Democrats still cite Sweden as proof socialism works. But the real Sweden survived by rejecting it — abolishing wealth taxes, protecting capital, expanding choice, and becoming a startup powerhouse.
I didn’t know any of this. I don’t spend much time thinking about Sweden three things. I like the best about this that I wish we would adopt here. Universal school choice. No inheritance or gift tax. Lower property taxes.
Personally, I think the ideal tax on income and capital and wealth is zero. But I understand how difficult that would be to implement, because you’d have to replace it with a sales tax, which is highly unpopular, but would be very effective and would not be regressive if done correctly.
Honestly, I don't think we'd need to replace them. Death tax is particularly ideological, not fiscal, in nature, as it literally costs more to collect than it raises in revenue. We don't currently have a wealth tax (which taxes unrealized gains, so it's basically just a slow expropriation), so that's no problem. Eliminating capital gains tax would explode economic activity and thus tax revenue.
That leaves just income. And while I have intricate opinions on how to address that, I don't have time to summarize them in this comment. :)
"That leaves just income. And while I have intricate opinions on how to address that, I don't have time to summarize them in this comment. :)". Ahh! A future column!
👍👍Awesome post, Rod! This should be required reading for every American!🇺🇸
Thank you!
Information I did not know. Thank you.
I didn’t know any of this. I don’t spend much time thinking about Sweden three things. I like the best about this that I wish we would adopt here. Universal school choice. No inheritance or gift tax. Lower property taxes.
Personally, I think the ideal tax on income and capital and wealth is zero. But I understand how difficult that would be to implement, because you’d have to replace it with a sales tax, which is highly unpopular, but would be very effective and would not be regressive if done correctly.
Honestly, I don't think we'd need to replace them. Death tax is particularly ideological, not fiscal, in nature, as it literally costs more to collect than it raises in revenue. We don't currently have a wealth tax (which taxes unrealized gains, so it's basically just a slow expropriation), so that's no problem. Eliminating capital gains tax would explode economic activity and thus tax revenue.
That leaves just income. And while I have intricate opinions on how to address that, I don't have time to summarize them in this comment. :)
"That leaves just income. And while I have intricate opinions on how to address that, I don't have time to summarize them in this comment. :)". Ahh! A future column!