A well run country where trust in the government is high and EARNED. Denmark just disproves that you can't have high taxes and prosper. Nope, it's all about how corrupt a government is who spends that money.
@@bjornjonsson7037 if you collect huge taxes, and just distribute the collected money among a dictator and his friends, those high taxes will kill the economy, but if you instead use them to invest wisely in society, such as infrastructure and education, that is beneficial to the economy. GDR did the same in the US, and ended the great depression that way.
I'm not sure why it's "despite" high taxes. Better education, healthcare, and support for everyone is good for the economy. A combination of Denmark and Finland seem to point in the best direction.
It is "despite" high taxes -- other European countries have similarly high taxes to Denmark but have much poorer economic and social outcomes: e.g. France
Exactly. If you make an educated and healthy work force and make it a good place for business, guess what happens...you get more money in return from taxes and its actually more than you even spend on the investment into education and healthcare. Funny how that works.
I am a Dane and I look back at my education in the public school system from 1994 to 2004 as horrible! the schools was full of noise, the teachers could not control troublemakers nor bullies. I learned to read, write and do basic math plus a little English and very little German, things I needed to expand on later at my own initiative. Most of our books was photocopies of old text books, we would sometimes loose and carried around in an over filled binder that gave us paper cuts when we slide it in and out of our school bag for class. The teachers wasted time on stupid play stuff that was more for drilling in compliance than teaching us valuable skills. Also I hate the high taxes. We use about 33 Billions on integration and other expenses for non western migrants every year plus the political class global ambitions such as preventing the Ukrainian regime from falling to the Russian regime, not to mention paying off millions to questionable governments in the third world as aid and millions to our own state owned press to propagandize the people with the current message as well as media support to all the main stream newspapers. If I could get rid of all those expenditures I would gladly sacrifice the state funded healthcare for it! Denmark is not magical, don't become like us!
@Sohave first of all i doubt you are Danish and if you are, im happy that you represent a very small minority in Denmark. You do know we have free movement in Europe right? If you really hate the Danish system that much you can just more to place you like better instead of being so bitter. Secondly we are ranked 9 in GDP per capita in the world and ranked 11 in the world in GDP per capita PPP. On top of that was rank in the top of GNI indeks so we have very small difference on rich and poor. Which combined basically means, that there is very few people on the planet as rich as us. Maybe you need to travel more or reseach more so you get to know just how good we have it in Denmark. If you truly are Danish I wish you the best and hope you educate yourself and lose the bitterness you have. So you are able to live happily in the great country of Denmark. The bitterness I saw, I wouldn't wish on my worst enemy, so hopefully you can overcome it. Have a nice day.
*I wasn't financial free until my 40’s and I’m still in my 40’s, bought my third house already, earn on a monthly through passive income, and got 4 out of 5 goals, just hope it encourages someone's that it doesn’t matter if you don’t have any of them right now, you can start TODAY regardless your age INVEST and change your future! Investing in the financial market is a grand choice I made.*
The wisest thing that should be on everyone mind currently should be to invest in different streams of income that doesn't depend on government paycheck, especially with the current economic crisis around the world. This is still a time to invest in Stocks, Forex and Digital currencies.
People dismiss the importance of advisors until they are burned by their own emotions. I remember a couple of summers ago, following my lengthy divorce, I needed a good boost to assist my business stay alive, so I looked for qualified consultants and came across someone with the highest qualifications. He has helped me raise my reserve from $275k to $850k, despite inflation.
Investing with an expert is the best strategy for beginners and busy investors, as most failures and losses in investment usually happen when you invest without proper guidance. I'm speaking from experience.
Childcare is not free for most people but heavily subsidized. The poorest can also apply to get it for free. E.g. it's free for single parents with two or more kids unless they earn a high income.
Both liberalism (Its roots at least) and social democracy are both types of socialism. Don't get it confused by Americans who think all socialism is either 19th century philosophy or communism.
@@doodlePimp Social democracy broke away from the socialist movement in the 1850s. They share common ancestry, but social democracy is distinct from socialism.
@@simonnielsen1525 All modern socialist ideologies have broken away from their common socialist roots. There were plenty of weird variants that came from those original ideas, like market socialism (Was never implemented IIRC). The socialism that existed when Karl Marx wrote the Communist Manifesto is long dead and gone. After Stalin's reforms I do not think communism even qualifies as socialism anymore. It is instead some kind of Authoritarian Kleptocracy.
One thing often overlooked when it comes to Danish taxes is that the cost of living isn't taxed, this means if you only make enough to survive you will pay almost no taxes as your cost of living is deducted prior to taxation I technically pay 42% in taxes, but once my cost of living is deducted I only end up sending the taxman 25-28% as my income isn't that high
I live here and I have never herd of that, It was not there for my low income family when I was a kid in the 90's and early 00's We were taxed close to half of our income, same as everyone else.
@@Sohave du har bundfradrag eller personfradrag, kært barn har mange navne, hvis du er dansk statsborger jeg skal ikke kunne sige om det samme gælder hvis du kun har opholdstilladelse, selv børn har deres frikort fra de fylder 13 som i grove træk svare til det samme Hvis du tager din løn før skat og regner ud hvor stor en procentdel du har tilbage efter skat så ville det undre mig meget hvis kom frem til at din skatteprocent var præcis det der stod den skulle være Jeg har bekendte på kontanthjælp og med personfradrag på ligegodt 4000 og under 6000 udbetalt før skat så er det ikke mange procent der går til skat selvom der står 39% på lønseddelen, for at være lidt mere præcis så får skat lidt under 800 og min bekendte får omkring 5200 efter skat, de omkring 13% der går til skat må siges at være langt fra omkring 40% Det moderne fradrag var også en ting i den periode du nævner, indført i 1994 som det ser ud i dag, men lignende fradrag har eksisteret siden 1903 så hvis i har haft lav indkomst, for eksempel været på SU, så har i ikke betalt 39% forudsat at gældende regler og love er blevet overholdt Fradrag i år er på 49 tusind et eller andet så mon ikke der et eller andet sted på din lønseddel står fradrag efterfulgt af et beløb i omegnen af 4000-4500
Personal deduction (Personlig fradrag) is never mentioned and has such an impact on lower incomes, add to that residential financial aid (boligsikring) and you are looking at a potential 20% tax rate for a low income family. Taxes in Denmark differ a lot from family to family, all depending on how wealthy you are, how much you owe and your investments. On a calculated taxation scale I was actually paying more taxes in Portugal than I am in Denmark with roughly the same income.
Not to mention that medical care is free (You still have to pay for the medicine, but at a greatly reduced cost). You also get a tax deduction from inssurances because the state wants to push you towards having an insurance to secure yourself now and in the future. This is a great tactic really, because if everyone is secured by an insurance then the state will not have to take of you. This extends to pensions both privately and employer sponsered pension plans. You get a tax deduction for saving up to a pension. Should you choose to take out your pension before pension age or without a legal reason (Lets say you are deadly ill) you will have to pay a tax fee.
Education, education and education. Even though it can be a very dissapointing at times, most businesses and management positions require proper education even if you have experience. But it also builds trust in knowing that most people know what they are doing. Errors DO happen! As I watch this video and others, about how people in other countries sees Denmark. It is with a sense of pride and thankfulness of being born here. We have great neighbors! Not only friends but in many cases they are also family. Compared to the US, we are in two different worlds. For one, you would NEVER see someone like Trump being voted into the highest office here. The US is too saturated in drugs, gun violence and lack of control thereof. A massive mistrust of the government and other officials. There's lobbying, just another word for corruption, all the way to the highest court. It very well looks for an outsider like it is every man for himself in the US. It would be a LONG road to get a similar welfare state(s) and it would have to start with free education of higher learning, not only for the wealthy but for everyone.
The Danish income tax rate is comparable to France's and Spain's. The German tax rate is lower, but not that much lower. So this is really a Western European phenomenon.
Not Western European Denmark is northern mid/Eastern Europe. I would far more say it’s a European phenomenon at least when excluding most the mid and southern Eastern European countries
Are you sure about that? 38% income tax + 8% labor market contribution = 46% + 25% VAT on ALL goods. Registration tax on cars can = up to 150% of the car depending on the value of it. We have something called Top tax which is 52%.
@@Andreassoegaardhave you tried calculating your actual tax burden? You have deductibles that lower your overall taxes, I pay about 27% in total once deductibles are accounted for You are ofcourse right about everything else, but taxes aren't that high for the lower classes as your "personfradrag eller bundfradrag" gives you tax exemption for the first 40-50k you earn lowering your tax burden
@@thedanishvikingpilgrim5753 i am Danish, I have a Spanish manager. I can assure you it is, and their wage is not higher than us. Their system is actually in brackets. So if you get a 500 eur raise a month you can end up losing money because you reach a new tax bracket.
Denmark is just a well run country with good infrastructure. Everything seems to work and get better when there is found problems. I am from UK but been living in dk 13 years .the highe income taxes are justified when you see what you get in return .love it in dk
A Eugenics place, regularly directly slaughtering their own, has absolutely nothing in common with a "well run" place!! It's a pure developing country - nothing else!
My children can go to University for free,My daughter does (Jura) and son will follow on some course and will gladly pay my taxes,Almost no homeless (Britain,Ireland)A corrupt free system and you get what you pay for,From a Irishman (Tramore) here in DK.
@Sohave 88% of danes have no issue with their taxes. The rest 12% are not decided or against. So you are a small minority of danes. Poverty is 0.3% in Denmark and most of these are drug addicts that don't want help. So no, we don't have a lot of homeless or buggers. That's just flat out wrong. If the last 0.3% would accept help and get clean in one of our institutions for free, we could remove the last 0.3% of poverty. However we can't force anyone against their will.
