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Monday, August 8, 2011

People Are Happier in Heavily Taxed Countries

Following up on my prior post (OECD: High Taxes Make People HappyHigh Taxes Lead to Happiness: Huffington Post, How Often Are Heavily-Taxed Countries Considered Thriving?:

With a marginal income tax rate of over 40%, the U.S. comes in as the fifteenth most heavily-taxed nation in the world, according to an infographic by TurboTax. ... One of the two countries where the gap between the rich and the poor widened most in the past decade, Sweden, is ranked as the most highly-taxed country, with a income tax rate of 56.5%.

Of the 15 nations with the highest tax rates, 8 also are listed among the 15 most thriving countries, according to Galluup. Germany, Italy, France, Portugal, Japan and Austria all failed to make the cut, and it was only Austria that had a thriving majority.

TurboTax 1
TurboTax U.S. TurboTax Sweeden

(Hat Tip: Francine Lipman.)

http://taxprof.typepad.com/taxprof_blog/2011/08/people-thrive-more.html

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Comments

I think Norway was rated one of the happiest places to live until two weeks ago.

Posted by: mike livingston | Aug 8, 2011 5:51:18 AM

I've always wondered if we actually drilled, provided competition which would bring lower oil prices if Norway would have been as "happy."

Wiki sez: Norway's trade is dominated by the EU and Norway is the EU's 4th most important import partner. Norway to EU trade amounted to €91.85 billion in 2008, primarily energy supplies (only 14.1% is manufactured products). The EU's exports to Norway amounted to €43.58 billion, primarily manufactured products.[1]

Posted by: Sandy P. | Aug 8, 2011 1:47:06 PM

Sure, if giving up your freedoms and opportunities in exchange for being cared for by a nanny state which takes away personal responsibility makes you happy. Those who weren't happy with that situation moved to the U.S. to start better lives.

Posted by: Woody | Aug 8, 2011 2:02:34 PM