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To keep the class system intact. The ultra-wealthy don't pay much more tax (and don't pay property or inheritance tax, and capital gains tax is also lower than
by _vbnz 5y ago
To keep the class system intact. The ultra-wealthy don't pay much more tax (and don't pay property or inheritance tax, and capital gains tax is also lower than income tax (wtf?)). It's a far less progressive country than the marketing would have you believe.
And unfortunately all the political parties are just focussed on giving more money to the boomers or liberalising the housing market, so it won't change any time soon.
- lordnacho 5y agoI think inheritance tax differs across Scandinavia, just a small point really not detracting from your message. In Denmark there's definitely one, Sweden it's none or much lower, not sure.
- ptr 5y agoYou can even chose to pay 0.375% on your assets p/a, instead of the capital gains tax. Pretty good. But you’re exaggerating the income tax situation. ~60% is the marginal tax rate, you only pay that for a part of your income over a certain level.
- sokoloff 5y agoCan you choose year by year? I’d think most years 37.5bps on assets would be way cheaper than capital gains, but in a down year, you might choose to pay capital gains. (Or you could “bunch” realized gains into every other or every third year and take the wealth tax option only that year.)
- ptr 5y agoIt’s a special kind of account, you can sell everything and withdraw the proceeds, then buy new assets outside that account. So you can choose, but not retroactively (unfortunately!)