In Ireland you study on paid grants or pay.. Denmark may not have that many homeless people.....Denmark periodically slaughter their own for money...eg.the majority of the Danes who lived and worked here in Dublin...maybe the person from Tramire can help the Danish Criminal psychopaths coming here for the personal belongings of these innocent, now murdered Danes??
I did an interesting little experiment a few years ago:I plotted total tax burden/GDP vs GDP per capita of all of the EU/EEA countries based on numbers from Eurostat, and with the exception of two easily explained clear outliers, there was a very direct almost linear correlation between the two. I won't go as far as to claim causality, because I know, that everyone, who confuses correlation with causality dies, but the experiment very clearly shows, that high taxes does not cause a bad economy. It might do if the tax money collected is spent unwisely, but there certainly isn't a direct causality of high taxes means a bad economy.
Lived and worked in the UK for 5.5 years. Returned home and could rent a two bedroom flat for the same price as I'd paid for a room in a shared house in Cambridge. Denmark being ridiculously expensive is a myth we like to perpetrate so we can lower the rate of immigration :'D
most of us does not pay 56% in taxes. Most of use are paying roughly 39% in tax You will have to earn roughly 80.000 USD before having to pay 56% and when only for the amount of earnings above those 80.000 USD so I might be that people do not mind the high percentage because most of us do not pay it. If the large majority of us had to pay it, we might look at the tax level differently.
Because we aim to give every citizen a good life, not just a small percentage of the population. A population with decent individual incomes makes the cash flow. Modern economists know this, but it hasn't reached the American schools yet. And an educated population also has its economic advantages.
52-56% is the marginal tax rate i.e. what high income earners pay of their last earned money above a certain yearly amount. The average income tax is about 42%.
I pay around 25% income taxes when you count all the tax deductions. At the end of a year you can see exactly how much you earned and how much you paid in taxes, and then just do the calculation from these two figures. I think you may be surprised.
A little error in this very nice “commercial” for DANMARK🇩🇰. Sorry, there is no free childcare in Denmark but the state chips in to keep the price low. The price for one child is about usd 450 a month and a little less per child if you have more going at the same time. Also we have no toll on roads but we have to pay driving over the Storebælt-Bridge and when we transport us around on ferries and by train. All this is kept fairly low by support from tax on cars and petrol.
We are rich BECAUSE of high taxes. WE don’t pay for going to school, University, doctor, hospital, and we have a great pension system. So we SAVE spending on these services where people in many other countries pay for this, and in many cases to profit run companies/hospitals where treatment/education is a lot more expensive. Salaries in Denmark “fits” the tax system….. A waiter or worker in i.e. McDonald’s gets appx $3360 Per month befor tax based on a 37 hour work week (with 6 weeks of paid holidays per year).
@@pallebirkholm9347 Do you even work? you pay 8% labor market contribution + 38% income tax. Not counting the 25% VAT on all goods which is not the norm in EU. Not to mention Top Tax (Topskat) which can ammount to 52% of all income above an upper limit.
@@Andreassoegaard And for that, you have to deduct a number of deductions before you start paying tax. Personal allowance, driving to work. Support for public transport. You must also deduct a number of subsidies for things that you pay full price for in e.g. USA. An example is medicine. The whole discussion gets muddy quickly if you look exclusively at tax. You also need to look at the entire calculation.
@@Andreassoegaard i thought the Labor market contribution was only 3% ._. So this means 46% goes to Tax and contribution 25% additional on products Bruh That is... 71% And like then People do not take into account You also need to pay for meds and transportation So like... You keep 10% to yourself, 90% goes into other people's pocket but at least some stores has a 25% off sooooooo if you buy the stuff that is 25% off this now means you save the VAT
@@AndersGetherSoerensen I am not saying the model is bad at all, it is proven that our system is cheaper and more efficient than having it privatized like the US. But in this context it does not change the fact that we are heavily taxed and way more than other EU countries. Registration tax on cars as an example that is very rare in the world which can amount to 150% of the car.
Economic freedom is the key.....you can have high taxes and still prosper if you have trust worthy institutions which protect individual and property rights and....a high level of economic freedom like it is the case in Denmark.
After all, it doesn’t matter what you pay in tax - it’s all about how good your life is. And nobody in the world have a middle class who has such a high living standard ❤❤❤
Generally the idea that taxes are bad for the economy and personal wealth, needs to go away. It all depends on how the taxes are used. The stuff paid for with taxes are also stuff you don't have to pay for out of pocket.
Childcare isn't free in Denmark. It's also noteworthy that hardly anyone can exist solely on the government supplied pension. To counter this, most workers pay 8-15% of their salary into pension funds. Now, if we could finally adopt the Finnish education system, it would be all bliss.
@NMalteC childcare is free if you are low income. Middle and high income get a reduction. You can live off government pension. My mom does and she has a nice 2 room apartment in the middle of copenhagen and have enough for food and also have enough to buy glasses and save up for travel and so on. It's true if you want to live a lavish retirement you need to save up some extra, but most people already do in their house. Many sell their house when they retire and easily have 500k euro or for some much more. Then some have their extra retirement funds of 2-3k euro extra per month. This is on top of their 2k euro a month from government after tax. So they are doing just fine.
@NMalteC it's true Finland has a better education system. However, Denmarks is also top tier in the world. The Scandinavian countries are always close in all ranking, and the reason for this is we almost always learn from each other. When one country tries a new approach, the other countries watch and get all the data, and if the program is a success, it is almost always adapted by the other Scandinavian countries. If it fails, we still get all the data, and then one of the other might take a different approach. This kind of sharing is one of the big factors in why the Scandinavian countries progress so fast. It should be said that Finland is often Drnmarks' main competitor in these rankings, and if Finland sees this, know we will pass you again soon 😄 But great job, Finland.
@NMalteC you write most Danes often save 8-15% of their own salary for pension. That is somewhat true. However this is a part of our salary and is negotiated by the unions and does not count into our hourly wage. So if you count this as wage, as I guess you should, you basically have to add 8-15% to the average Danes wage in most statistics. It's very rare these are included in wage statistics.
Child Care is not completely free in Denmark. Families have to make a contribution for each child they have in a preschool institution, but that contribution may by law not exceed 25% of the net cost. Otherwise a quite fair representation of Denmark. I'm a Brexit refugee, living here now for 22 years - no regrets.
Danes dont have to keep savings in case we need health care, we know it won't be a sudden big bill. Same with school. It's free to go. So we actually spend our money and work with actually good pay. Thereby keeping the economy going
But they cant stay in their house when they get old because of the extreme cost of living. Have you seen that clip where an old lady asks Mette Frederiksen on open cammera how she can survive and Mette just tells her to sell her house and live from that.
@@RoniiNNDenmark is a capalistic country, no doubt about it. We just have a lot of social policies, just like everyone else. The only difference is that ours goes a bit further than they do in the UK or the US..
@@RoniiNN You have no idea, what socialism is. You need better education, in your country. But that would be socialism, right. It's better to be an ignorant buffoon...
@@janfswedane yes, we had a little bit, but nothing compared to Norway. 1 year our revenue was 1.5 bil euro, compare that ro Norway 160 bil euro. 160 bil euro is about the same as the entire stat budget for a year.
One of the reasons Denmark seems a bit "hostile" against immigrants is the problems many of them cause. They don't want to integrate, and do not respect the culture. Just look at the crime statistics. But they are certainly very interested in the danish welfare system and anything else they can get their hands on for free. When danes have build a society that works well, it's no wonder they don't want others to come and destroy it. In general danes don't mind people coming to the country, as long as they will integrate and contribute to the system. Being such a small country the amount of people trying to get to Denmark can be very overwhelming.
Think about it,in USA your money can be gone if you get sick or need an operation,some folks have to sell it all to get treated in the hospital,I never used five cents on healtcare,its all "Free" because we pay taxes.....
According to the most recent figures from the OECD, Denmark has the 7th highest tax burden in the OECD = 42%. In addition, Denmark taxes most forms of transfer income and this makes the Danish tax burden artificially high compared to countries that do not tax transfer income
@@tancreddehauteville764 Actual tax is a very hard thing to measure. In Denmark we have a tax code which is somewhat transparent compared to other countries. That makes it look like we pay a large amount of taxes. But if you look into it its not much different than places like the US etc. and we also dont have hidden taxes like paying for education or health insurance.
I visited Denmark years ago (before the mass immigration) and the harmony and the equality of wealth were striking. I became convinced that it is a model society. Since then I have always said we should understand the reasons for Denmark's obvious success and learn from it. I can't see US or UK politicians ever accepting that there are far better ways to do things. Scandinavia quite simply makes the rest of us look inferior.
Most of the nordic countries have small populations and despite migration being a more recent phenomenon, the populations are still for the majority, homogenous, culturally speaking. So such models can work in such circumstances as such populations are likely to have more trust in one another. And trust is the absolute key if such models are to be successful. Larger countries with more cultural diversity, larger populations, longer history of institutional mistrust etc. like the UK, France, Germany etc, I'm not so sure you can replicate such models and expect to make it a success.
What this video really lacks is the emphasis on labor productivity. It is our high productivity levels that enables us to have high income and despite high tax levels also have a high private consumption. It could have been worth mentioning that those large companies you mentioned and that is absolutely vital for danish economy and the welfare state as a whole is Lego (f. 1932) Maersk (f. 1904) Carlsberg (f. 1847) Lurpak (f. 1901) Novo (f. 1923) why is the year it was founded important? Answer = because Denmark was also a wealthy country with large important companies before we became a welfare state.
