Are you based out of US, India or Canada and blame government for very high tax rates where the highest income tax rates are somewhere 30-33%. Checkout the income tax rates of the following countries and you will not feel that bad.
Austria: Average income in Austria, one of the world's best place to live, is about USD 50,700 while the highest income tax rate is 50%.
Belgium: Belgians in 2011, with average income of USD 52,700 pay, took home less than 45% of what they cost their employer, according to a survey by OECD. Here also the highest income tax rate is 50 percent.
Japan: It's the only asian country to have top tax rate of 50% which is more than double Asia's average rate of 23%
United Kingdom: UK increased its highest tax rate by 10 percentage points in 2010 to 50%.
The way things are happening in here, India will also feature in the above list in few years.....ReplyDelete