Higher Taxes Sweden’s Only Option?
Higher and more fairly divided taxes are Sweden’s way out of the financial crisis – at least according to the Social Democrats.
In an article in Swedish newspaper Dagens Nyheter on Friday, Mona Sahlin, the leader of the Social Democrats and Thomas Östros, the party’s economic spokesman, presented three proposals on how to make Swedish taxes more fairly divided.
According to Sahlin and Östros, the brunt of the crisis is being carried by those with less money, while those in a better financial position might not feel it at all. In order for the responsibility to be shared by all, the Social Democrats are calling for a return of the wealth tax, abolished by the current government in 2007. They also want taxes for high income earners to be raised and to increase taxation on properties worth over 6.2 million US Dollars.
The estimated revenue generated from these changes is over 600 million dollars.