Perhaps we are able to control our economy better when the public sector is large. During economic downturn you have to spend a lot of money to give people money to restart spending. I think maybe because we pay our state so much it has the ability to do so. This would make economic downturns less devastating and easier to recover from.
Its still this.. that in high tax countries people is more satisfyed/happy/have a higher living standard!!! Howe come.. its kinda a hard thing to grasp!!?? In anyway its not the high taxes.. its rather the high productivity per capita that make a country rich per capita! And how f'''ing do one get a high productive population.. I give a hint, universal healtcare, free education (one get payd for going to university) subsidiced kindergarten/elderly care, payd maternety and paternety leave and subisidised public tranportation.. as a few benefits! Its this.. its a number game/a tax number game.. and that is a differens that "amurcans" cant understand! Take an example, a Danish burgerflipper at MC-D get 22 dollar an hour.. its not what they get in there hand, its what it cost for there employer! Wich include, universal healtcare, pension fund, 25 days of payd vacation, payd maternity/paternity leave, pay sick days/free shools! I can tell that burgerflippers still is one of least payd employes there is.. and it goes for the whole resturante and fastfood industry! Its this.. there is no cheap labour force to exploit! But then, who pay for it?.. its this we pay for it our self.. its the oposit in "america".. one pay a lot after taxes.. its like this.. in Scandinavia.. one pay taxes.. all inclusive, everything that one need is included! Soo the answer to, Why is Denamark rich despite high taxes????? Its a wrong question.. Denmark is rich becuse there goverment invest in there population.. to the purpose to make the whole country rich and competetive in the global market!! A benefit of this is that people that not is smart enough to get a university diploma get a high livng standard!
@@Sohave Yes company taxes is low in whole scandinavia.. its tax on there profit.. after expenditure and investment! In Denmark salarys are higher, but they then pays mandatory healt and social security insurance! For an example Sweden the company pays those insurance.. befor salary 33%.. less salary to brag about, same insurance! Its this problem with "happy" countries there/our population can chose to live alone if they wich, they can afford that! Then one have the problem of lonliness, its this if one comes frome a bad family its a releave, if one miss friends and siblings its can be a bad thing! And another thing.. one still need to compete in the happyest contries on earth, to be a part of that workforce and make the whole contry competetive on the world market!
Scandinavian countries have zero corruption and no big class difference, this creates economic stability. If you spend money unwisely you will be poor.
Lol you have clearly never been here, corruption and class difference here is huge, it's just that the rest of the world is even worse. Our biggest benefit is that there's less people here, considering humans are greedy and corrupt by nature.
Interesting that in the beginning, you mention the Netherlands as a country you are comparing GDP per capita, but that one is not listed on the graph that is on screen. Maybe pick a different graph that matches the voiceover, or mention countries that are actually on the graph?
"despite high tax" is the most hilarious sentence that keeps popping up. it's pretty clear that countries with social democracy, by far, perform the best by virtually all metrics you can find for countries. due to difference in social cohesion (partly due to size of countries geographically as well as amount) it's probably easier to make some things work these places, but there really isn't much of a logical reason for other countries to not simply copy a lot of what scandinavia is doing imo.
A better comparison is Sweden which is similar in many ways, but their economy has tanked. I'm sure there are many answers, but they libralised a lot of the welfare and became a more privatized economy.
You have to be a US citizen to believe that taxes makes you poor. Paying for common utilities through taxes is the cheaper way. Health care is great in the US, but twice as expensive as in politically developed countries.
The figure on income tax rate is misleading. There is progressive tax in Denmark and you only get to paying that high a rate if you earn millions from working, if you earn more than $95K the last $ will be taxed maybe 60% but your average tax rate is much lower. Say if you earn the average income in Denmark ie. around $74K a year, then taking deductions into account you'll be paying something like 31-32% in effective tax rate. Earn less and the effective tax rate drops and earn more it will go up. And on capital gains tax is never above 42%, it's 27% until you make more than $7.500, and then it jumps to 42% for anything above. If you have a bad year and take in a loss, then you can carry that over as deduction on future capital gains in the years to come. Also there is 0% tax if you sell your home and make a profit on that.
Actually Denmark is a case, that confirms Miltons teories. It is not the high income tax, that makes the wheels spin - it is our quite low company taxes that generetates the surplus we all benefit from
The basic assumptions by Classical Economists and neoliberals about the human condition are wrong. We are highly social animals with great empathy towards each other. Unless we are programmed to be otherwise, which seems to be going on in the USA and UK.
it is also wrong to say that Denmark does not have natural resources. Has the North Sea full of Gas and Oil. A. P. Møller just renovated his Gas, Oil trap in the North Sea. new Oil drilling platforms.
To all the people commenting that Danish income tax is not so high. Sure. But that's only a small portion of total taxes. Danish taxes are so high, that the government needs to hide it from people to make them accept it. You migth see a reasonable income tax, but when you spent your income theres the 25% VAT plus some crazy taxis such as the tax on the volume increase, which occurs when you blow air into milk to make softice.
High taxes but excellent public services, free education and childcare. I wouldn’t mind paying more taxes for these benefits seeing that even though I’m not a big earner every year at tax time I owe money what’s a bit more ha ha. You skimmed over housing, I believe like in other western nations there’s a shortage of housing. Affordable housing statistics 20% of housing is social housing. Here in Australia it’s only 4% and people wait years (my friend has been on the waiting list for twenty years) Also students have huge debt on completing their degrees.
The tax in Denmark. If you get sick, you don't have to look at your salary to see if you can afford to go to the hospital or if you can afford your medicine. in the US there are people who died because they could not afford their own medicine or could afford to go to the hospital. a good advantage of living in a country where you pay taxes, help each other, whether you are rich or poor. don't have to look at your salary if you can afford to stay healthy, fit. no difference between people in Denmark and in the USA
Because of their pragmatic nature. And unlike other neighbouring countries they didn’t allowed to be completely overrun by the 3th word Islamic colonisation, l guess..
@Matty94 both in terms of GDP per capita and GDP per capita PPP (Purchasing Power Parity) Denmark is repsectively ranked 9 and 11. So I think it's pretty safe to assume Denmark is very rich , especially compared to our seize. We even rank 37 in total in the world with a population below 6 mil. That's the same GDP as Malaysia has with 42mil at rank 36.
@@Matty94we are rich it’s just that your clearly not looking at our size if Denmark was as big as a lot of other European countries we would vastly outperform most countries. And if you think the reason we aren’t that rich is because of the gdp per capita thing just know the USA has a boat load of billionaires we don’t so theirs is obviously higher
The killer app for all the Nordic countries seems to be strong social cohesion, a business-friendly economy, and high taxes/benefits. Strong social cohesion leads to an efficient and corruption-free government as well as high levels of inter-personal trust and low crime. A business-friendly economy leads to high investment and low unemployment. High taxes and benefits leads to good education and health care as well as well-maintained infrastructure. Too bad they shot themselves in the foot by letting in huge numbers of poorly educated migrants that destroyed social cohesion and drained the welfare system. Luckily they seem to have learned their lesson and are putting the brakes on immigration. They would also be wise to steer clear of divisive identity politics which obliterates social cohesion by dividing the population into competing groups.
I totally agree. I don't understand why it isn't obvious that unfettered migration from non European countries will cause a break down of social cohesion and basically have a trickle down effect on all aspects of life. We see it in almost every single country with high levels of immigration of people with a different set of cultural standards and beliefs. A real pity no country has the initiative to tackle the issue head on. Germany, France, Spain, Italy, UK, parts of Sweden. Almost single handedly ruined in a single generation.
sigh People are so obsessed with blaming migrants for everything. We've had a lot of migrants in Ireland too but it's poor government policy that's hurt us.
@@EuropeanQoheleth I agree that poor government can cripple a country, even when everything else is done right. But unfortunately migrants can be a real problem if done wrong, and to deny this is wilful blindness. The issue isn't migration per se, but the type of migrant you can get. Carefully selected migrants that are well-educated and culturally similar to the host country can be a massive asset. But accepting poorly educated migrants who have completely different cultural values is asking for trouble.
MISUNDERSTANDINGS CORRECTION Minimum salary pr hour is very high compared to USA. its 22$ in DK and 7.25 in US. Personal pre tax deduction and driving decuction means that you have lots of money after tax. When we have payed our taxes we have 12-14$ (on minimum wage) and all the benefits - FREE healtcare, its cost 0 $ to call an ambulance, 0$ to visis a doctor, 0$ if you break a leg, 0@ if you get cancer and so on. We have free schools, free university We even GET PAYD to educate outselves ---> yes we get payd 🙂 USA have 7.25 and still havent payd tax or healthcare insurance yet... And no we are NOT socialist either, we have parlementaric democracy in DK 👌
as a dane u really can just be a simple bus driver or any other average income job and still afford a house a decent car and still save up some money for other things like investing in stocks or whatever u really enjoy if of course u live by a budget and dont overspend on stupid flashy stuff our country is great but it only functions as long as the money input is greater than the money output to the gouverment and right now we are over spending compared to what we put in so for how long this model will work is still questonable to be honest. things will definetly change over the next 20 years and not for the better of the average joe earning 50-100k$
You can only afford a house on a bus drivers salary if you buy a house in Lolland Falster, Langeland or some regions of western Jutland. The average bus-driver in Denmark makes 28.000 Kroner pro month before tax, Then we have tax on labor plus workforce contribution and that new tax we got to pay for men going on maternity leave, then he is left with roughly half = 14.000 Kroner, Food is expensive and has a vat of 25% but if he is single, does not have kids and lives frugal he can get off with 6.000 kroner pro month (2021 estimate this is before inflation it is much more today) leaving him with 8000 kroner, Then there is water, heating, sewer and electricity which is also heavily taxed. He will have to cook with his frugal life style so electricity will be at least 700 kroner pro month, Then there is water which is more expensive because it also got sewer and another tax in it. but lets be generous and say he only expends 1400 kroner each month for those. Thus he is left with 6600 kroner to pay off the house each month if he lives frugal raises no kids, has no partner nor pets and never goes on holiday. that is 79.000 Kroner each year to pay off a house loan. So if he want to pay off a house in 10 years it must not cost more than 790.000 Kroner! this severely limits where he can live Remember we did not count a car nor public transport into this so he is left with the option of cycling or walking to the bus depo. Lets say he got 20 years of frugal life to pay off the house, then it is allowed to cost 1.580.000 kroner. Which puts him in the outskirts of some Danish towns and cities but not in the outskirts of Copenhagen nor Odense or Aarhus. What you are claiming would perhaps be true some 30 - 40 years ago.
