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Swedish billionaires

2013-11-08 15:11:30.277137+00 by Dan Lyke 1 comments

Slate: Why Does Sweden Have So Many Billionaires? High taxes and a generous welfare state are no barrier to Nordic riches.. Apparently they have more billionaires per capita than the U.S.

Despite having a high tax rate and being hostile to job creators and all that stuff.

[ related topics: Politics Heinlein Government ]

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#Comment Re: made: 2013-11-08 17:24:07.516368+00 by: Larry Burton

According to the article Sweden actually has a lower tax rate and is welcoming to the job creators. I think this passage might give us a hint:

Even after spending cuts by the current center-right government, the Swedish public sector is still about half the total economy (much higher than here), but the taxes that finance it fall more heavily on consumption and less on business investment than in the U.S.

Over the last couple of years I've become less and less enamored with the legislation being offered up to implement the FairTax but I haven't moved away from believing that financing for government should come from the consumption side rather than the production side and that by taxing business income we are giving the government a way to support one business over another.