How Much in Taxes do People Pay for their Wages?


High taxes may not be such a bad thing. As shown by the latest figures on wage taxation released by the OECD, countries with high taxes also tend to have high net incomes.

Men more likely to 'marry up'

FOX News

"As the number of highly educated women has increased in recent decades, the chances of'marrying up' have increased significantly for men and decreased for women," the study reports. To gather their results, the researchers examined gender-specific changes in financial return on education among people 35-44 years old. The study used U.S. census data from 1990 and 2000 and the 2009-2011 American Community Survey. The study found that women's personal earnings have grown faster than men's earnings, and that women are becoming more educated than men. These "combined facts that husbands are less educated than their wives than before, and the return on earnings for men has stagnated, a husband's contribution to family income has decreased.

Pension savers 'missing out on top-ups'

BBC News

Workers are missing out on pension top-ups from their employers by only saving at a minimum level, research suggests. Many larger firms offer to "match" additional pension saving by their employees, by adding a contribution when workers save more. But insurer Royal London said that many workers were unaware of the option, and failed to take advantage. This could make a difference of hundreds of pounds in retirement income, it said. Despite having to make a number of assumptions in calculations, Royal London has estimated that an estimated £2bn of employer pension contributions would be available if workers took up the option of saving to a maximum rather than minimum level.

Asian economies grow through ADB financing and knowledge

The Japan Times

I would like to welcome you to the 50th annual meeting of the Asian Development Bank. Thank you all for taking the time to join us here in Yokohama. In the ADB's 50-year history, Asia has seen many of its member countries grow from low-income to middle-income nations. Indeed, a few member countries have succeeded in joining the category of high-income countries. The increase in Asian per capita GDP has been accompanied by narrowing income gaps between developing countries in Asia and high-income countries around the world.

Retirement can bring some complex tax questions

Los Angeles Times

Dear Liz: I was in the twilight of my career when the Roth became available, and I contributed the maximum for those few years before retirement. After retirement, I dropped to the 15% tax bracket, so I did Roth conversions of my regular IRA to fill out that tax bracket until I was age 70½. My reasoning was that I would likely be in the 25% tax bracket when I started my required minimum distributions from my IRA, and that turned out to be true.