Close Close

Life Health > Life Insurance

How America’s Top Tax Rate Stacks Up Against Other Countries’ (InvestmentNews)

Your article was successfully shared with the contacts you provided.

When it comes to tax rates, the U.S. peaks at 35% at the federal level, with an added 6-12% tacked on for state taxes. This may sound high compared to, say, Hong Kong’s top tax rate of 15%, but it’s far from the global leader. Not surprisingly, the clear losers are Europeans. France’s top tax rate is 40%; worse, it kicks in at a mere EUR 70,000 in income. At 45%, Germany’s top rate is even higher, but only impacts those who gross more than EUR 250,000 (EUR 500,000 for couples). And, in the UK, the tax rate tips the scale at 50% for salaries over GBP 150,000.