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Work from January to August for the State? – Purchasing Power in Decline

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Denunciation of the tax and social burden continues within the European Union as purchasing power rapidly declines.
The economic institute Molinari published the 4th edition of its study on the tax and social burdens endured by the average employee in the European Union. The aim of this work is to compare the social and tax burden on salaried employees in the 27 Member States of the EU and, in doing so, determine a “tax freedom day” for individuals who are working in those countries.  Not surprisingly, the results are alarming. We anxiously await a study of the same type for entrepreneurs and investors.

Compulsory tax levies exceed the real purchasing power in 6 countries:

As in 2012, France remains the champion of taxation, followed by Austria, Hungary, Germany and Italy. In these 6 countries, more than half of work related income is deducted to cover taxes. Thus, for a French employee, only the money he earns from August 8th will actually be perceived. On average, in 2013 in the EU, an employee who generates 100 euros in income before taxes and expenses will be subject to 45.06 euros of compulsory levies. This average tax rate in the EU continues to grow each year. Only Bulgaria, Ireland, Lithuania, Luxembourg and Slovakia do not participate in this increase.

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