet there are very few deductibles when it comes to income tax (even though the personal income tax is lower than U.S. or Europe). Wonder why so many Brazilians invested a million dollars under the EB-5 visa to get U.S. green cards. Those who can afford it, just do it!
America is trying to become first with Unrealised capital gains tax..
I pay federal, state, county and city taxes.
you should also donate the rest to be a totally good boy.
Name and shame, the most effective way to play the game.
Can you spell Germoney ?
lol
Ordinary people should not have to pay any tax, the corporations should pay it all, they cant do that bc they mean to keep the working man poor, the very person who creates the wealth in the forst place
When you pay taxes, you also pay to support the values of that country. If road are what matter more than values - seek the best roads. Most reasonable people want a place that has some good values and good enough roads. Dubai is new and of course the infrastructure is new. Is that where you want your kids to grow up? Do you support the morals and example of Dubai and believe them to be the best that is possible for humans to follow? I just think the analogy of "Road in the US are bad" and "Roads in Dubai are better" to be too simplistic. Where will you go when oil is no longer king and the money run is over? If you were to start all over again, would you rather have grown up in America or Europe, or Indonesia or Mexico, Saudi Arabia?
I moved to Europe and know plenty of wealthy Europeans who never lived outside of Europe. How did they do it with the taxes? How is it they and middle class Europeans get to travel to more places in the US than Americans can?
Dude, it's corruption! Politically privileged people. Did you NOT hear about the OECD employees?
Australian taxes higher than Norway in reality there 32% - 48% income tax , 60% tax fuel , 50% liquor tax , 90% smokes tax " 10% -20% tax on products " 13% - 51% tax cars " 16% super rax " property 15% tax , capital gains tax , fringe benefit tax , 5% custom duty at port , high business tax , high red tape on business = middle class pay 50% tax or more
Please make a video about india's tax system.....does it shows signs of a tax Haven?
The roads in Dubai are good but the drivers are shocking