Thursday, February 28, 2019

Short Note on Taxes

Once in a while, I'll essay over taxation in Germany....to demonstrate the level and amount affecting working-class Germans.

So, for the year 2019.....if you make less than 9,169 Euro (single) or 18,338 Euro (married, jointly filing)....you pay zero income taxes. 

After that amount, your tax rate increases in a gradual sense.  For 14,255 Euro a year (single) your rate will be 14-percent to 24-percent as a 'tax-burden'.  Married and jointly?  28,150 Euro.

At around 55,000 Euro, your marginal tax rate goes up to 24-percent (escalating to 42-percent as your salaries increases).

Most Germans have the attitude built into them over the levels, and if they've reached the point of making x-thousand Euro a year.....they will kindly ask or plead to the boss not to increase them to the next level, thus getting them into the 20-to-30-percent tax bracket. 

Tax credits?  There are various credits that you can apply to your income, although these are not quiet as drawn out as Americans are used to. 

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