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This is the result of higher taxes... the repost.

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December 06, 2007 – Comments (0)

This is the result of higher taxes...

Wingedcreat0r posted this earlier today, and has since contributed a new blog post. I found it important enough to want to leave it up a little longer...

Devoish

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December 06, 2007 – Comments (3)

Young Danes, often schooled abroad and inevitably fluent in English, are primed to quit Denmark for greener pastures. One reason is the income tax rate, which can reach 63 percent.

"The high tax rate is the No. 1 problem we have," Christensen said. "It's that simple."

Christensen said about 150 positions at Saxo Bank had been created outside Denmark because filling them at the home office would have been either prohibitively expensive or simply impossible. Finding people at its offices in Britain, Switzerland and Singapore, where tax rates range from 19 to 40 percent, proved easier. But it forced the bank to break up teams of people that it wanted to be concentrated in Copenhagen.

The Confederation of Danish Industries estimated in August that the Danish labor force had shrunk by about 19,000 people through the end of 2005, because Danes and others had moved elsewhere. Other studies suggest that about 1,000 people leave the country each year, a figure that masks an outflow of qualified Danes and an inflow of less skilled foreign workers who help, at least partially, to offset the losses.

High income taxes in Denmark worsen a labor shortage

http://www.iht.com/articles/2007/12/05/business/labor.php

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First it begins by raises taxes on the wealthy because the other classes yell that they aren't paying their share. Then follows a tax raise to "level the playing field" in all but one class, the poor. Next, small businesses begin outsourcing or move all operations out of the country. Years later, this article is the result.

Their system rewards those who are able to keep their income under a certain bracket. Just imagine getting a 5% pay raise, only to have it taxed up to 63%. Why should they work towards a salary increase or bonus? I remember reading interviews with some unemployed Europeans saying that they earn more money by not working, since the state provides them a nice unemployment check.

And yet some still believe that socialism is the answer.

3 Comments – Post Your Own#1) On December 06, 2007 at 9:19 AM, TMFRik wrote:

Or we believe that living in a society means sharing the responsibility to make the world a better place for everyone. Otherwise, enjoy eating your bank statements and efficient markets.

#2) On December 06, 2007 at 9:37 AM, wingedcreat0r wrote:

TMFRik, I agree with the idea of making the world a better place for everyone through family and a community sense. I believe we can all share the responsibility through encouraging and teaching people to create their own wealth without forcefully taking it from others. One example is this community that we are part of.

I also believe that there are those that will attempt to take advantage of others and the system. However, in the end... you and only you are the source of your own well-being.

A man cannot make themselves poor enough to make another man rich.

#3) On December 06, 2007 at 9:45 AM, devoish wrote:

Also from the same article you reference: "That same tax rate underpins such effective income redistribution that Denmark is the most nearly equal society in the world, in that wealth is more evenly spread than anywhere else."

From somewhere else: We hold these truths to be self evident, that all men are created equal, that they are endowed by their creator with certain unalienable rights, that among these are Life, Liberty and the pursuit of Happiness.

A description of how Danish taxation works: http://www.theglobalist.com/DBWeb/printStoryId.aspx?StoryId=4346 

And since the above article was published in 2005 the first lines of this one (that I do not want to pay for) seem to indicate unemployment is still getting better. https://www.economy.com/home/login/ds_proLogin.asp?script_name=/dismal/pro/blog.asp&cid=76686 

So basically in the Danish system they are training people who are needed and employable all over the world, and here in the USA business is crying over a shortage of well trained professionals.

I'm sorry, you were saying you strive toward which result?

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