Prices in the US don't include sales tax (VAT). In the UK they do. Take the new iPad for example. $499, add 20% UK VAT ~$599 which at today's rate is ~£385.
The UK price for the same iPad is £399. Yes there is a discrepancy, but you're not being ripped off as much as you think you are.
Could also be due to licensing regulations etc etc.
There seem to be a million and one EU directives regarding different levies placed on tech. For example if something can record more than 30 seconds of video I believe it's classed in a separate category and carries with it hefty levies.
It seems wonderful compared to Brazil, where $599 is "converted" to R$1.549,00 ($766), even if there is a Foxconn factory here now. It makes no sense at all.
The UK price for the same iPad is £399. Yes there is a discrepancy, but you're not being ripped off as much as you think you are.
Unless you buy an Apple TV, that is.