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!
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 ;)
@@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! :) )
@@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)
@@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.
@@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.
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.
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.
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.
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.
@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 :)
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.
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 %
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.
@@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.
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 😊
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.
@@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
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 $) a month. This will be deducted through taxes.. My dept for the SU was around 100.000 Kr in 2010.. still owe some
This was very interesting from a Danes perspective. I actually thought the taxes was WAY lower in America. I love the Danish system, and the safety in knowing, that if my children, husband or I ever need medical help of any kind, I don’t have to hesitate to se a doctor or call an ambulance if it’s needed. Thank you for the simplified explanation, even though I know that there’s more to it. 🙏🏻😊
Nej vi betaler alt for meget i skat, som bliver brugt alle muglige ligegyldigt lort, fx jobcenter som på ingen måde virker, og DR hvilket er til grin at have en national tv station, der ikke engang kan se neutralt synspunkt
@@sirbattlecat between 8 to 10% is actually the tax ( or vat) to anything you buy. For example, in IL, let's say you have 20$ worth of groceries, at checkout you will actually pay 22$. If you want to buy a tv for 500$, it will actually be 550$
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.
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! 💚✌️😸
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.
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.
@@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).
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 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.
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).
@@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.
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"
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 🖖
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.
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!
@@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
@@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.
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 $20.000 for an appendicitis surgery. I hope you guys are doing well here in Denmark, and I look forward to seeing your next posts :)
@@TravelinYoung it does indeed look like that too ;) Also if you're interested, I think a good addition to your try-it-out Tuesday could be the addition of some of the very Danish drinks! I.e. Filur Isbjørn Brandbil (med udrykning) Skumbanan Æblekage Kung-fu These are all drinks you are likely to find made by some amateur batender at a family birthday/wedding/high school party. They're all quite culturally Danish, and I would gladly help you find the right recipes :)
Thank you, this is SUCH a great explanation. You made it really clear why it is that taxes are high - i.e. you GET A LOT for them, which is so important to point out.
Nice presentation of the tax systems. I think one of the most important points of the danish tax and welfare system is that it is completely unprejudiced and acts as a safety net for everyone. Everyone, no matter their background or their families income, have the right to the same pension, health care system, and if you get fired, the state will also support you, so you don't have to rely on e.g. food stamps to even sustain yourself. Education is free for everyone as well, and everyone is entitled to recieve the State educational support grant (~1000$ 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!
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.
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
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!
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.
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.
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.
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!
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 :-)
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! 😄👌🏼
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 😂
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....
@@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...
:)) 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 🤷♀️
@@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...
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!
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!
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.
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 :-)
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.
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.
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.
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.
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.
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%!
@@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.
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.
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
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.
@@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.
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.
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.
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.
07:45 You compleatly forgot to mention that danes in Denmark, not only have "free" education, but that you actually get paid to study in Denmark from college degrees or equalevant and up.
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❤👍
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.
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?
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)
Late to the party but Nice video as always, you guys have really been growing your channel throughout the lockdown. Heck I wouldn't even be surprised if some Danish news media like TV2 Lorry would try to contact you guys if the growth continues!
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.
The tax comparing you make 'Denmark vs USA'' are very illustrative and really points out how proud we can be of the danish system (read: all included health care, education etc.). Tip. I presume you are interested in delivering information and guidance to foreigners about Denmark. Round the world people speak english but some of them may not do it very well. Therefore add english subtitles to your videos that would - without doubt - raise the amount of subscribers.
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)
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.
Great video and thanks to the simple examples, I feel like I tried to explain this exact aspects to my american family and friends that the difference holistically is not that big. My wife is moving here from LA pretty soon and we hope you put out a video talking about what impact it has for an american having financial assets in US while living and working in DK? Thanks for a great channel!!!
@@fungamesandstories however we have an opportunity to get 3% on some of the money that is in the DK bank as long as it's under 1 million DKK. That part is difficult to compete with in the US.
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!
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
@@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
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.
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.
@@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
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...
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.
