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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsTax Plan Delivers Economic Miracle in Sweden
by Johan Carlstrom
May 7, 2017, 6:00 AM EDT
High taxes, strong unions and an equal distribution of wealth.
Thats the recipe for success in a globalized world, according to Magdalena Andersson, the Social Democratic economist whos also Swedens finance minister.
The 50-year-old has been raising taxes and spending more on welfare since winning power in 2014. Shes also overseen an economic boom, with Swedish growth rates topping 4 percent early last year, that has turned budget deficits into surpluses ...
The numbers are compelling. Sweden has one of the worlds highest tax burdens, with tax revenue about 43 percent of GDP, according to OECD data. The equivalent figure for the U.S. is about 26 percent. Swedens economy has grown almost twice as fast as Americas, expanding 3.1 percent last year, compared with 1.6 percent in the U.S. ...
https://www.bloomberg.com/politics/articles/2017-05-07/a-reverse-trump-tax-plan-delivers-an-economic-miracle-in-sweden
Rustyeye77
(2,736 posts)Cadfael
(1,299 posts)nt
smirkymonkey
(63,221 posts)tazkcmo
(7,300 posts)But not if it benefits everyone. What's the point of having a great quality of life without some peasant to lord it over?
mitch96
(13,924 posts)If the government pays for social welfare, that the corporations benefit from, why would they not like it? The European and Asian automobile mfg sectors did not have to pay for any medical benefits for their employees. They could then sell the cars for less and still make a tidy profit. American car companies had to pay more so the unions could cover the employee benefits..
It just does not make sense to me.... Unless the corporations just wanted to screw the american workers...
m
roamer65
(36,747 posts)We had the Clinton economic boom.