Income Tax in Denmark vs USA: What's Left in Your Pocket? 🇩🇰🇺🇸

CALCULATE YOUR LIFE IN DENMARK: 💸 Understand Your Danish Taxes with this free tool: https://thedanishdream.com/danish-tax... 💰How much can you earn in Denmark? Take the test here: https://thedanishdream.com/danish-sal... 📊 Make a Realistic Budget for Denmark Here: https://thedanishdream.com/realistic-... 🚗 Buying or Leasing in Denmark? - Calculate the Total Cost of Ownership and save money: https://thedanishdream.com/total-cost... OTHER LINKS: 🔹NEWS SITE: https://thedanishdream.com/ ☕DONATE COFFEE: https://buymeacoffee.com/stevenhojlund 🔔 SUBSCRIBE HERE: https://www.youtube.com/@TheDanishDre... 📩 NEWSLETTER: https://thedanishdream.com/ How much income tax would you pay if you lived in Denmark compared to the USA? 🤔 In today's video, I break down exactly how much of your salary you'd have left after taxes in each country if you earn $10,000! 💰 If you wonder how much the salary is in Denmark, check out this video:    • Moving to Denmark? Here's What You'll Actu...   In this video I'll cover: 🧾 Deductions: Learn how deductions work in both countries, including pension contributions and other tax benefits. Deductions are super important to know, so that you don't cheat yourself and pay too much tax. 📊 Tax Rates: See the difference between Denmark's progressive tax system and the American tax rates, including federal, state, and social contributions like FICA. I cover the basic parts of what you are paying for in the Danish tax system and how it is constructed. 💡 What Do You Get for Your Taxes? We also dive into what taxes cover in Denmark versus the USA, from healthcare to education and unemployment insurance. Whether you're considering moving to Denmark or just want to know how the two systems compare, this video will give you a clear, step-by-step breakdown. 🎯 Don't forget to subscribe for more videos on living or traveling in Denmark! Long description ### In this video, we compare income taxes on a $10,000 monthly salary in Denmark and the USA, giving you a clear picture of how much disposable income remains after taxes in each country. The video covers Denmark’s progressive tax system, including deductions for pension contributions, the labour market contribution (AM-bidrag), and a variety of other tax benefits. For the USA, we break down federal and state taxes and show how pension contributions, such as 401k, and other deductions impact take-home pay. Using real figures, we calculate the disposable income left for a taxpayer in each country, showing that while the USA offers lower taxes, Denmark provides a range of public services funded by higher tax rates. These include free healthcare, education, and comprehensive welfare support, which offset the differences in take-home pay. By the end, you’ll see how taxes impact each person’s monthly disposable income and understand the trade-offs in choosing between higher taxes with greater public services in Denmark versus lower taxes with more out-of-pocket expenses in the USA. Credits: Artist: Aleksandar Kiprov Track: Street Cafe ###### Timestamps: 0:00 Introduction 1:21 Progressive tax in Denmark 1:37 Example of a tax payer's income in DENMARK 2:25 Deduct Pension before tax 3:04 Pay Labour market contribution - 8% ('AM-bidrag') 3:25 Argument for A-Kasse (unemployment insurance) 3:46 Other deductibles - Some common examples 5:00 A-SKAT / A-Tax (main income tax) - typically around 40% 6:15 Total Take Home after Tax in DENMARK 6:20 Total Tax Paid in DENMARK 6:40 EXAMPLE from USA 7:55 USA & Denmark COMPARED 8:30 Welfare benefits included and excluded in USA 9:40 Conclusion - Who has most left in her pockets after tax? 11:30 Outtro