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US oil production is ~9500k bbl/day. Population is 318M. .030 bbl/day/capita
Denmark oil production is ~160k bbl/day. Population is 5.6M. .029 bbl/day/capita
Oil production per capita in the US and Denmark are virtually identical.
...and the United States is also one of the world's largest oil producers. Have you been to North Dakota recently? Or Texas? Or Alaska? The difference is that DONG (Danish Oil & Natural Gas) is about 80% owned by the government. If you nationalized oil production in the United States and used the profits to fund government spending, the US would also have an enormous amount of extra money.
If you nationalized oil production in the United States and used the profits to fund government spending, the US would also have an enormous amount of extra money.
Or illegal immigrant....I wonder how their system would do with 30 million illegals pouring in accessing those benefits.
How is US policy a critique of Denmark?
Conservative estimates claim that government expenses due to illegal immigration cost about 0.6% of GDP in the US. I don't know what the situation is in Denmark.
It's not. I just felt the need to point out that Denmark is a tiny homogeneous country propped up by a big state-owned oil company. They're the 3rd largest oil producer in Europe with that tiny population. 30% of employment is in the public sector. It works for Denmark today but the clock is ticking. It's not sustainable and they did nothing with the money to establish a viable after-the-oil-runs-out economy. Norway can do it much longer because they piled up sovereign wealth from the oil money rather than spending it as it came in the door.
What happens in a country with a median 50% effective tax rate like Denmark is that the most innovative people who would create that sustainable economy leave. It's the EU so they can go elsewhere in Europe with no barriers. 30 years from now, Denmark is going to be feeling enormous pain.
It's not sustainable and they did nothing with the money to establish a viable after-the-oil-runs-out economy.
Talking about oil supporting Denmark is economically ridiculous. They produce no more per capita than the US, so the issue is one of distribution. Yes, Denmark distributes wealth and income much more than the US. I don't think anyone is surprised by that.
What will the US do when the oil runs out? Denmark is much farther along with alternative energy than the US is.
Quote:
What happens in a country with a median 50% effective tax rate like Denmark is that the most innovative people who would create that sustainable economy leave. It's the EU so they can go elsewhere in Europe with no barriers. 30 years from now, Denmark is going to be feeling enormous pain.
On a median basis, Denmark has been getting richer than the US for the last 40 years. I see zero reason for that to change. Rather it's the average person in the US who will be feeling pain in 30 years.
Conservative estimates claim that government expenses due to illegal immigration cost about 0.6% of GDP in the US. I don't know what the situation is in Denmark.
The US system provides opportunities for Americans of African descent to do better than Africans, Americans of Asian descent do better than Asians in Asia, Caucasians in the USA do better than Caucasians in Europe, and Americans of Mexican descent do better than Mexicans. Fact is, we have it pretty darn good. We still provide more opportunities than anywhere else. If you think you can do better elsewhere, then go.
Things the article and posters on this thread are not taking into consideration.
Income taxes---Denmark hits average income people a lot harder than the U.S. In fact for low income people the Child Tax credit, means no income taxes to pay, and a nice piece of change in addition.
Sales Tax. U.S. is from 0% to as much as 11% in one state (we are one of the 0% states). 25% across the board in Denmark.
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