@@SohaveI had similar discussions with other people. Copenhagen prices are inflated, and is not comparable to "Denmark". You can't expect to live inside Copenhagen in a house if you don't have a very good salary. It's basically the same in every capital in the world.
@@Stefus87 It is not just Copenhagen you cant pay off a house in Roskilde, Helsingør Odense, Aarhus, Aalborg, Svendborg, Middelfart and many others with a normal salary. The situation in the Danish housing market is more comparable to Ireland, You can still get cheap housing in the suburbs of Berlin.
@@Sohave nu er jeg selv buschauffør, jeg har 21000kr udbetalt hver måned plus fritvalgs opsparing som bliver 32000 kr som bliver ubetalt 2 gange om året oveni altså 16000 kr før skat hver juni og december. husk ens løn der bliver udbetalt er også betinget af ens individuelle fradrag ancinitet og chauffør uddannelse aktier og overarbejde lad os sige jeg har faste udgifter for omkring 8000 kr det er husleje billån el regning varme regning forsikring osv. så sætter jeg 6000kr til forbrug af mad og benzin om måneden så har jeg 7000kr nu plusser vi så min fritvalgs opsparing oveni lad os sige 1200 det er 8200 kr jeg kan spare op om måneden det er 82000 kr om året så hvis jeg lever efter dette budget i 5 år så er der sparet 400000 kr hvilket er mere end rigeligt til at købe og finansere et hus til omkring 1 million ingen tal her er overdrevet eller noget men hvis man har lave udgifter og et relativt højt fradrag pga kørsel lån a kasse osv så kan man SAGTENS købe et hus og have en fin bil ved siden af og det her er bare min økonomi hvis man har en partner der bare tjener noget lignene så kan du selv regne resten ud jeg har bestemt ikke 14000 kr udbetalt haha
@@Sohave jeg kan sende et billede af min lønseddel hvor jeg har 21500kr udbetalt altså 36000kr før skat med 9500kr i skattefradrag så din matematik er ikke helt rigtig
Taxes in denmark are not so high as you could think because they don't have social security tax. Employers only pay gross salary, not mandatory contributions exist
Yes and we also get a lot in return. Like childcare is cheap and we all have a lot of tax deductions too much more, so a lot of the money goes right back to you.
Denmark is literally one of the safest if not the safest place in the world so why the hell should we need to pay tax for that? When there’s no reason to
@@patfre social security is not about security and crime, it's about unemployment benefits and pension retirement benefits and in denmark it works in a different form like other systems with social security taxes
The agricultural industri has slowly destroyed the waters around Denmark, has polluted the drinking water and soon insects like Bies will be a rare thing due to chemical toxic misuse. Yeah , we are certainly rich
Okay. The Danish taxes are too high, and many of the services doesn't work as supposed to. As an example, our Healthcare system has no competition either on numbers of how many survives an illness or prices. So with no competition between hospitals there are many doctors in their late 60's to middel of 70's who doesn't see patients and get up to 400.000 USD/year. We have a police force that simply doesn't care about the constitution and enable to make it possible to do crimes for the politicians. The police shutdown and destroyed a huge number of legal businesses during coronalockdowns.
If Denmark is so good why has it not been overwhelmed by immigrants? Why have all the successful companies not been bought out by richer foreign companies?
Yes and, if the Danes in DK are so good paying all their very high taxes in order to take good care of themselves, why then are they still trafficking children and women worldwide and, why don't they comply with international Law? And, how comes the Danes STILL use nazi "laws" - how many Danes "disappear" every year and, where can we find this in your "statistics"? Denmark is a 100% Eugenics country, cleansing out her own, every tíme her government is overspending but, maybe this is just part of the "simply so happy" Danish taxation?? And finally, how comes, the majority of Danes moving abroad (the few left who are not killed/disappeared) never come back??? PS This about "trust" - please speak for yourself. I and, thousands others from DK, have never in our lives, met any trustworthy person from/within the Danish authorities - only the opposite!? And the direct warnings from other countries regarding all of the above? Have these direct warnings been taken out of the blue or, Could there be a LOT of truths in these warnings? In short, Denmark is not and. Will never be, a place to come back to - especially not for us, who love our lives...
Strict immigration policies and many successful companies are bought out by foreign companies, however the more classical/old successful companies are still either family run or have been put in a foundation which are restricted in how many shares are allowed into public domain eg the foundation will always be the majority shareholder.
Interesting and good perspective. However, there is a lot of untapped potential in Denmark due to waste in the public sector. Also from a cultural perspective, the high proportion of the population employed by the public sector means there is an overall low level of entrepreneurship. Most of Danish businesses succesful at the global stage mentiioned in the video were founded almost a century ago. Very few new businesses make it. I would say the success of Denmark is based largely on the pragmatic approach and social cohesion as mentioned in the video. However, the social coherseion is challenged by recent governments who has broken the law and retroactively fixed it through an act of parliament, abused the judiciary to attack political enemies such as the former head of the security police. The strenghts upon which Denmarks success is built are deteriorating. It will be interesting to see, where the country ranks in 10 to 15 years. I'm not optimistic, but as a Dane, I hope I'm wrong.
But increasingly higher tax payers choosing private schools and private health insurance and private age Care services. Higher tax payers get less benefits from welfare.
A well run country where trust in the government is high and EARNED. Denmark just disproves that you can't have high taxes and prosper. Nope, it's all about how corrupt a government is who spends that money.
@@bjornjonsson7037 if you collect huge taxes, and just distribute the collected money among a dictator and his friends, those high taxes will kill the economy, but if you instead use them to invest wisely in society, such as infrastructure and education, that is beneficial to the economy. GDR did the same in the US, and ended the great depression that way.
@@simonnielsen1525 Yup, obviously 🙂
I'm not sure why it's "despite" high taxes.
Better education, healthcare, and support for everyone is good for the economy.
A combination of Denmark and Finland seem to point in the best direction.
It is "despite" high taxes -- other European countries have similarly high taxes to Denmark but have much poorer economic and social outcomes: e.g. France
@@jiraiyaerosennin5623it's mot purely despite high taxes.
Exactly. If you make an educated and healthy work force and make it a good place for business, guess what happens...you get more money in return from taxes and its actually more than you even spend on the investment into education and healthcare.
Funny how that works.
I am a Dane and I look back at my education in the public school system from 1994 to 2004 as horrible! the schools was full of noise, the teachers could not control troublemakers nor bullies. I learned to read, write and do basic math plus a little English and very little German, things I needed to expand on later at my own initiative. Most of our books was photocopies of old text books, we would sometimes loose and carried around in an over filled binder that gave us paper cuts when we slide it in and out of our school bag for class. The teachers wasted time on stupid play stuff that was more for drilling in compliance than teaching us valuable skills.
Also I hate the high taxes. We use about 33 Billions on integration and other expenses for non western migrants every year plus the political class global ambitions such as preventing the Ukrainian regime from falling to the Russian regime, not to mention paying off millions to questionable governments in the third world as aid and millions to our own state owned press to propagandize the people with the current message as well as media support to all the main stream newspapers. If I could get rid of all those expenditures I would gladly sacrifice the state funded healthcare for it!
Denmark is not magical, don't become like us!
@Sohave first of all i doubt you are Danish and if you are, im happy that you represent a very small minority in Denmark.
You do know we have free movement in Europe right?
If you really hate the Danish system that much you can just more to place you like better instead of being so bitter.
Secondly we are ranked 9 in GDP per capita in the world and ranked 11 in the world in GDP per capita PPP.
On top of that was rank in the top of GNI indeks so we have very small difference on rich and poor. Which combined basically means, that there is very few people on the planet as rich as us.
Maybe you need to travel more or reseach more so you get to know just how good we have it in Denmark.
If you truly are Danish I wish you the best and hope you educate yourself and lose the bitterness you have.
So you are able to live happily in the great country of Denmark. The bitterness I saw, I wouldn't wish on my worst enemy, so hopefully you can overcome it.
Have a nice day.
Because we trust each other
hell no det gøre vi ikke nu er det lort du lukker ud veldfærer er ikke alles men folketinget og de riges
Now bring in a whole bunch of people who don’t look like you and let see if that will change
@@bigzclipz5104By your logic ethnic homogeneous countries should be high trust societies. Factually there is hardly any correlation.
@@BartSliggers keep coping but we all have eyes
this is why Japan is safe too.