Great video as usual. A fun video to watch could be a piece about You guys take on what we Danes could learn from the US. Having lived here for a while now, some things or ways we handle ourselves in Denmark may have popped up as pretty weird or even dumb compared to how they are done in the US. I know many Danes believe everything is done the smartest way possible here, but who knows - maybe one or two things had room for improvement here ;-)
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
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.
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 😊
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.
@@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.
Great channel! About liquor from Scandinavia, Norway also have liquor other than _tyrkisk pepper_ , like _akevitt_ (a Norwegian 'translation' of aqua vita in latin (witch translates to 'water of life')). This is a special liquor destilled of potatoes, and only made in Norway as far as I know (although you can get akevitt in Sweden and Denmark too, but they're destilled of different types of grain, not potatoes) This kind of liquor is strongly connected to Christmas time and goes very well with the Norwegian christmas pork ribs, or lutefisk (cod in lye). Go for _Linje akevitt_ or _Løitens akevitt_ , those are considered the best ones. Cheers 🍻
I love the way you are explaining the taxes. I know you guys said its complicated and you didnt wanna go too deep in to it. BUT I gotta say though its worth mentioning that people in Denmark are paying a different procent of their saleries depending on their income (between 38 procent and 60 procent). Rich people pays MORE. We also have a 25procent tax on the food and the 180procent tax on cars. Without that system, there would be no chance, the danes could affort the wealthfare system and our extremely expensive education system. thx again for a great upload.
Thanks! Haha, well fewer oatmeal cream pies for sure since moving :). I’d say one difference is we shop more often here. We plan to do a video about grocery stores. We’re hoping we can do it after a trip to the us so we can include footage and prices/etc from a store there.
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)
@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.
Haha I like how you've learned some things rile people up. I won't come with a deeper perspective since it was not a part of the video. But I also love that you almost died trying vodka and Turkish peber
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!
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.
I'm a little surprised, I thought taxes were lower in US, although cost of living is probably cheaper aswell, I very much enjoy the safety net we've got in Denmark. Keep the videos coming :D
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?
@@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...
@@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
@@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.
in usa, pensions often gets stolen, in Denmark and other countries, coorporate america found enough to help them erode our pensions with faulty math setups. Our pension age, used to bee 65, or 62, now, its an illusion for workers.
@@painterQjensen Same thing in Denmark. Being born in the mid-70's, my official retirement age is currently set to be 70 or 71, because average life expectancy has gone up.
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
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.
What a cool topic. Awesome that you took it up. Also, that did not go the way I expected it to, would have thought the base difference was bigger. On the topic of 18th birthdays and stuff you get for your taxes, if you didn't know, dentist visits are free in Denmark until you turn 18, so make sure to get your fill before then ;) (not a comment on your teeth, just a heads up, so you don't like me discover a cavity 2 weeks after your birthday, and have to pay out of pocket)
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.
I'm Danish myself, living in Lyngby, and I think the explanation up to 10:16 was fairly misleading regarding the Danish system. Firstly, the Danish state health insurance will not cover a whole slew of different things. Dental care is not included at all, for instance. There are also many kinds of treatments you might need that aren't covered but which aren't considered core medical - for example if you get horrible back pains due to working long hours in an office chair, then you might need massage or retraining. The Danish healthcare system will not help you there. Secondly, the Danish system makes some very unfair competition, which results in some pretty grotesque situations. There are private hospitals around my area, and I go to them because of what I'm about to tell you, but suffice to say they are only for fairly rich people because ordinary people can't afford them. For favourite go-to is my own case: I have epilepsy, and one day I fell and knocked a tooth out. So I get to the hospital, and they call me a "drunken idiot" despite the fact that I am walking around in a suit with a briefcase at my side on the way to a government agency. Yeah, I know, right? Then they laugh at me as I'm lying there half paralysed and groggy and throw my tooth away and then fail to note it down. I sue the hospital by going to the state courts, but the hospital is owned by the state. After getting my teeth fixed for a total of 35,000DKK including temporary implants and whatnot, I finally win my case after _THREE YEARS_. After that they wait another 18 months before they finally pay out 2,000DKK after fees and deductables. I was fuming, but what am I supposed to do? Go to the state