23 Economy Trivia Questions That Will Test Your Knowledge Of Economic Geography

The annual personal tax-free allowance in Denmark is DKK 51600 - meaning you pay no tax on the first DKK 51600 you earn in a year. That's USD 7,462.74 at current exchange rates. Tax is paid on amounts over this at an increasing rate with increasing income. I strongly suspect Americans would agree to Danish taxation rates if knew they were going to get Danish public services and Danish health care as a result. Danes certainly wouldn't put up with low taxation if it meant Danes going bankrupt trying to afford basic medical care - as happens in the USA.

Tax rates are different for different incomes. People in the highest tax bracket can likely afford it. Still I think you're right, most Americans would always prefer lower taxes and less protection by the state.

That is the top tax rate, meaning that most people, by far, won't be near that level.

Highfalutin Heron

Highfalutin Heron

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As other people have pointed out these are the top tax rates. But remember they're also marginal rates. If someone's income just reaches into the top bracket, they will only pay the highest rate on whatever portion of their income exceeds the boundary for the bracket.