How are your investments doing?

[mark in portugal]

I've noticed a lot of states with relatively low property taxes have sales taxes that approach or even surpass 10%. That's a LOT of money!!
</rant>

Here in the EU, sales tax ("value added tax" or similar wording) is over 20%. In portugal, 23% on almost everything.

And we still pay property tax (not very high though), AND a massive income tax. Those who work (I do not) also pay social security / health care tax. Despite all this, and poor public services, the country runs a reliable, solid deficit.

As I am a US citizen, I have to file a US tax return each year too. So I can tell you, the US tax is a lot lower. For me anyway.

 

[ultrarunner]

Here in the EU, sales tax ("value added tax" or similar wording) is over 20%. In portugal, 23% on almost everything.

And we still pay property tax (not very high though), AND a massive income tax. Those who work (I do not) also pay social security / health care tax. Despite all this, and poor public services, the country runs a reliable, solid deficit.

As I am a US citizen, I have to file a US tax return each year too. So I can tell you, the US tax is a lot lower. For me anyway.

The big difference I’ve found is property tax is significantly lower and not unusual to find property in the same family for hundreds of years in Europe.

A 3 bedroom 35-50 year old house in my Oakland California neighborhood with a property tax approaching 20k is not unusual.

Utilities and cell phones add 7.5% and sales tax over 10% and State and Federal Income Tax in the 40+ percent is not unusual…

Just had visitors from Austria … he is an Engineer and she a MD and they were floored with property tax we pay…

I did say California has just about every tax and some other States are significantly less.