to complain?! Why did this happen? Because I believed, as you do, that the Danish healthcare system is good and will cover me. It is not, and it will not. Garbage like that wouldn't fly in America. Not in a million years. And so now I'm paying health insurance again, and I can't get rid of paying for the public one - so now I'm paying two health insurances. And then there's Danmark, a 3rd health insurance that covers medicine bills and things like that. Oh, and my work gave me a 4th one, but it's worthless. So I have 4 health insurances. How awesome is that? Thirdly, the same applies to schools. Most public schools in Denmark are terrible, and a lot of people will put their kids in private schools if they can afford it. Fourthly, not including VAT is a pretty big deal, because the Danish VAT is very high. Fifthly, A-skat changes depending on where you live. Just like there are state tax and federal tax, in Denmark there are kommuneskat and statsskat. Don't get me wrong: Denmark is a good place to live because of our security and our peace and quiet - but our economic structure has become absurd, and it's really all about the monetary government policy. While Denmark is in general liberal, we have this welfare state that consists of state-owned corporations and sanctions against companies who compete with them, creating a sort of fascism-lite. And I don't use fascism in the usual sense where people don't know what it means and use it as a catch-all for bad things. I mean state-owned corporatism and private expropriations. It's really not that great, and I'm not sure that it's better than the American system. Maybe it is - but just slapping on all the extra costs to the American version that Danes "just don't have to deal with" - we do. We absolutely do.
Well... With a pre-existing conditions(epilepsy and chronic backpain), how do you think you would do in the U.S? Sorry about how they treated you! That is really shitty!
@@sveinbjrnjonsson604 Interesting question. The way I see the US is that it's got a very different but just as large problem: Racketeering. I think it's pretty obvious to just about anybody that a hospital bed and most treatments simply do not cost what they charge for them without a health insurance. Not even close. Something seriously ought to be done about this. It's not okay that something that really costs $300 to do suddenly costs the customer $10,000 because you didn't get insurance. They should not be able to charge a different price whether it's directly to a customer or to a health insurance. Once you do have health insurance the USA's health system is generally better than Denmark's. There's more experience, expertise, and the treatment is generally better. Pre-existing conditions mean nothing. See HHS's website: www.hhs.gov/healthcare/about-the-aca/pre-existing-conditions/index.html
I appreciate the comparison, well done as such. The problem with such comparisons in general are take home in your pocket is not the same as available to you if you get sick, have to pay for education, healthcare etc. We compared living in Sweden with Switzerland and found that with 3 kids in teens, school costs would far exceed the app 45% tax we would end up paying in Sweden and house prices / living costs were out of reach. Once the kids have left home the equation would be other way round.
@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.
@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.
@@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.
@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.
@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.
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.
@@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.
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@@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.
For a less salmiakky liquorice shot, perhaps you should try the green Ga-Jol shots. :) It is liquorice with pomegranate (granatæble) flavored. There are versions based on all the different flavors of Ga-Jol, but the green one is a pretty popular combination. (Also known as "Små Grønne" from another brand with half the alcohol.)
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.....
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.
Pretty bad idea to discuss taxes without discussing the benefits. Which is why I was surprised when you DID discuss the benefits of tax distribution. So why the disclaimer at the start? To avoid mindless dislikes from tax-haters? Well, you almost got a mindless dislike from this tax-supporter XD Glad I decided to watch the rest of the video. As a Dane, I am happy to see how thoroughly you laid everything out. One additional thing is, that where you place your daughter's college tuition savings on you as parents, many of my American friends have had to pay their entire tuition themselves, potentially landing them in debt until their 50's.
I am probably a bit old fashioned, but I was brought up being taught that in Denmark, you borrow money to buy a home (an asset basically) and to buy a vehicle if you absolutely have to (best thing is not to do that if possible) but you never borrow money to buy things of convenience or consumer products. When you borrow money to buy a house or apartment, you seriously need to consider as short term a mortgage as possible (10 years instead of 30 years if possible) for the simple reason that you start to build value in your asset much faster with a shorter term mortgage. One of the biggest differences between the Danish and American tax systems is probably that the Danish system provides a greater level of peace in your life and especially if you suffer from a chronic condition that requires frequent interaction with the healthcare system.
