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rckt ◴[] No.44442199[source]
Considering how everything is rigged in favor for the rich I don't have high hopes for this. But it would be great if they really come up with a system that makes sense and offers equal tax regimes for everybody. Right now if I'm not mistaken in Spain the most taxed people (in terms of ratio) are those who earn < ~300K per year.
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diggan ◴[] No.44442248[source]
> Right now if I'm not mistaken in Spain the most taxed people (in terms of ratio) are those who earn < ~300K per year.

You are mistaken. Currently, the higher income you have here, the higher tax rate you have, where the highest tax rate on income sits at 47%, which you get hit by when your income is above 300K/year. People between 60K and 300K sits at 45%.

And then there are regional differences, someone in Andalucía don't pay the same amount of taxes as someone who lives in Catalunya for example, where the top tax rate is 50%.

Even taking into account other taxes we have, you still end up paying more in taxes the more you earn, unless you start engaging in schemes to lessen your tax burden, obviously. Although the social security is capped, so it does increase slower once you go beyond the cap, but it doesn't start regressing which your comment hinted at.

Edit: important to note that the tax rates are all marginal tax rates, maybe that was a bit unclear.

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foota ◴[] No.44442263[source]
Wow, a 45% tax starting at 60k is kinda unreal.
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HamsterDan ◴[] No.44442801[source]
It's a monstrous disincentive to increased productivity. If you're a smart, ambitious person who wants to work hard and advance your lot in life, are you really going to stay in Spain knowing that the government is going to take half of everything incremental thing you do?

This is basically inviting your best and brightest to move to the US and other low tax countries.

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1. diggan ◴[] No.44444537[source]
> If you're a smart, ambitious person who wants to work hard and advance your lot in life, are you really going to stay in Spain knowing that the government is going to take half of everything incremental thing you do?

I'm smart (anecdotal, but still) and ambitious, and I moved to Spain, and I'm planning to stay here, yeah. Yes, I'm OK with the government taking the excess profits us "rich" people earn so others who cannot work still can survive and even get health-care, like the rest of us.

> This is basically inviting your best and brightest to move to the US and other low tax countries.

If that leads to all the soulless money-chasers move to the US, then that sounds like a positive to me. I prefer a society where everyone gets equal chance and a good life, regardless of income, and the ones who want to ruin that can continue to build their utopia in the US.