3 ms·
Did you take the article to mean that everyone in Sweden pays 70%?
by charlesism 8y ago
Did you take the article to mean that everyone in Sweden pays 70%?
- rayiner 8y agoBy comparison, yes. Sweden's top tax bracket kicks in at just 1.5x the average income. The 69% tax bracket kicked in at $38,000 in 1955, about 8x the average income. As the article I linked to explains, deductions were much more extensive back then too. The result is that the average tax rate on say the 1% has actually not dropped that much: https://almostclassical.blogspot.com/2011/03/90-tax-rate-myth.html https://almostclassical.blogspot.com/2011/03/90-tax-rate-myt.... It was 40-45% in the 1950s and 1960s, and has fluctuated between 30-40% since the late 1980s.