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. :)
Having been "fortunate" to pay taxes in both the US and Denmark, I do agree they're closer than you would think, which you wouldn't really notice without going through the details like you did. Now, once your taxes are out of the way, the next comparison should be how far you get with what you have left. I do think we're better off here in the US vs. DK, but the proof is in the pudding.
@@mettelindegardnielsen9411 Literally everything lol. You pay 25% extra tax (moms) on every single purchase you make. That is ludicrous. On top of that you pay extreme taxes on gas, electricity, vehicles and extra taxes on things like sweets, drinks, alcohol, nuts, and so on.
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 :)
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.
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!
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 ;)
@@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! :) )
@@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)
@@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.
@@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.
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.
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.
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.
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.
@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 :)
@Archytas Repentus I would really love see the source behind those numbers.
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.
Thanks for this, I am glad you liked it.
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 %
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.
Denmark has too high taxes, Germany is cheaper.
@Lukas Ibsen yes it do... I hate paying taxes
@Lukas Ibsen how is it superiority to pay $25 handling fee and 25% sales tax of packages from America?
@@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.
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 😊
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.
@@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
du glemmer så at en der studerer ikke tjener 50k om måneden, så det ville aldrig blive en ting i den her udregning ;)
@@Chewmybaccas man er barn af en som gør!
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 $) a month. This will be deducted through taxes.. My dept for the SU was around 100.000 Kr in 2010.. still owe some
This was very interesting from a Danes perspective. I actually thought the taxes was WAY lower in America. I love the Danish system, and the safety in knowing, that if my children, husband or I ever need medical help of any kind, I don’t have to hesitate to se a doctor or call an ambulance if it’s needed.
Thank you for the simplified explanation, even though I know that there’s more to it. 🙏🏻😊
Yup worth the tax when you look at it like that and remember how the rest of the world is, or getting humbled.
Yes, I also thought the US taxes were tiny compared to Denmark, it always seems like people are shocked learning about our taxes.
Nej vi betaler alt for meget i skat, som bliver brugt alle muglige ligegyldigt lort, fx jobcenter som på ingen måde virker, og DR hvilket er til grin at have en national tv station, der ikke engang kan se neutralt synspunkt
Same here. I actually thought Americans only paid like 8% taxes. Perhaps that's the VAT (or moms).
@@sirbattlecat between 8 to 10% is actually the tax ( or vat) to anything you buy. For example, in IL, let's say you have 20$ worth of groceries, at checkout you will actually pay 22$. If you want to buy a tv for 500$, it will actually be 550$
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.
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! 💚✌️😸
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.
Definitely, btw, Søborg is nice also :). We lived there when we first moved to DK. Thanks for the kind words!
Many ppl think we pay a lot in taxes here in wonderful Denmark. Thanks for explaining it that well😊
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.
@@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).
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.
@@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
@@yaboyis2236 My information came from the Danish Government (medical) about 3 years ago.
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 :)
Thanks! It is stressful which I think reduces happiness :).
@@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.
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).
@@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.
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"
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 🖖
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.
Though you have to remember that living in Copenhagen is significally more expensive than anywhere else in Denmark...
And include insurance cost for Car, Health, house, etc
Denmark is the most expensiv country to have a car in, in europe
@@smokesomekeefelbandido2184 It's also the country in europe where a car is least necesary
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.
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!
Haha!
Let me hug you for putting it so clear and simple.
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.
@@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
@@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.
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 $20.000 for an appendicitis surgery.
I hope you guys are doing well here in Denmark, and I look forward to seeing your next posts :)
Thanks we are doing great here!
@@TravelinYoung it does indeed look like that too ;)
Also if you're interested, I think a good addition to your try-it-out Tuesday could be the addition of some of the very Danish drinks!
I.e.
Filur
Isbjørn
Brandbil (med udrykning)
Skumbanan
Æblekage
Kung-fu
These are all drinks you are likely to find made by some amateur batender at a family birthday/wedding/high school party. They're all quite culturally Danish, and I would gladly help you find the right recipes :)
The best tax explanation i've seen to date. Godt gået! 😄👍
Thank you, this is SUCH a great explanation. You made it really clear why it is that taxes are high - i.e. you GET A LOT for them, which is so important to point out.
