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Hey! In this video we will discover why people in United States earn more than people in European Union. Enjoy!
In many European countries, higher earners pay a much larger portion of their income in taxes, which can reduce their motivation to earn more.
In the U.S., although the tax system is also progressive, the tax rates for high earners are lower. This encourages people to aim for higher earnings and work more hours, as they don't face as high a tax penalty.
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