I honestly don't understand where most tax dollars go in the U.S. I'm in Korea at the moment and the tax burden is overall very light when compared to the States, but the level of service you receive is absolutely tremendous for the most part.
Example, if you make over around $85,000 USD, you fall into the maximum tax bracket, which is 35%. Most people pay around 25%. As a foreigner, I can also pay an alternative 17.5% instead.
There's also a 10% surtax at all income levels. So I can really get by with about 18.5% income tax (and there's all kinds of easy deductions).
> Example, if you make over around $85,000 USD, you fall into the maximum tax bracket, which is 35%.
In the US, the maximum income bracket has a 39.6% marginal rate and is reached at $400,001 in AGI for a single filer; the (weirdly narrow) 35% bracket starts at $398,351.
So if Korea has a 35% top bracket, witha 10% surtax, that starts around $85,000 USD, I'm not seeing how that's "overall very light when compared to the States".
Example, if you make over around $85,000 USD, you fall into the maximum tax bracket, which is 35%. Most people pay around 25%. As a foreigner, I can also pay an alternative 17.5% instead.
There's also a 10% surtax at all income levels. So I can really get by with about 18.5% income tax (and there's all kinds of easy deductions).