Getting acclimated to liqourice, loving it.
@@Skedge salty or get it away from me 😂
Lmao... Best gift to Americans 😂😂😂👏👏👏
tyrkisk peber > all other forms of licorice
No videos better than this explain minor & major differences in income and social security taxes between the US and Denmark. Thank you!
LoL no there is not and certainly not in the US... Have u seen US, some places is like a 3 world country.....!!!!!!
great explaining mate, I'm danish and it was useful to understand the American tax situation
Nice presentation of the tax systems. I think one of the most important points of the danish tax and welfare system is that it is completely unprejudiced and acts as a safety net for everyone. Everyone, no matter their background or their families income, have the right to the same pension, health care system, and if you get fired, the state will also support you, so you don't have to rely on e.g. food stamps to even sustain yourself. Education is free for everyone as well, and everyone is entitled to recieve the State educational support grant (~1000$ 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!
Planning a Q&A when we hit 10k subs. Would be a fun way to celebrate together :). She’s getting better!
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.
i loved that. definatly gonna steal that :D
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
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!
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.
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.
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.
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!
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
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 :-)
Thanks! Oh we’ve got some pure shots, it is good! I bought it willingly :).
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! 😄👌🏼
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 😂
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....
@@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...
:)) 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 🤷♀️
@@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...
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!
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!
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.
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 :-)
Thanks!
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.
Yeah, taxes on cars is rough in dk. Thanks will do!
@@TravelinYoung it’s evident that there has never been a danish auto industry 😉
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.
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.
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
We have sales taxes in Denmark as well, they are just included in the price.
@@Solfalk det hved jeg godt men i us er det ikke samme i alle stater plus "tips"så folk kommer op på mini lön
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.
Sales tax in Denmark is 25%
Very interesting. I like your logic. Seems like both of you have a great grasp on economic
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.
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%!
@@fthorup If you buy an EV theres no tax - only vat 25%
@@JunkerOnDrums oh no - its way more complicated than that...
www.skm.dk/media/7451/faktark-om-prisen-paa-elbiler.pdf
@@fthorup Okay cars under 400.000kr only 25% VAT!
@@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.
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.
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
It's very difficult to compare given the vast differences in cost of living from city to city, state to state in America.
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.
Don´t forget - You will get your payments to ATP back when you retire - its a pensionfund - nice narrator voice, very soft.
nah, you'll get SOME of it. Tax daddy takes a cut.
you forget if you have a private pension or money in the bank . that is also partly deducted from your atp pension.
@@lmutley even better. Not.
If you ever get that old, many don’t
@@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.
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.
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.
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.
07:45 You compleatly forgot to mention that danes in Denmark, not only have "free" education, but that you actually get paid to study in Denmark from college degrees or equalevant and up.
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❤👍
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.
Great videos guys! You should make one analysing how the two countries spend tax differently (e.g. Military, Police, Prisons, Education, etc...).
Im so happy that you call it kroner and not crowns. Thank you!
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?
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)
Tak! blev virkelig irriteret over hvor forkert deres beregning var.
Late to the party but Nice video as always, you guys have really been growing your channel throughout the lockdown. Heck I wouldn't even be surprised if some Danish news media like TV2 Lorry would try to contact you guys if the growth continues!
Thanks, and yes, it has been unreal! We have had a blast so far, can't see where things go from here :).
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.
The tax comparing you make 'Denmark vs USA'' are very illustrative and really points out how proud we can be of the danish system (read: all included health care, education etc.).
Tip. I presume you are interested in delivering information and guidance to foreigners about Denmark.
Round the world people speak english but some of them may not do it very well. Therefore add english subtitles to your videos that would - without doubt - raise the amount of subscribers.
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)
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.
Great video and thanks to the simple examples, I feel like I tried to explain this exact aspects to my american family and friends that the difference holistically is not that big. My wife is moving here from LA pretty soon and we hope you put out a video talking about what impact it has for an american having financial assets in US while living and working in DK? Thanks for a great channel!!!
I have also decided to keep my assets in the US since after 1 million DKK I have to pay to keep it in the Danish bank.
