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> What disaster befell Sweden because the IKEA founder left? It's not hard to figure out if you try to think about it in a curious, scientific manner instead o

> What disaster befell Sweden because the IKEA founder left? It's not hard to figure out if you try to think about it in a curious, scientific manner instead of through your ideological glasses. Many wealthy people left and Sweden lost tax income, investments and angered people. To the point where the left-wing parties realized how bad an idea it was. https://iea.org.uk/blog/how-high-tax-sweden-abolished-its-disastrous-inheritance-tax https://iea.org.uk/blog/how-high-tax-sweden-abolished-its-di...

patmcc 6y ago
An annual wealth tax of ~0.5% and a floor of ~$10million is very, very different than an inheritance tax of 30%, to the point that they're not even that comparable. So sure, I agree we shouldn't have a high inheritance tax.
- lazyjones 6y ago
  > An annual wealth tax of ~0.5% and a floor of ~$10million ... is pointless, as it will just drive wealthy people away, into tax evasion schemes etc. while providing only tax income from the stupid. I'm in that bracket and if my country decided to introduce such a tax, I'd be somewhere else in the EU in no time. (still expecting a haircut-like single tax grab of 10% or more from our idiot government because of their ruinous Covid-19 politics though)
  - patmcc 6y ago
    Let's talk rough numbers - I'll assume you have a net worth of $15 million. You'd owe 0.5% on $5 million - $25k a year. That would be significant enough to move countries over? Completely upend your life, move kids out of school, buy/sell a home, etc.? It just doesn't seem reasonable to me.
    - lazyjones 6y ago
      You assume a number that is too close to your floor. Duh, someone with $10.5 million would not care unless he expected his wealth to grow quickly, eh? My taxes under your scheme would be well into six figures, more than it takes to house and feed a upper middle-class family with room to spare. So yes, I'd leave for greener pastures, since my frugal lifestyle shouldn't be punished. By the way, I already paid 25% capital gains tax when I sold my company I'd grown over the years, at the time it was easily 20% of my total wealth.
jahaja 6y ago
Right-wing parties abolishing wealth taxes is not the same as "Sweden realized". It's fascinating how often I hear these kind of arguments. It's as if there have never been right-wing parties in power in Sweden that have adopted, well, right-wing policies.

patmcc 6y ago

An annual wealth tax of ~0.5% and a floor of ~$10million is very, very different than an inheritance tax of 30%, to the point that they're not even that comparable. So sure, I agree we shouldn't have a high inheritance tax.

lazyjones 6y ago
> An annual wealth tax of ~0.5% and a floor of ~$10million ... is pointless, as it will just drive wealthy people away, into tax evasion schemes etc. while providing only tax income from the stupid. I'm in that bracket and if my country decided to introduce such a tax, I'd be somewhere else in the EU in no time. (still expecting a haircut-like single tax grab of 10% or more from our idiot government because of their ruinous Covid-19 politics though)
- patmcc 6y ago
  Let's talk rough numbers - I'll assume you have a net worth of $15 million. You'd owe 0.5% on $5 million - $25k a year. That would be significant enough to move countries over? Completely upend your life, move kids out of school, buy/sell a home, etc.? It just doesn't seem reasonable to me.
  - lazyjones 6y ago
    You assume a number that is too close to your floor. Duh, someone with $10.5 million would not care unless he expected his wealth to grow quickly, eh? My taxes under your scheme would be well into six figures, more than it takes to house and feed a upper middle-class family with room to spare. So yes, I'd leave for greener pastures, since my frugal lifestyle shouldn't be punished. By the way, I already paid 25% capital gains tax when I sold my company I'd grown over the years, at the time it was easily 20% of my total wealth.

jahaja 6y ago

Right-wing parties abolishing wealth taxes is not the same as "Sweden realized". It's fascinating how often I hear these kind of arguments. It's as if there have never been right-wing parties in power in Sweden that have adopted, well, right-wing policies.