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Joined 10 months ago
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Cake day: November 25th, 2023

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  • Two points a lot of people are missing here:

    • it’s hard to build wealth in a country like Denmark. It’s easy to keep wealth in a country like Denmark.

    • younger generations have zero guarantee that the money they pay now for insurance and retirement will actually benefit them once they need it.

    Let me explain.

    The inheritance tax is significantly lower than the income tax. Gifting tax between family members is 0%. Denmark as other European countries is a tax haven for people with rich parents. If op doesn’t have rich parents to inherent real estate from or get pre inheritance gifts he can only build the wealth himself but is taxed at a significantly higher rate. The tax system clearly favors those who are already wealthy and makes it virtually impossible to become wealthy.

    Moving on the benefits. Yes benefits are great in countries like Denmark or neighboring EU countries, but as a young healthy, childless person op is only subsidizing these services for mainly old people at a fairly high premium. Denmark has an aging population and therefore a smaller group of young people has to subsidize the costs for retirement and health care for an increasingly old population. This might eventually not check out and there’s no guarantee that young generations will be able to expect that level of service once they’re ready to retire.