“this was in about 1979....hmmmm....wonder what Sweden’s tax rate is now....??? “
Round about that time in the UK, the top rate was similar, and the Thatcher govt progressively brought it down to to 40% where it stayed until this year.
People are always saying they’re paying too much tax over here as well. Let’s compare with 50 years ago...
http://www.portfolio.com/interactive-features/2008/03/Tax-Brackets
Most interesting is the income required to be taxed at top rate. In 1917 it was $32.9 million. In 1991 Bush 41 not only raised the top rate but lowered the qualifying income by half to $76,404.
One could define "rich" as anyone qualifying for the top marginal rate which kicked in last year at $350,000.
yitbos