Bravo Peter..my sentiments exactly . The Repukikans would paint all Democrats as Socialists or Communists as their best friends are Putin,Kim Jong Un,Ukranians and Saudi Arabia.......give me a break !
Personal Income Tax Rate in Sweden is expected to be 61.85 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Sweden Personal Income Tax Rate is projected to trend around 61.85 percent in 2020, according to our econometric models.
You should first check your source of information. The marginal (means highest) tax rate in Sweden is 56.4%. That is the tax rate which should apply to the 1% of Americans who "own the country". The average tax rate for most earners is 32% and includes health insurance, and unemployment insurance. If you add the insane health insurance premiums Americans are paying in ADDITION to their income tax, you would end up way more. There is, after all a reason why the US has such a huge poverty rate.
My point was they have all these benefits because they pay for them. I used to work with some Swedish immigrants, they came to Canada because of the high tax rates in Sweden. There words," It was like being punished for earning more."
Of course government provided benefits have to be paid for. However, in a social democracy they are being paid for by the folks who have really high incomes. And that is, unfortunately, not the case in the U.S. I lived in Norway for 25 yrs. and they have a similar system as Sweden. It never was the income tax being extremely high. But they do tax certain luxury consumer goods. The reasoning is that if people can afford those products they can also contribute to the economy. The general idea is to keep essential basic services at an affordable level.As you mention Canada, we have a lot of government services provided for free or at a very reasonable cost. Canada's system is much closed to Scandinavia than the American.
We like to hear from you. You can add your comment here: