Is there similar information on absolute numbers of taxes (including the wealth tax)?
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Replying to @pmazurin
Hypothetical return on wealth is taxed as income, so included in the income tax numbers https://www.cbs.nl/nl-nl/nieuws/2019/46/belasting-en-premiedruk-huishoudens-in-2018-niet-hoger … I haven’t found a version yet that includes the mortgage interest deduction. Overall, the Netherlands doesn’t tax capital very much though https://www.cbs.nl/nl-nl/nieuws/2015/28/nederland-heft-relatief-veel-belasting-op-arbeid-weinig-op-kapitaal …pic.twitter.com/hVSyn6U9rm
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Replying to @thijsniks @pmazurin
And top 5% in income pays about 20% of total taxes, though unclear if they account for subsidieshttps://www.nrc.nl/nieuws/2012/01/23/de-vijf-procent-hoogste-inkomens-betaalt-tweederde-12155603-a1061198 …
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Replying to @thijsniks
Not sure what the “mortgage subsidies” are your tweet - is that the %% of the interest that mortgage payers are getting back every month/year? If yes - for me it’s been a negligible amount, comparing to the tax I’m paying…
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Replying to @pmazurin
Yes, mortgage interest deduction. Perhaps negligible for you (congrats!), but a gigantic subsidy at the population level
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Replying to @thijsniks
It’s not my achievement - the mortgage interest rates are very low nowadays
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Anyway, my point is that I don’t think a lot of people from top 10-20% income would notice if this subsidy would be removed. Although there might be nuances I’m not aware of
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Replying to @pmazurin
Average mortgage interest deduction for the top 10% of income was about €510 per month in 2014, compared to paying €3910 in income tax. So it probably dropped their effective tax rate from 50% to 45% https://www.cbs.nl/nl-nl/nieuws/2015/43/belastingvoordeel-woningbezit-is-280-euro-per-maand …pic.twitter.com/xESCmDaILs
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Replying to @thijsniks
Well, 2014 is not a great year to compare - mortgage interest rates were ~5%, comparing to ~1.2-1.4% now.
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Replying to @pmazurin
Mortgage interest was about 2% in 2014 https://www.hypotheek-rentetarieven.nl/hypotheekrente/historie …pic.twitter.com/fiVoBkfc74
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Replying to @thijsniks
A friend of mine bought an apartment in 2013 or 2014. His interest rate was 4.9 (although 10yr fix). Not sure how accurate this graph is.
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The 10 year rate was a bit higher, but fixed rates should be a smaller share of the overall deductionpic.twitter.com/tS95JllYq7
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