*I wasn't financial free until my 40’s and I’m still in my 40’s, bought my third house already, earn on a monthly through passive income, and got 4 out of 5 goals, just hope it encourages someone's that it doesn’t matter if you don’t have any of them right now, you can start TODAY regardless your age INVEST and change your future! Investing in the financial market is a grand choice I made.*
The wisest thing that should be on everyone mind currently should be to invest in different streams of income that doesn't depend on government paycheck, especially with the current economic crisis around the world. This is still a time to invest in Stocks, Forex and Digital currencies.
That's awesome!!! I know nothing about investment and I'm keen on getting started.
What are your strategies?
People dismiss the importance of advisors until they are burned by their own emotions.
I remember a couple of summers ago, following my lengthy divorce, I needed a good boost to assist my business stay alive, so I looked for qualified consultants and came across someone with the highest qualifications. He has helped me raise my reserve from $275k to $850k, despite inflation.
If you are using really a good broker or account manager is easier to earn from the market
Investing with an expert is the best strategy for beginners and busy investors, as most failures and losses in investment usually happen when you invest without proper guidance. I'm speaking from experience.
Dane here, Childcare is not free.and Denmark is a Liberal social democracy not a socialist country as many think.
Childcare is not free for most people but heavily subsidized. The poorest can also apply to get it for free. E.g. it's free for single parents with two or more kids unless they earn a high income.
@@ThorRavnsborg and those of us who have/had money and children don't begrudge paying,well most of us don't.
Both liberalism (Its roots at least) and social democracy are both types of socialism. Don't get it confused by Americans who think all socialism is either 19th century philosophy or communism.
@@doodlePimp Social democracy broke away from the socialist movement in the 1850s. They share common ancestry, but social democracy is distinct from socialism.
@@simonnielsen1525 All modern socialist ideologies have broken away from their common socialist roots. There were plenty of weird variants that came from those original ideas, like market socialism (Was never implemented IIRC). The socialism that existed when Karl Marx wrote the Communist Manifesto is long dead and gone.
After Stalin's reforms I do not think communism even qualifies as socialism anymore. It is instead some kind of Authoritarian Kleptocracy.
One thing often overlooked when it comes to Danish taxes is that the cost of living isn't taxed, this means if you only make enough to survive you will pay almost no taxes as your cost of living is deducted prior to taxation
I technically pay 42% in taxes, but once my cost of living is deducted I only end up sending the taxman 25-28% as my income isn't that high
🤣🤣🤣🤣🤣🤣🤣🤣
I live here and I have never herd of that, It was not there for my low income family when I was a kid in the 90's and early 00's We were taxed close to half of our income, same as everyone else.
@@Sohave du har bundfradrag eller personfradrag, kært barn har mange navne, hvis du er dansk statsborger jeg skal ikke kunne sige om det samme gælder hvis du kun har opholdstilladelse, selv børn har deres frikort fra de fylder 13 som i grove træk svare til det samme
Hvis du tager din løn før skat og regner ud hvor stor en procentdel du har tilbage efter skat så ville det undre mig meget hvis kom frem til at din skatteprocent var præcis det der stod den skulle være
Jeg har bekendte på kontanthjælp og med personfradrag på ligegodt 4000 og under 6000 udbetalt før skat så er det ikke mange procent der går til skat selvom der står 39% på lønseddelen, for at være lidt mere præcis så får skat lidt under 800 og min bekendte får omkring 5200 efter skat, de omkring 13% der går til skat må siges at være langt fra omkring 40%
Det moderne fradrag var også en ting i den periode du nævner, indført i 1994 som det ser ud i dag, men lignende fradrag har eksisteret siden 1903 så hvis i har haft lav indkomst, for eksempel været på SU, så har i ikke betalt 39% forudsat at gældende regler og love er blevet overholdt
Fradrag i år er på 49 tusind et eller andet så mon ikke der et eller andet sted på din lønseddel står fradrag efterfulgt af et beløb i omegnen af 4000-4500
@@Sohave google bundfradrag the first 4k or so you make every month isnt taxed
@@Sohave bundfradrag har eksisteret siden 90erne so jo det var en ting da du var barn og er stadig
Moral cohesiveness and the population looking beyond their own wallets…Sadly lacking here in the UK
You mean homogeneous tribe
@@bigzclipz5104 Ethnicity has absolutely nothing to do with it.
Personal deduction (Personlig fradrag) is never mentioned and has such an impact on lower incomes, add to that residential financial aid (boligsikring) and you are looking at a potential 20% tax rate for a low income family. Taxes in Denmark differ a lot from family to family, all depending on how wealthy you are, how much you owe and your investments.
On a calculated taxation scale I was actually paying more taxes in Portugal than I am in Denmark with roughly the same income.
Not to mention that medical care is free (You still have to pay for the medicine, but at a greatly reduced cost). You also get a tax deduction from inssurances because the state wants to push you towards having an insurance to secure yourself now and in the future. This is a great tactic really, because if everyone is secured by an insurance then the state will not have to take of you.
This extends to pensions both privately and employer sponsered pension plans. You get a tax deduction for saving up to a pension. Should you choose to take out your pension before pension age or without a legal reason (Lets say you are deadly ill) you will have to pay a tax fee.
Education, education and education.
Even though it can be a very dissapointing at times, most businesses and management positions require proper education even if you have experience. But it also builds trust in knowing that most people know what they are doing. Errors DO happen!
As I watch this video and others, about how people in other countries sees Denmark. It is with a sense of pride and thankfulness of being born here. We have great neighbors! Not only friends but in many cases they are also family. Compared to the US, we are in two different worlds. For one, you would NEVER see someone like Trump being voted into the highest office here.
The US is too saturated in drugs, gun violence and lack of control thereof. A massive mistrust of the government and other officials. There's lobbying, just another word for corruption, all the way to the highest court. It very well looks for an outsider like it is every man for himself in the US. It would be a LONG road to get a similar welfare state(s) and it would have to start with free education of higher learning, not only for the wealthy but for everyone.
The Danish income tax rate is comparable to France's and Spain's. The German tax rate is lower, but not that much lower. So this is really a Western European phenomenon.
Not Western European Denmark is northern mid/Eastern Europe. I would far more say it’s a European phenomenon at least when excluding most the mid and southern Eastern European countries
Are you sure about that?
38% income tax + 8% labor market contribution = 46% + 25% VAT on ALL goods. Registration tax on cars can = up to 150% of the car depending on the value of it. We have something called Top tax which is 52%.
@@Andreassoegaardhave you tried calculating your actual tax burden? You have deductibles that lower your overall taxes, I pay about 27% in total once deductibles are accounted for
You are ofcourse right about everything else, but taxes aren't that high for the lower classes as your "personfradrag eller bundfradrag" gives you tax exemption for the first 40-50k you earn lowering your tax burden
@@thedanishvikingpilgrim5753 i am Danish, I have a Spanish manager. I can assure you it is, and their wage is not higher than us. Their system is actually in brackets. So if you get a 500 eur raise a month you can end up losing money because you reach a new tax bracket.
@@Andreassoegaard well funny that I have spanish friends that pay what I wrote
Denmark is just a well run country with good infrastructure. Everything seems to work and get better when there is found problems. I am from UK but been living in dk 13 years .the highe income taxes are justified when you see what you get in return .love it in dk
A Eugenics place, regularly directly slaughtering their own, has absolutely nothing in common with a "well run" place!! It's a pure developing country - nothing else!
My children can go to University for free,My daughter does (Jura) and son will follow on some course and will gladly pay my taxes,Almost no homeless (Britain,Ireland)A corrupt free system and you get what you pay for,From a Irishman (Tramore) here in DK.
I would like to lower my taxes! And there are still a bunch of homeless people and beggars.
Homeless and beggars are not danish. They are all from east Europe and are run by east European mafias
@Sohave 88% of danes have no issue with their taxes. The rest 12% are not decided or against.
So you are a small minority of danes.
Poverty is 0.3% in Denmark and most of these are drug addicts that don't want help. So no, we don't have a lot of homeless or buggers. That's just flat out wrong.
If the last 0.3% would accept help and get clean in one of our institutions for free, we could remove the last 0.3% of poverty.
However we can't force anyone against their will.
In Ireland you study on paid grants or pay..
Denmark may not have that many homeless people.....Denmark periodically slaughter their own for money...eg.the majority of the Danes who lived and worked here in Dublin...maybe the person from Tramire can help the Danish Criminal psychopaths coming here for the personal belongings of these innocent, now murdered Danes??
I did an interesting little experiment a few years ago:I plotted total tax burden/GDP vs GDP per capita of all of the EU/EEA countries based on numbers from Eurostat, and with the exception of two easily explained clear outliers, there was a very direct almost linear correlation between the two. I won't go as far as to claim causality, because I know, that everyone, who confuses correlation with causality dies, but the experiment very clearly shows, that high taxes does not cause a bad economy. It might do if the tax money collected is spent unwisely, but there certainly isn't a direct causality of high taxes means a bad economy.
Lived and worked in the UK for 5.5 years. Returned home and could rent a two bedroom flat for the same price as I'd paid for a room in a shared house in Cambridge. Denmark being ridiculously expensive is a myth we like to perpetrate so we can lower the rate of immigration :'D
Or it's because people think Denmark = Copenhagen.
@@Valjean666dk sigh Yet naother satanist.
@Valjean666dk exactly. I recently moved from Copenhagen to aalborg, and I now pay less than half the price 😄
Really good one🇩🇰👌
most of us does not pay 56% in taxes. Most of use are paying roughly 39% in tax You will have to earn roughly 80.000 USD before having to pay 56% and when only for the amount of earnings above those 80.000 USD so I might be that people do not mind the high percentage because most of us do not pay it. If the large majority of us had to pay it, we might look at the tax level differently.