I think that is a good idea. I would keep my money in the US banks, or convert them into euros
@@fungamesandstories however we have an opportunity to get 3% on some of the money that is in the DK bank as long as it's under 1 million DKK. That part is difficult to compete with in the US.
Oh wow ! I get 0.02% 🤣
@@fungamesandstories in the US, right? After a million kroner in DK, you have to pay the bank to keep your money in the bank.
Another great video from you guys 👏😊
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!
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?
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
@@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
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.
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.
@@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
You truly live the life of a dane with all that alcohol, lmao 🤣.. Great to see your channel is growing guys.
Bless you. 🇩🇰🇩🇰
Trying to assimilate :).
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...
50.000 DKK is a relatively high salary.
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.
Remember to shake the bottle :). If you havent noticed, the danes like liquorice :D
Great video as usual. A fun video to watch could be a piece about You guys take on what we Danes could learn from the US. Having lived here for a while now, some things or ways we handle ourselves in Denmark may have popped up as pretty weird or even dumb compared to how they are done in the US.
I know many Danes believe everything is done the smartest way possible here, but who knows - maybe one or two things had room for improvement here ;-)
You have to remember that atp is not primarily a tax but a pension saving (arbejdsmarkedets tillægs pension).
that will also get taxed upon reaching your retirement age.
@@Softpaw1996 is that a folkepension (peoples pension).
@@g9nnar partly.
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
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.
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 😊
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.
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?
@@tixximmi1 source?
@@thomasbaagaard Look it up I"m not your mother. Go to Government, Denmark
@@tixximmi1 12k people out of 6 million lmaoooo
@@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.
Great channel!
About liquor from Scandinavia, Norway also have liquor other than _tyrkisk pepper_ , like _akevitt_ (a Norwegian 'translation' of aqua vita in latin (witch translates to 'water of life')). This is a special liquor destilled of potatoes, and only made in Norway as far as I know (although you can get akevitt in Sweden and Denmark too, but they're destilled of different types of grain, not potatoes) This kind of liquor is strongly connected to Christmas time and goes very well with the Norwegian christmas pork ribs, or lutefisk (cod in lye). Go for _Linje akevitt_ or _Løitens akevitt_ , those are considered the best ones. Cheers 🍻
And students can get SU when they study.
But not for as many studies as you want. There is a limit.
@@thedanishvikingpilgrim5753 Noooot really. There are ways to circumvent that.
@@ANTERIORcs there are limits
@@thedanishvikingpilgrim5753 please tell??!
@@Uzi2800 You can get up to 70 months of SU. This applies even if you change from one education to another.
I love the way you are explaining the taxes.
I know you guys said its complicated and you didnt wanna go too deep in to it. BUT
I gotta say though its worth mentioning that people in Denmark are paying a different procent of their saleries depending on their income (between 38 procent and 60 procent). Rich people pays MORE. We also have a 25procent tax on the food and the 180procent tax on cars. Without that system, there would be no chance, the danes could affort the wealthfare system and our extremely expensive education system.
thx again for a great upload.
Great explanation. You guys make great content. I was wondering if your grocery list have changed after moving to Denmark?
Thanks! Haha, well fewer oatmeal cream pies for sure since moving :). I’d say one difference is we shop more often here. We plan to do a video about grocery stores. We’re hoping we can do it after a trip to the us so we can include footage and prices/etc from a store there.
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)
@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.
Haha I like how you've learned some things rile people up. I won't come with a deeper perspective since it was not a part of the video.
But I also love that you almost died trying vodka and Turkish peber
So to summarise the Danish and American tax are equal, but in Denmark you also get healthcare, and college.
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!
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.
You forgot to mention the fradrag, It makes a difference on the take home pay. It could be bigger if you have a loan.
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
I'm a little surprised, I thought taxes were lower in US, although cost of living is probably cheaper aswell, I very much enjoy the safety net we've got in Denmark. Keep the videos coming :D
I REALLY hope this video will go viral, it's such an eyeopener to every Dane!! 👍👍
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?
@@Michael-Archonaeus Du er da velkommen til at uddybe gennemgangen af det amerikanske skattesystem, jo mere oplysning jo bedre...
