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Billionaires should not exist. (lemmy.world)

submitted 8 months ago by [email protected] to c/[email protected]

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[–] [email protected] 132 points 8 months ago (24 children)

Wow, this is just entirely wrong. Completely and utterly wrong.

Sweden has a maximum of around 55% income tax bracket if you're in a municipality with high income tax, but billionaires never are and as such would be taxed probably at most 50% income tax bracket.

This is of course entirely irrelevant because billionaires don't make their money on income. Sweden has fairly low capital gains taxes - 30% on regular accounts, and a special account that taxes the whole account value by a low percentage, which shakes out in average years to even lower taxes on capital. This assumes you even keep your capital in the country, which is a big if.

There's also no inheritance tax, no gift tax and no property tax. Sweden is actually an unusually good place to be a billionaire as far as taxation goes, and a below average place to earn a high salary as far as taxation goes.

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