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« Managing Your Biggest Asset: Your Career | Main | 529s Are the Undisputed Kings of College Savings »

July 31, 2007

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Something to consider is your tax rate. For example, in Denmark taxes are up to 59% + 10% for Social security + a 25% value added tax (VAT) on all purchases and services. So at this tax rate you are taking home 23.25%. Giving 10% off the gross would only leave you with 13.25%.

Ryan,

You make a good point. Some of us American's are probably spoiled with our low tax rates so it's easy for us to tell others to give 10%. Considering state, local, federal, property, home, sales, gasoline taxes, Social security, medicaire, I guess our taxes are probably high too, but not that high! And not to mention we actually have to pay for health care insurance here.

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