Because we aim to give every citizen a good life, not just a small percentage of the population. A population with decent individual incomes makes the cash flow. Modern economists know this, but it hasn't reached the American schools yet. And an educated population also has its economic advantages.
Ok and if that the truth than bring in a whole bunch of foreigners who don’t want to work
52-56% is the marginal tax rate i.e. what high income earners pay of their last earned money above a certain yearly amount. The average income tax is about 42%.
Yes and this is not counting all the tax deductions we have as well. So no one actually pay these percentages of their total.
38% for the lowest income groups; and then there is a basic amount where you do not pay tax.
I pay around 25% income taxes when you count all the tax deductions. At the end of a year you can see exactly how much you earned and how much you paid in taxes, and then just do the calculation from these two figures. I think you may be surprised.
A little error in this very nice “commercial” for DANMARK🇩🇰. Sorry, there is no free childcare in Denmark but the state chips in to keep the price low. The price for one child is about usd 450 a month and a little less per child if you have more going at the same time.
Also we have no toll on roads but we have to pay driving over the Storebælt-Bridge and when we transport us around on ferries and by train. All this is kept fairly low by support from tax on cars and petrol.
We are rich BECAUSE of high taxes. WE don’t pay for going to school, University, doctor, hospital, and we have a great pension system. So we SAVE spending on these services where people in many other countries pay for this, and in many cases to profit run companies/hospitals where treatment/education is a lot more expensive. Salaries in Denmark “fits” the tax system….. A waiter or worker in i.e. McDonald’s gets appx $3360 Per month befor tax based on a 37 hour work week (with 6 weeks of paid holidays per year).
Taxes on work in Denmark are around the OECD average
Many people pays only 38 % i Taxes
@@pallebirkholm9347 Do you even work? you pay 8% labor market contribution + 38% income tax. Not counting the 25% VAT on all goods which is not the norm in EU. Not to mention Top Tax (Topskat) which can ammount to 52% of all income above an upper limit.
@@Andreassoegaard And for that, you have to deduct a number of deductions before you start paying tax. Personal allowance, driving to work. Support for public transport. You must also deduct a number of subsidies for things that you pay full price for in e.g. USA. An example is medicine.
The whole discussion gets muddy quickly if you look exclusively at tax. You also need to look at the entire calculation.
@@Andreassoegaard i thought the Labor market contribution was only 3% ._.
So this means
46% goes to Tax and contribution
25% additional on products
Bruh
That is... 71%
And like then People do not take into account
You also need to pay for meds and transportation
So like... You keep 10% to yourself, 90% goes into other people's pocket but at least some stores has a 25% off sooooooo if you buy the stuff that is 25% off this now means you save the VAT
@@AndersGetherSoerensen I am not saying the model is bad at all, it is proven that our system is cheaper and more efficient than having it privatized like the US. But in this context it does not change the fact that we are heavily taxed and way more than other EU countries. Registration tax on cars as an example that is very rare in the world which can amount to 150% of the car.
Good selection of graphs too!
It’s a good thing to once in a while be reminded how well we’re doing. It’s too easy to focus solely on the problems and shortcommings
Economic freedom is the key.....you can have high taxes and still prosper if you have trust worthy institutions which protect individual and property rights and....a high level of economic freedom like it is the case in Denmark.
After all, it doesn’t matter what you pay in tax - it’s all about how good your life is. And nobody in the world have a middle class who has such a high living standard ❤❤❤
Fascinating - other than knowing it as an egalitarian society, I had no idea. Thanks Tejvan
Generally the idea that taxes are bad for the economy and personal wealth, needs to go away. It all depends on how the taxes are used. The stuff paid for with taxes are also stuff you don't have to pay for out of pocket.
Childcare isn't free in Denmark. It's also noteworthy that hardly anyone can exist solely on the government supplied pension. To counter this, most workers pay 8-15% of their salary into pension funds.
Now, if we could finally adopt the Finnish education system, it would be all bliss.
@NMalteC childcare is free if you are low income. Middle and high income get a reduction.
You can live off government pension. My mom does and she has a nice 2 room apartment in the middle of copenhagen and have enough for food and also have enough to buy glasses and save up for travel and so on.
It's true if you want to live a lavish retirement you need to save up some extra, but most people already do in their house. Many sell their house when they retire and easily have 500k euro or for some much more. Then some have their extra retirement funds of 2-3k euro extra per month.
This is on top of their 2k euro a month from government after tax.
So they are doing just fine.
@NMalteC it's true Finland has a better education system. However, Denmarks is also top tier in the world.
The Scandinavian countries are always close in all ranking, and the reason for this is we almost always learn from each other.
When one country tries a new approach, the other countries watch and get all the data, and if the program is a success, it is almost always adapted by the other Scandinavian countries.
If it fails, we still get all the data, and then one of the other might take a different approach.
This kind of sharing is one of the big factors in why the Scandinavian countries progress so fast.
It should be said that Finland is often Drnmarks' main competitor in these rankings, and if Finland sees this, know we will pass you again soon 😄
But great job, Finland.
@NMalteC you write most Danes often save 8-15% of their own salary for pension.
That is somewhat true.
However this is a part of our salary and is negotiated by the unions and does not count into our hourly wage.
So if you count this as wage, as I guess you should, you basically have to add 8-15% to the average Danes wage in most statistics.
It's very rare these are included in wage statistics.
Excellent fact based video!
Child Care is not completely free in Denmark. Families have to make a contribution for each child they have in a preschool institution, but that contribution may by law not exceed 25% of the net cost. Otherwise a quite fair representation of Denmark. I'm a Brexit refugee, living here now for 22 years - no regrets.
Danes dont have to keep savings in case we need health care, we know it won't be a sudden big bill. Same with school. It's free to go. So we actually spend our money and work with actually good pay. Thereby keeping the economy going
But they cant stay in their house when they get old because of the extreme cost of living. Have you seen that clip where an old lady asks Mette Frederiksen on open cammera how she can survive and Mette just tells her to sell her house and live from that.
Because Denmark has amazing institutions that invest in public goods and geography
Is called socialism
@@RoniiNN social democracy*
@@RoniiNNDenmark is a capalistic country, no doubt about it. We just have a lot of social policies, just like everyone else. The only difference is that ours goes a bit further than they do in the UK or the US..
We invest in each other.
@@RoniiNN You have no idea, what socialism is. You need better education, in your country. But that would be socialism, right. It's better to be an ignorant buffoon...
Denmark has extracted oil from the North Sea since the early 70ties..
Total Energies has just refurbed a large gas production rig in the NS....
@@janfswedane yes, we had a little bit, but nothing compared to Norway.
1 year our revenue was 1.5 bil euro, compare that ro Norway 160 bil euro. 160 bil euro is about the same as the entire stat budget for a year.
One of the reasons Denmark seems a bit "hostile" against immigrants is the problems many of them cause. They don't want to integrate, and do not respect the culture. Just look at the crime statistics. But they are certainly very interested in the danish welfare system and anything else they can get their hands on for free. When danes have build a society that works well, it's no wonder they don't want others to come and destroy it. In general danes don't mind people coming to the country, as long as they will integrate and contribute to the system. Being such a small country the amount of people trying to get to Denmark can be very overwhelming.
Think about it,in USA your money can be gone if you get sick or need an operation,some folks have to sell it all to get treated in the hospital,I never used five cents on healtcare,its all "Free" because we pay taxes.....
According to the most recent figures from the OECD, Denmark has the 7th highest tax burden in the OECD = 42%.
In addition, Denmark taxes most forms of transfer income and this makes the Danish tax burden artificially high compared to countries that do not tax transfer income
48%
What do you mean by 'transfer income'?
@@tancreddehauteville764
What I mean by transfer income. All income subsidies received from the state.
@@tancreddehauteville764 Actual tax is a very hard thing to measure. In Denmark we have a tax code which is somewhat transparent compared to other countries. That makes it look like we pay a large amount of taxes. But if you look into it its not much different than places like the US etc. and we also dont have hidden taxes like paying for education or health insurance.
The overall taxes on income are actually lower compared to other countries. The baseline is high but all the other extra taxes levied are not so.
I visited Denmark years ago (before the mass immigration) and the harmony and the equality of wealth were striking. I became convinced that it is a model society. Since then I have always said we should understand the reasons for Denmark's obvious success and learn from it. I can't see US or UK politicians ever accepting that there are far better ways to do things. Scandinavia quite simply makes the rest of us look inferior.
Most of the nordic countries have small populations and despite migration being a more recent phenomenon, the populations are still for the majority, homogenous, culturally speaking. So such models can work in such circumstances as such populations are likely to have more trust in one another. And trust is the absolute key if such models are to be successful. Larger countries with more cultural diversity, larger populations, longer history of institutional mistrust etc. like the UK, France, Germany etc, I'm not so sure you can replicate such models and expect to make it a success.
I fail to see how homogenity is a factor. Iceland had that too but its economy didn't get anywhere until World War II.
What this video really lacks is the emphasis on labor productivity. It is our high productivity levels that enables us to have high income and despite high tax levels also have a high private consumption.
It could have been worth mentioning that those large companies you mentioned and that is absolutely vital for danish economy and the welfare state as a whole is
Lego (f. 1932)
Maersk (f. 1904)
Carlsberg (f. 1847)
Lurpak (f. 1901)
Novo (f. 1923)
why is the year it was founded important?
Answer = because Denmark was also a wealthy country with large important companies before we became a welfare state.
Perhaps we are able to control our economy better when the public sector is large. During economic downturn you have to spend a lot of money to give people money to restart spending. I think maybe because we pay our state so much it has the ability to do so. This would make economic downturns less devastating and easier to recover from.
