Shocking Revelation: Americans work more than Europeans!
Duh!
I think what surprised me is that they actually cited one of the primary reasons (tax rates) in the article. From a normally liberal rag, I was shocked that the editors actually allowed this to be published!
"Taxes are an issue. Despite what Donald Trump has said, taxes in the U.S. are substantially lower than in Europe. Studies have suggested that this higher tax burden reduces the incentive to earn more by putting in extra hours."
Uh, NO, Bloomberg. Personal income taxes may be lower here (because of the VAT taxes and higher overall rates to support socialized medicine, etc.) but corporate tax rates are actually much higher than in Europe. But at least they got the incentive part right...
I think what surprised me is that they actually cited one of the primary reasons (tax rates) in the article. From a normally liberal rag, I was shocked that the editors actually allowed this to be published!
"Taxes are an issue. Despite what Donald Trump has said, taxes in the U.S. are substantially lower than in Europe. Studies have suggested that this higher tax burden reduces the incentive to earn more by putting in extra hours."
Uh, NO, Bloomberg. Personal income taxes may be lower here (because of the VAT taxes and higher overall rates to support socialized medicine, etc.) but corporate tax rates are actually much higher than in Europe. But at least they got the incentive part right...
