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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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1. WinstonSmith84 ◴[] No.44452305[source]
"kinda unreal" and still real - that's what's wrong with European countries in general. It's a lifestyle Europeans have chosen where you don't need to work a lot, everything is paid for you but don't expect to get rich either. This is a mentality deeply ingrained in people where there is little incentive to work. If you've ever been to Spain, you will have certainly noticed these graffitis "tourists go home" a bit everywhere, whether in Valencia, Sevilla, Barcelona or other touristic cities. That's really interesting to see, you've a lot of people there who just don't get it that a lot of the economy is based on tourism.

Anyway, ambitious entrepreneurs don't start business in Spain, they emigrate to countries with low tax rate where the chances are much higher that they won't go bankrupt after a year, and it's a vicious circle. Of course, the reaction now is that there are populists in Spain and elsewhere trying to dictate to other countries what their "wealthy" people shall pay in taxes :-)

Despite all the flaws of the US, let alone the ones of the current administration, keeping the economy competitive is the one thing that all US administrations have understood correctly, whether Dems or Reps or MAGA

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2. diggan ◴[] No.44453262[source]
> It's a lifestyle Europeans have chosen where you don't need to work a lot, everything is paid for you but don't expect to get rich either.

That some chose, true. Europeans have a choice if to "work and still have a life" or "work a bit more, have a bit less free-time", but just like in many other places, if you put in the time and effort, you can get "rich" too, if that's so important for you.

> If you've ever been to Spain, you will have certainly noticed these graffitis "tourists go home" a bit everywhere

That is true, you go to the hotspots of tourism in Spain, you'll notice that people are being fed up with it. If you visit the rest of 80% of Spain, you'll notice they aren't overloaded by tourists, and the sentiment is different.

Next time, try visit less popular places, it'll be more unique and fun too :)

> ambitious entrepreneurs don't start business in Spain

We absolutely do, the work/life balance is unmatched, and living in a state that actually cares about its people makes it better for everyone, not just "The Poor". There are no "vicious circles" of going bankrupt because of taxes, if you have friends where that commonly happens with their companies in Spain, they're doing something seriously wrong.

> keeping the economy competitive is the one thing that all US administrations have understood correctly, whether Dems or Reps or MAGA

I don't know if you're American, keeping up with American politics or what's going on, but "economy competitiveness" is clearly off the table with the current administration, I think if anything is clear that's the thing. They're just starting to see the effects of their choices, but maybe it'll also be clear to you in a bit.