Danish ppl are genius
I disagree, I'm a Dane living in the USA.
@@ibberman hahaha, det er jeg ked af at hører.. men så må du love mig du stemmer på trump, og ikke Harris.
@@ibberman average dane is smarter than average American, but ok mr nobody.
Loving all the high saturation video of Denmark, lol. What a paradise!
Its still this.. that in high tax countries people is more satisfyed/happy/have a higher living standard!!!
Howe come.. its kinda a hard thing to grasp!!??
In anyway its not the high taxes.. its rather the high productivity per capita that make a country rich per capita!
And how f'''ing do one get a high productive population.. I give a hint, universal healtcare, free education (one get payd for going to university) subsidiced kindergarten/elderly care, payd maternety and paternety leave and subisidised public tranportation.. as a few benefits!
Its this.. its a number game/a tax number game.. and that is a differens that "amurcans" cant understand!
Take an example, a Danish burgerflipper at MC-D get 22 dollar an hour.. its not what they get in there hand, its what it cost for there employer! Wich include, universal healtcare, pension fund, 25 days of payd vacation, payd maternity/paternity leave, pay sick days/free shools!
I can tell that burgerflippers still is one of least payd employes there is.. and it goes for the whole resturante and fastfood industry!
Its this.. there is no cheap labour force to exploit!
But then, who pay for it?.. its this we pay for it our self.. its the oposit in "america".. one pay a lot after taxes.. its like this.. in Scandinavia.. one pay taxes.. all inclusive, everything that one need is included!
Soo the answer to, Why is Denamark rich despite high taxes?????
Its a wrong question.. Denmark is rich becuse there goverment invest in there population.. to the purpose to make the whole country rich and competetive in the global market!!
A benefit of this is that people that not is smart enough to get a university diploma get a high livng standard!
Company tax is actually quit low.
And Denmark is also a huge consumer of anti depressant drugs.
@@Sohave Yes company taxes is low in whole scandinavia.. its tax on there profit.. after expenditure and investment!
In Denmark salarys are higher, but they then pays mandatory healt and social security insurance!
For an example Sweden the company pays those insurance.. befor salary 33%.. less salary to brag about, same insurance!
Its this problem with "happy" countries there/our population can chose to live alone if they wich, they can afford that!
Then one have the problem of lonliness, its this if one comes frome a bad family its a releave, if one miss friends and siblings its can be a bad thing!
And another thing.. one still need to compete in the happyest contries on earth, to be a part of that workforce and make the whole contry competetive on the world market!
Because taxes are reinvested into society, not used to bail out banks
Well danish government bailed out banks as well.
@@FaithlessDeviant and airlines (SAS)
Scandinavian countries have zero corruption and no big class difference, this creates economic stability. If you spend money unwisely you will be poor.
Lol you have clearly never been here, corruption and class difference here is huge, it's just that the rest of the world is even worse. Our biggest benefit is that there's less people here, considering humans are greedy and corrupt by nature.
David cay Johnston say this too. That rich countries are wealthy countries . He said there's some exceptions but generally it's ttrue.
Interesting that in the beginning, you mention the Netherlands as a country you are comparing GDP per capita, but that one is not listed on the graph that is on screen. Maybe pick a different graph that matches the voiceover, or mention countries that are actually on the graph?
And now NOVO Nordisk has taken over :)
Sorry but I just read about The U.S food prices, they are much higher due to your inflation than they are in Denmark.
"despite high tax" is the most hilarious sentence that keeps popping up. it's pretty clear that countries with social democracy, by far, perform the best by virtually all metrics you can find for countries. due to difference in social cohesion (partly due to size of countries geographically as well as amount) it's probably easier to make some things work these places, but there really isn't much of a logical reason for other countries to not simply copy a lot of what scandinavia is doing imo.
A better comparison is Sweden which is similar in many ways, but their economy has tanked. I'm sure there are many answers, but they libralised a lot of the welfare and became a more privatized economy.
Sweden's cost for menapt immigrants might have something to do whit that, must be astronomical.
I’m sure massive oil sales played the key role here
You may be sure, but you are wrong. We never had "massive oil sales", you are thinking of Norway.
I think the wealth and happiness owe a lot to Lego !!
I think we Owe everything to the people of Denmark, not just 1 company. What a silly thing to say.
You have to be a US citizen to believe that taxes makes you poor.
Paying for common utilities through taxes is the cheaper way.
Health care is great in the US, but twice as expensive as in politically developed countries.
The figure on income tax rate is misleading.
There is progressive tax in Denmark and you only get to paying that high a rate if you earn millions from working, if you earn more than $95K the last $ will be taxed maybe 60% but your average tax rate is much lower. Say if you earn the average income in Denmark ie. around $74K a year, then taking deductions into account you'll be paying something like 31-32% in effective tax rate. Earn less and the effective tax rate drops and earn more it will go up.
And on capital gains tax is never above 42%, it's 27% until you make more than $7.500, and then it jumps to 42% for anything above. If you have a bad year and take in a loss, then you can carry that over as deduction on future capital gains in the years to come. Also there is 0% tax if you sell your home and make a profit on that.
Actually Denmark is a case, that confirms Miltons teories. It is not the high income tax, that makes the wheels spin - it is our quite low company taxes that generetates the surplus we all benefit from
Education creates the wealth and labour adds the value.
Funny how the bad stuff is true, but the good stuff is a fever dream
No surprise there. Small population with good services. High mean good services.
The basic assumptions by Classical Economists and neoliberals about the human condition are wrong.
We are highly social animals with great empathy towards each other.
Unless we are programmed to be otherwise, which seems to be going on in the USA and UK.
it is also wrong to say that Denmark does not have natural resources. Has the North Sea full of Gas and Oil. A. P. Møller just renovated his Gas, Oil trap in the North Sea. new Oil drilling platforms.
To all the people commenting that Danish income tax is not so high. Sure. But that's only a small portion of total taxes. Danish taxes are so high, that the government needs to hide it from people to make them accept it. You migth see a reasonable income tax, but when you spent your income theres the 25% VAT plus some crazy taxis such as the tax on the volume increase, which occurs when you blow air into milk to make softice.
I can hear from the facts that you must be a fellow Dane 🙂
Simply because of equality and taxes
Got some things wrong in this.. You have to pay for childcare.. And studentdebt exists here too.. Esp for long educations..
I think it's viewed as if you're single and not having to pay for childcare untill you get another partner again.
High taxes but excellent public services, free education and childcare. I wouldn’t mind paying more taxes for these benefits seeing that even though I’m not a big earner every year at tax time I owe money what’s a bit more ha ha. You skimmed over housing, I believe like in other western nations there’s a shortage of housing. Affordable housing statistics 20% of housing is social housing. Here in Australia it’s only 4% and people wait years (my friend has been on the waiting list for twenty years) Also students have huge debt on completing their degrees.
Nice one. Unsolicited recommendation - add a subtle, pleasant music to the background. Will spark up the video.
nope this is better then crap music in the back so you can not hear what are sayed ...
The tax in Denmark. If you get sick, you don't have to look at your salary to see if you can afford to go to the hospital or if you can afford your medicine. in the US there are people who died because they could not afford their own medicine or could afford to go to the hospital. a good advantage of living in a country where you pay taxes, help each other, whether you are rich or poor. don't have to look at your salary if you can afford to stay healthy, fit. no difference between people in Denmark and in the USA
we don't pay 52-56% taxes. 55% is the MAXIMUM - and most pay a around 40-45% (some a bit lower - some higher).
No natural resources?
DK is the largest oil producer in the EU, after the UK left the union.
Restrictive immigration has something to do with it.
Because of their pragmatic nature. And unlike other neighbouring countries they didn’t allowed to be completely overrun by the 3th word Islamic colonisation, l guess..
What we pay in tax, we save in insurances and tuition for our kids and so on. So its swings and carousels
That income tax rate is flawed. The marginal income tax in dk is around 32-35%
Because we work til were dead 69 years pensionage
Denmark's high GDP is largely due to the Danish pharmaceutical industry
Not really it got more service sectors which contribute.
It has many sectors. Didn't you watch the video? Mærsk, lego, vestas and many many more.
Yes exactly. Denmark is not as rich as people assume.
@Matty94 both in terms of GDP per capita and GDP per capita PPP (Purchasing Power Parity) Denmark is repsectively ranked 9 and 11.
So I think it's pretty safe to assume Denmark is very rich , especially compared to our seize.
We even rank 37 in total in the world with a population below 6 mil. That's the same GDP as Malaysia has with 42mil at rank 36.
@@Matty94we are rich it’s just that your clearly not looking at our size if Denmark was as big as a lot of other European countries we would vastly outperform most countries. And if you think the reason we aren’t that rich is because of the gdp per capita thing just know the USA has a boat load of billionaires we don’t so theirs is obviously higher
The killer app for all the Nordic countries seems to be strong social cohesion, a business-friendly economy, and high taxes/benefits.
Strong social cohesion leads to an efficient and corruption-free government as well as high levels of inter-personal trust and low crime. A business-friendly economy leads to high investment and low unemployment. High taxes and benefits leads to good education and health care as well as well-maintained infrastructure.
Too bad they shot themselves in the foot by letting in huge numbers of poorly educated migrants that destroyed social cohesion and drained the welfare system. Luckily they seem to have learned their lesson and are putting the brakes on immigration. They would also be wise to steer clear of divisive identity politics which obliterates social cohesion by dividing the population into competing groups.
