AnCaps
ANARCHO-CAPITALISTS
Bitch-Slapping Statists For Fun & Profit Based On The Non-Aggression Principle
 
HomePortalGalleryCalendarFAQRegisterLog in
 

 Idiot: Matt Bruenig - Sweden Has a 70% Tax Rate and Itís Just Fine

View previous topic View next topic Go down 
AuthorMessage
RR Phantom

avatar

Location : Wabbit Hole
Job/hobbies : Cayman Islands Actuary

PostSubject: Idiot: Matt Bruenig - Sweden Has a 70% Tax Rate and Itís Just Fine   Wed Jan 09, 2019 3:21 pm

Alexandria Ocasio-Cortez's suggested 70 percent marginal tax rate has conservatives and centrists freaking out. But Sweden shows that soaking the rich is the smart thing to do.



lexandria Ocasio-Cortez recently suggested raising the top tax rate to 70 percent in order to raise money to fund climate change investments. Conservatives were dismayed by the proposal while liberals and leftists generally defended the proposal by pointing to the fact that top tax rates in the United States were once 91 percent and by pointing to tax scholarship that says rates that high (or even higher) are optimal.

One thing missing from the discussion so far is the point that a 70 percent top tax rate exists, not merely in mid-century US tax codes or in academic papers, but also in the real world right now. Sweden has a 70 percent marginal tax rate and it kicks in, not at $10 million like AOC proposes, but at around $98,000. AOCís proposal is quite modest by comparison.

According to the OECD, single Swedish workers making over 867,000 SEK (around $98,000 at prevailing exchange rates) face a 70 percent overall marginal tax rate on all labor compensation earned above that threshold. The below graph decomposes this overall marginal rate into its three parts and shows how much is left for take home pay:

https://www.jacobinmag.com/2019/01/ocasio-cortez-taxes-rich-sweden?fbclid=IwAR3D3kSmIntyL8hOz7DJMHhRyzq1WQIRRuSMrqjebAWs9q0c6a20NplAv9g
_________________
Anarcho Capitalists Retail , Molyneux Cult Watch Souvenir Mall , OZschwitz Downunder BoutiqueAnarcho-Capitalists,AnCaps Forum,Anti-State,Anti-Statist,Inalienable Rights Defenders,Non-Aggression Principle,Non-Initiation of Force Principle,Rothbardians,Anarchist,Capitalist,objectivism,Ayn Rand,Anarcho-Capitalism,Anarcho-Capitalist,politics,libertarianism,Ancap Forum,Anarchist Forum,Vulgar Libertarians,Hippies of The Right,Forum for Anarcho-Capitalist,Forum for Anarcho-Capitalists,Forum for AnCap,Forum for AnCaps,Libertarian,Anarcho-Objectivist,Freedom, Laissez Faire, Free Trade, Black Market, Randroid, Randroids, Rothbardian, AynArchist, Anarcho-Capitalist Forum, Anarchism, Anarchy, Free Market Anarchism, Free Market Anarchy, Market Anarchy
Back to top Go down
 

Idiot: Matt Bruenig - Sweden Has a 70% Tax Rate and Itís Just Fine

View previous topic View next topic Back to top 
Page 1 of 1

Permissions in this forum:You cannot reply to topics in this forum
 :: Anarcho-Capitalist Non-Miscellaneous :: According To AnCaps, The Idiot Of The Week Award Nominees Are...-