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Bernie, answer this question: What will be the marginal tax rate on someone making $70,000 a year?
Don't hide behind "people making less than $29K will pay no tax." Yeah, it's pretty much the same in Sweden too. But everyone making above ~$50K there pays a flat tax of ~60%.
Don't hide behind "people making less than $29K will pay no tax." Yeah, it's pretty much the same in Sweden too. But everyone making above ~$50K there pays a flat tax of ~60%.
The Personal Income Tax Rate in Sweden stands at 57.20%. Personal Income Tax Rate in Sweden averaged 56.58% from 1995 until 2019, reaching an all time high of 61.40% in 1996 and a record low of 51.50% in 2000.
That's on top of a Sales Tax of 25% and Social Security Rate of 38%.
That's on top of a Sales Tax of 25% and Social Security Rate of 38%.
And Sweden has to spend next to nothing on defense because U.S. takes care of most of it. That's what it takes to provide the level of social welfare that Sweden provides. Great that the system works for them, because Swedes trust their govt with two-thirds of their income.
When Americans start trusting their govt enough to hand over half to two-thirds of the U.S. economy to the govt to manage, Americans too might be able to enjoy Universal Health Care and "free education." Bernie would love that. Guess how many of the rest of us would?