I totally agree. I don't understand why it isn't obvious that unfettered migration from non European countries will cause a break down of social cohesion and basically have a trickle down effect on all aspects of life. We see it in almost every single country with high levels of immigration of people with a different set of cultural standards and beliefs. A real pity no country has the initiative to tackle the issue head on. Germany, France, Spain, Italy, UK, parts of Sweden. Almost single handedly ruined in a single generation.
sigh People are so obsessed with blaming migrants for everything. We've had a lot of migrants in Ireland too but it's poor government policy that's hurt us.
@@EuropeanQoheleth I agree that poor government can cripple a country, even when everything else is done right.
But unfortunately migrants can be a real problem if done wrong, and to deny this is wilful blindness. The issue isn't migration per se, but the type of migrant you can get. Carefully selected migrants that are well-educated and culturally similar to the host country can be a massive asset. But accepting poorly educated migrants who have completely different cultural values is asking for trouble.
as a dane NOTHING IS FREE
DK has plenty of oil and also gas an industry that employs many people, where does this guy get his information?
MISUNDERSTANDINGS CORRECTION
Minimum salary pr hour is very high compared to USA. its 22$ in DK and 7.25 in US.
Personal pre tax deduction and driving decuction means that you have lots of money after tax.
When we have payed our taxes we have 12-14$ (on minimum wage) and all the benefits - FREE healtcare, its cost 0 $ to call an ambulance, 0$ to visis a doctor,
0$ if you break a leg, 0@ if you get cancer and so on.
We have free schools, free university
We even GET PAYD to educate outselves ---> yes we get payd 🙂
USA have 7.25 and still havent payd tax or healthcare insurance yet...
And no we are NOT socialist either, we have parlementaric democracy in DK 👌
LEGO Industry ? Trust in the government, no corruption, educated population (Portugal is the opposite).
Vi bare bedre
Give danish civil servants the keys of Europe
Rather misleading picture - needs some treatment of overall fiscal balance and flows, corporate tax, and transfers from EU accounts.
as a dane u really can just be a simple bus driver or any other average income job and still afford a house a decent car and still save up some money for other things like investing in stocks or whatever u really enjoy if of course u live by a budget and dont overspend on stupid flashy stuff
our country is great but it only functions as long as the money input is greater than the money output to the gouverment and right now we are over spending compared to what we put in so for how long this model will work is still questonable to be honest.
things will definetly change over the next 20 years and not for the better of the average joe earning 50-100k$
You can only afford a house on a bus drivers salary if you buy a house in Lolland Falster, Langeland or some regions of western Jutland.
The average bus-driver in Denmark makes 28.000 Kroner pro month before tax, Then we have tax on labor plus workforce contribution and that new tax we got to pay for men going on maternity leave, then he is left with roughly half = 14.000 Kroner, Food is expensive and has a vat of 25% but if he is single, does not have kids and lives frugal he can get off with 6.000 kroner pro month (2021 estimate this is before inflation it is much more today) leaving him with 8000 kroner, Then there is water, heating, sewer and electricity which is also heavily taxed. He will have to cook with his frugal life style so electricity will be at least 700 kroner pro month, Then there is water which is more expensive because it also got sewer and another tax in it. but lets be generous and say he only expends 1400 kroner each month for those. Thus he is left with 6600 kroner to pay off the house each month if he lives frugal raises no kids, has no partner nor pets and never goes on holiday. that is 79.000 Kroner each year to pay off a house loan. So if he want to pay off a house in 10 years it must not cost more than 790.000 Kroner! this severely limits where he can live Remember we did not count a car nor public transport into this so he is left with the option of cycling or walking to the bus depo. Lets say he got 20 years of frugal life to pay off the house, then it is allowed to cost 1.580.000 kroner. Which puts him in the outskirts of some Danish towns and cities but not in the outskirts of Copenhagen nor Odense or Aarhus.
What you are claiming would perhaps be true some 30 - 40 years ago.
@@SohaveI had similar discussions with other people. Copenhagen prices are inflated, and is not comparable to "Denmark". You can't expect to live inside Copenhagen in a house if you don't have a very good salary. It's basically the same in every capital in the world.
@@Stefus87 It is not just Copenhagen you cant pay off a house in Roskilde, Helsingør Odense, Aarhus, Aalborg, Svendborg, Middelfart and many others with a normal salary. The situation in the Danish housing market is more comparable to Ireland, You can still get cheap housing in the suburbs of Berlin.
@@Sohave nu er jeg selv buschauffør, jeg har 21000kr udbetalt hver måned plus fritvalgs opsparing som bliver 32000 kr som bliver ubetalt 2 gange om året oveni altså 16000 kr før skat hver juni og december. husk ens løn der bliver udbetalt er også betinget af ens individuelle fradrag ancinitet og chauffør uddannelse aktier og overarbejde
lad os sige jeg har faste udgifter for omkring 8000 kr det er husleje billån el regning varme regning forsikring osv. så sætter jeg 6000kr til forbrug af mad og benzin om måneden så har jeg 7000kr nu plusser vi så min fritvalgs opsparing oveni lad os sige 1200 det er 8200 kr jeg kan spare op om måneden det er 82000 kr om året så hvis jeg lever efter dette budget i 5 år så er der sparet 400000 kr hvilket er mere end rigeligt til at købe og finansere et hus til omkring 1 million
ingen tal her er overdrevet eller noget men hvis man har lave udgifter og et relativt højt fradrag pga kørsel lån a kasse osv så kan man SAGTENS købe et hus og have en fin bil ved siden af og det her er bare min økonomi hvis man har en partner der bare tjener noget lignene så kan du selv regne resten ud jeg har bestemt ikke 14000 kr udbetalt haha
@@Sohave jeg kan sende et billede af min lønseddel hvor jeg har 21500kr udbetalt altså 36000kr før skat med 9500kr i skattefradrag så din matematik er ikke helt rigtig
Taxes in denmark are not so high as you could think because they don't have social security tax.
Employers only pay gross salary, not mandatory contributions exist
Yes and we also get a lot in return. Like childcare is cheap and we all have a lot of tax deductions too much more, so a lot of the money goes right back to you.
Denmark is literally one of the safest if not the safest place in the world so why the hell should we need to pay tax for that? When there’s no reason to
@@patfre social security is not about security and crime, it's about unemployment benefits and pension retirement benefits and in denmark it works in a different form like other systems with social security taxes
@@miguelusonmoreno6456 I mean those things literally are payed for with the taxes though
The agricultural industri has slowly destroyed the waters around Denmark, has polluted the drinking water and soon insects like Bies will be a rare thing due to chemical toxic misuse.
Yeah , we are certainly rich
Okay. The Danish taxes are too high, and many of the services doesn't work as supposed to. As an example, our Healthcare system has no competition either on numbers of how many survives an illness or prices. So with no competition between hospitals there are many doctors in their late 60's to middel of 70's who doesn't see patients and get up to 400.000 USD/year. We have a police force that simply doesn't care about the constitution and enable to make it possible to do crimes for the politicians. The police shutdown and destroyed a huge number of legal businesses during coronalockdowns.
There is no correlation between high taxes and poverty ..
what about housing?any Danes here to fill us in on the homeless situation there?
It is easier to run a small country, but it is also easy to disrupt. Sweden is a clear example on that.
If Denmark is so good why has it not been overwhelmed by immigrants? Why have all the successful companies not been bought out by richer foreign companies?
Yes and, if the Danes in DK are so good paying all their very high taxes in order to take good care of themselves, why then are they still trafficking children and women worldwide and, why don't they comply with international Law? And, how comes the Danes STILL use nazi "laws" - how many Danes "disappear" every year and, where can we find this in your "statistics"?
Denmark is a 100% Eugenics country, cleansing out her own, every tíme her government is overspending but, maybe this is just part of the "simply so happy" Danish taxation??
And finally, how comes, the majority of Danes moving abroad (the few left who are not killed/disappeared) never come back???
PS This about "trust" - please speak for yourself. I and, thousands others from DK, have never in our lives, met any trustworthy person from/within the Danish authorities - only the opposite!?
And the direct warnings from other countries regarding all of the above? Have these direct warnings been taken out of the blue or, Could there be a LOT of truths in these warnings?
In short, Denmark is not and. Will never be, a place to come back to - especially not for us, who love our lives...
Strict immigration policies and many successful companies are bought out by foreign companies, however the more classical/old successful companies are still either family run or have been put in a foundation which are restricted in how many shares are allowed into public domain eg the foundation will always be the majority shareholder.
1:48 it’s funny how you say euros while Denmark doesn’t use it and then you say compared to the UK and USA neither of which use it either
Just in case title is updated, it says Denmark economy s as of typing
thanks
What... We are??
we might not have oil but we do have gas the germans still have a dept to pay for
Interesting and good perspective. However, there is a lot of untapped potential in Denmark due to waste in the public sector. Also from a cultural perspective, the high proportion of the population employed by the public sector means there is an overall low level of entrepreneurship. Most of Danish businesses succesful at the global stage mentiioned in the video were founded almost a century ago. Very few new businesses make it. I would say the success of Denmark is based largely on the pragmatic approach and social cohesion as mentioned in the video. However, the social coherseion is challenged by recent governments who has broken the law and retroactively fixed it through an act of parliament, abused the judiciary to attack political enemies such as the former head of the security police. The strenghts upon which Denmarks success is built are deteriorating. It will be interesting to see, where the country ranks in 10 to 15 years. I'm not optimistic, but as a Dane, I hope I'm wrong.
The reason why the Danes are so rich is because of the productivity of the Swedish people working there 😀
Or the amount of alcohol you buy here :)
Because it is a niche economy
You can’t do that as a big nation, only in small scale
But increasingly higher tax payers choosing private schools and private health insurance and private age Care services. Higher tax payers get less benefits from welfare.