Sweden at one point, had marginal income tax rate EXCEEDING 100% for some people.
Look it up. It is very hard to believe, but true. That exceeds communism.
102% income tax rate, people... https://en.wikipedia.org/wiki/Pomperipossa_in_Monismania
Look it up. It is very hard to believe, but true. That exceeds communism.
102% income tax rate, people... https://en.wikipedia.org/wiki/Pomperipossa_in_Monismania
They've been reversing their welfare programs and are rated highly on the economic freedom index.
Taxes are still high to pay for the welfare programs, but as they are reformed I'd assume the government will lower them.
Even so, America once had a 70% income tax, that didn't make us socialist, though it made us economically weak (thanks for the cuts Reagan, you saved us) .
https://fee.org/articles/is-sweden-socialist-no-but/
> Between 1870 and 1950, Sweden had the highest per capita income growth in the world and became one of the richest countries, behind only Switzerland, the U.S., and Denmark.
> In the 1960s, Sweden started to redistribute wealth, which brought wealth creation to a halt.
> By the mid-1990s, the country had growing economic problems because it continued to redistribute wealth it wasn’t creating.
> In 1994, Sweden began implementing the following measures designed to reverse this trend - Reduce Regulation - Reduce Government Spending - Reform their Welfare Programs - Shrink their Government
tldr: socialism is like crack, you only need to try it once and it'll destroy your life/country.