« first day (3116 days earlier)      last day (33 days later) » 

Kaz
8:10 AM
@Lilienthal Once you take out my student loans and mandatory pension contributions, my marginal rate is 55% these days.
 
8:28 AM
@Kaz Marginal rate has been 50% for me for a while. But "real" tax rate is almost impossible to calculate here. So many hidden taxes have been moved to utility bills, municipal taxes, hidden fees on "net" benefitis, ... It's a little absurd but it's very much in keeping with the local culture... ;)
As in many places cheating the government is taken to an art form here. But as a simple employee the most I can do is write off my transport. ;)
 
Kaz
8:57 AM
@Lilienthal Pretty much. I know a lot of the stuff in my own corner of Finance, and I know a guy who works in insurance who knows much of theirs.
Great example: Flood insurance. A lot of homes are simply uninsurable because they flood so often. The government mandates that insurance companies have to cover them anyway, and subsidises them to make it viable.
But the government doesn't pay for that subsidy, instead they just put a levy on every home insurance policy in the country.
So if you own home insurance, congratulations, there's a hidden tax in there to subsidise people who bought homes on a flood plain.
 
9:30 AM
@Kaz similar to the situation with car insurance - where all the insurers are required to pay into a pot for covering victims of uninsured drivers, the more uninsured drivers there are the more insurance goes up for everyone else
 
Kaz
10:07 AM
@motosubatsu Yep. Same with our regulator. We pay an (ever-increasing) levy every year to cover the costs of winding up companies who go under without enough assets left to pay for the cleanup.
 
 
5 hours later…
2:51 PM
@Kaz To be fair it's kind of how insurance works. Flood areas are tricky sure: you know going in that it's a risk so there's something to be said for not passing off those costs. But it's a short trip from that to not insuring pre-existing conditions and the like. Problem is fading boundaries between insurance and a social safety net.
 

« first day (3116 days earlier)      last day (33 days later) »