It's finally here for those who pay taxes in Belgium - Tax Liberation Day.
August 6 - that special day when the Average Joe (Gemiddelde Joost, if you will) tax payer has theoretically earned enough to pay their tax burden for the year.
Yes, from January 1 until today, every last eurocent earned has gone to the government. Earned income for the remaining 20 weeks of the year is ours to spend as we wish - on things like rent, food and utilities - taxed at 21%, by the way.
When will this occur in the U.S.? It already has . . . way back on April 21 - nearly 4 months ago!
What about Canada? That was back on June 9.
And the UK? Even earlier . . . June 2.
But what about those really expensive places to live like Australia, Switzerland, Norway?
Those were on April 10, May 2, and July 29 respectively. Okay, Norway is just a week behind Belgium, but that still makes Belgium the most heavily taxed country in Europe.
But as this BBC article points out . . .
"In a lot of the European countries tax rates and social security contributions are high but the provision of benefits by the state tends to be very generous compared to countries in other parts of the world," "If you fall ill or become unemployed the state will contribute and there are also generous pension arrangements."
There you have it. Free lunch. No such thing.
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