Hey, Sweden has a 70% tax rate and it’s doing fine

Hey, Sweden has a 70% tax rate and it’s doing fine
YouTube video

[Ed. – It’s “fine” if you agree with the concluding premise: that Sweden is a “country where ordinary people have a higher standard of living than their US peers.”]

One thing missing from the discussion so far is the point that a 70 percent top tax rate exists, not merely in midcentury US tax codes or in academic papers, but also in the real world right now. Sweden has a 70 percent marginal tax rate and it kicks in, not at $10 million like [sic] AOC proposes, but at around $98,000. AOC’s proposal is quite modest by comparison.

According to the OECD, single Swedish workers making over 867,000 SEK (around $98,000 at prevailing exchange rates) face a 70 percent overall marginal tax rate on all labor compensation earned above that threshold.

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