@@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...
@@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
@@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.
Good video. Try a pension comparisons. It’s hard to make separate from taxes...
in usa, pensions often gets stolen, in Denmark and other countries, coorporate america found enough to help them erode our pensions with faulty math setups. Our pension age, used to bee 65, or 62, now, its an illusion for workers.
@@painterQjensen Same thing in Denmark. Being born in the mid-70's, my official retirement age is currently set to be 70 or 71, because average life expectancy has gone up.
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
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.
And those are really expensive in DK
Agreed, there are additional taxes baked into the price of that. 25% VAT comes to immediately to mind :)
What a cool topic. Awesome that you took it up. Also, that did not go the way I expected it to, would have thought the base difference was bigger. On the topic of 18th birthdays and stuff you get for your taxes, if you didn't know, dentist visits are free in Denmark until you turn 18, so make sure to get your fill before then ;) (not a comment on your teeth, just a heads up, so you don't like me discover a cavity 2 weeks after your birthday, and have to pay out of pocket)
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.
I'm Danish myself, living in Lyngby, and I think the explanation up to 10:16 was fairly misleading regarding the Danish system.
Firstly, the Danish state health insurance will not cover a whole slew of different things. Dental care is not included at all, for instance. There are also many kinds of treatments you might need that aren't covered but which aren't considered core medical - for example if you get horrible back pains due to working long hours in an office chair, then you might need massage or retraining. The Danish healthcare system will not help you there.
Secondly, the Danish system makes some very unfair competition, which results in some pretty grotesque situations. There are private hospitals around my area, and I go to them because of what I'm about to tell you, but suffice to say they are only for fairly rich people because ordinary people can't afford them.
For favourite go-to is my own case: I have epilepsy, and one day I fell and knocked a tooth out. So I get to the hospital, and they call me a "drunken idiot" despite the fact that I am walking around in a suit with a briefcase at my side on the way to a government agency. Yeah, I know, right? Then they laugh at me as I'm lying there half paralysed and groggy and throw my tooth away and then fail to note it down. I sue the hospital by going to the state courts, but the hospital is owned by the state. After getting my teeth fixed for a total of 35,000DKK including temporary implants and whatnot, I finally win my case after _THREE YEARS_. After that they wait another 18 months before they finally pay out 2,000DKK after fees and deductables. I was fuming, but what am I supposed to do? Go to the state to complain?!
Why did this happen? Because I believed, as you do, that the Danish healthcare system is good and will cover me. It is not, and it will not.
Garbage like that wouldn't fly in America. Not in a million years. And so now I'm paying health insurance again, and I can't get rid of paying for the public one - so now I'm paying two health insurances. And then there's Danmark, a 3rd health insurance that covers medicine bills and things like that. Oh, and my work gave me a 4th one, but it's worthless. So I have 4 health insurances. How awesome is that?
Thirdly, the same applies to schools. Most public schools in Denmark are terrible, and a lot of people will put their kids in private schools if they can afford it.
Fourthly, not including VAT is a pretty big deal, because the Danish VAT is very high.
Fifthly, A-skat changes depending on where you live. Just like there are state tax and federal tax, in Denmark there are kommuneskat and statsskat.
Don't get me wrong: Denmark is a good place to live because of our security and our peace and quiet - but our economic structure has become absurd, and it's really all about the monetary government policy. While Denmark is in general liberal, we have this welfare state that consists of state-owned corporations and sanctions against companies who compete with them, creating a sort of fascism-lite. And I don't use fascism in the usual sense where people don't know what it means and use it as a catch-all for bad things. I mean state-owned corporatism and private expropriations.
It's really not that great, and I'm not sure that it's better than the American system. Maybe it is - but just slapping on all the extra costs to the American version that Danes "just don't have to deal with" - we do. We absolutely do.
Well... With a pre-existing conditions(epilepsy and chronic backpain), how do you think you would do in the U.S? Sorry about how they treated you! That is really shitty!
@@sveinbjrnjonsson604 Interesting question. The way I see the US is that it's got a very different but just as large problem: Racketeering.
