Let's assume a high-net-worth individual with $1M of annual pre-tax cash flow split evenly among qualified dividends, long-term gains, and business income, and a $3M primary home. Let's also assume that this man lives in Texas, or he lives in Germany.
In Texas he'd owe about $304k in US federal income taxes (23.8% on dividends and gains; ~37% top rate on business income) plus roughly $54k of property tax at ~1.8%, for a total near $358k.
In Germany he'd pay ~26.375% on dividends and gains ($131.9k), a roughly 45% + 5.5% solidarity surcharge on the $500k business income (~$237.4k), and low property tax (~0.3% ≈ $9k), totaling ~$378k.
The difference comes out to just $20k. That said, all services are cheaper in Europe -- medical, telecoms, legal, etc. -- so life in Europe tends to be far less expensive in general.
And you'll note that I was extremely generous and picked a state without income tax. Many US states, perhaps most, are worse than Germany.
I also picked a middle-of-the-road European state. There are some that don't seem that interested in collecting taxes, e.g. certain Swiss cantons, some Baltic states, and Monaco. (No personal income tax on salaries, dividends, interest, or capital gains + no wealth tax!)
Dude, seriously. Think about these things before you post. The tax situation in the USA is way worse than you think it is, and it's way better in Europe than you imagine.
Let's assume a high-net-worth individual with $1M of annual pre-tax cash flow split evenly among qualified dividends, long-term gains, and business income, and a $3M primary home. Let's also assume that this man lives in Texas, or he lives in Germany.
In Texas he'd owe about $304k in US federal income taxes (23.8% on dividends and gains; ~37% top rate on business income) plus roughly $54k of property tax at ~1.8%, for a total near $358k.
In Germany he'd pay ~26.375% on dividends and gains ($131.9k), a roughly 45% + 5.5% solidarity surcharge on the $500k business income (~$237.4k), and low property tax (~0.3% ≈ $9k), totaling ~$378k.
The difference comes out to just $20k. That said, all services are cheaper in Europe -- medical, telecoms, legal, etc. -- so life in Europe tends to be far less expensive in general.
And you'll note that I was extremely generous and picked a state without income tax. Many US states, perhaps most, are worse than Germany.
I also picked a middle-of-the-road European state. There are some that don't seem that interested in collecting taxes, e.g. certain Swiss cantons, some Baltic states, and Monaco. (No personal income tax on salaries, dividends, interest, or capital gains + no wealth tax!)
Dude, seriously. Think about these things before you post. The tax situation in the USA is way worse than you think it is, and it's way better in Europe than you imagine.