What Is It Like to Pay 50% of Your Income in Taxes
The average Dane pays almost half of their income in taxes – the third largest in the world. This seems incredible to most Americans, who pay an average of 25.6% of their income in taxes. Even more incredible, the Danes don’t seem to mind – at least that’s what you hear in the media. After all, their college tuition is fully paid. Health care too. There is a reason Denmark is ranked 2nd in the World Happiness Report (while the USA is 19th).
But we are the media too, so I went to speak to some small business owners in Copenhagen to find out the truth. What do they really think about the high tax rate? Do the benefits outweigh the costs?