I think it's pretty obvious to just about anybody that a hospital bed and most treatments simply do not cost what they charge for them without a health insurance. Not even close.
Something seriously ought to be done about this. It's not okay that something that really costs $300 to do suddenly costs the customer $10,000 because you didn't get insurance. They should not be able to charge a different price whether it's directly to a customer or to a health insurance.
Once you do have health insurance the USA's health system is generally better than Denmark's. There's more experience, expertise, and the treatment is generally better.
Pre-existing conditions mean nothing. See HHS's website: www.hhs.gov/healthcare/about-the-aca/pre-existing-conditions/index.html
Love the videos keep em coming :)
Thanks, will do!
I appreciate the comparison, well done as such. The problem with such comparisons in general are take home in your pocket is not the same as available to you if you get sick, have to pay for education, healthcare etc. We compared living in Sweden with Switzerland and found that with 3 kids in teens, school costs would far exceed the app 45% tax we would end up paying in Sweden and house prices / living costs were out of reach. Once the kids have left home the equation would be other way round.
College.
Not only do we not pay for college... we actually get paid to study at college.
(about 1.000 USD pr month)
@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.
@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.
@@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.
@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.
@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.
These videos you make are really great!
It is interesting Denmark has higher economic freedom than USA
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.
@@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.
@@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.
@ according to the Danish Wikipedia, in 2019 an estimated 9% of all tax payers had to pay topskat.
Yes, this is indeed a very basic look
For a less salmiakky liquorice shot, perhaps you should try the green Ga-Jol shots. :) It is liquorice with pomegranate (granatæble) flavored. There are versions based on all the different flavors of Ga-Jol, but the green one is a pretty popular combination. (Also known as "Små Grønne" from another brand with half the alcohol.)
My good friend Tom from Myspace recommended this channel.
Well done!
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.....
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.
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😂
Pretty bad idea to discuss taxes without discussing the benefits. Which is why I was surprised when you DID discuss the benefits of tax distribution. So why the disclaimer at the start? To avoid mindless dislikes from tax-haters? Well, you almost got a mindless dislike from this tax-supporter XD
Glad I decided to watch the rest of the video.
As a Dane, I am happy to see how thoroughly you laid everything out. One additional thing is, that where you place your daughter's college tuition savings on you as parents, many of my American friends have had to pay their entire tuition themselves, potentially landing them in debt until their 50's.
When I saw the bottle I thought .. Oh no oh no 😳 don't do it .. really felt with you 🤮 You are very brave 👍
I am probably a bit old fashioned, but I was brought up being taught that in Denmark, you borrow money to buy a home (an asset basically) and to buy a vehicle if you absolutely have to (best thing is not to do that if possible) but you never borrow money to buy things of convenience or consumer products.
When you borrow money to buy a house or apartment, you seriously need to consider as short term a mortgage as possible (10 years instead of 30 years if possible) for the simple reason that you start to build value in your asset much faster with a shorter term mortgage.
One of the biggest differences between the Danish and American tax systems is probably that the Danish system provides a greater level of peace in your life and especially if you suffer from a chronic condition that requires frequent interaction with the healthcare system.
But that 10 years vs 30 years afdrag will only benefit people who can afford it like rich people, right 🤔
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. :)
Having been "fortunate" to pay taxes in both the US and Denmark, I do agree they're closer than you would think, which you wouldn't really notice without going through the details like you did. Now, once your taxes are out of the way, the next comparison should be how far you get with what you have left. I do think we're better off here in the US vs. DK, but the proof is in the pudding.
Curious what would be included as thing you would pay for after taxes, but yeah a fair amount of things in Denmark is pricey.
@@mettelindegardnielsen9411 However, salaries are also higher I think, generally speaking.
@@mettelindegardnielsen9411 Literally everything lol. You pay 25% extra tax (moms) on every single purchase you make. That is ludicrous. On top of that you pay extreme taxes on gas, electricity, vehicles and extra taxes on things like sweets, drinks, alcohol, nuts, and so on.
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 :)
Ja, hvis man regner alle afgifter med, så er billedet jo et helt andet. Nominelt er skattetrykket jo væsentligt højere i DK
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.