Are you sure you want to delete this post?
Fareed Zakaria, Washington Post: Bernie Sanders’s Scandinavian fantasy
Bernie Sanders time and again points to countries such as Denmark, Sweden and Norway as examples of economic systems he wants to emulate in the United States. Sanders continually knocks the "billionaires"-- they should not exist. As Zakaria points out, however,
"Sweden and Norway both have more billionaires per capita than the United States — Sweden almost twice as many. Not only that, these billionaires are able to pass on their wealth to their children tax-free. Inheritance taxes in Sweden and Norway are zero, and in Denmark 15 percent. The United States, by contrast, has the fourth-highest estate taxes in the industrialized world at 40 percent."
Furthermore, the Value Added Tax (VAT) of about 25 percent puts much of the tax burden on the poor and middle class. As a result, a "2008 OECD report found that the top 10 percent in the United States pay 45 percent of all income taxes, while the top 10 percent in Denmark pay 26 percent and in Sweden 27 percent. Among wealthy countries, the average is 32 percent. "
"The basic point is worth underlining because the American left seems largely unaware of it, and it has only become more true over the past decade: The United States has a significantly more progressive tax code than Europe, and its top 10 percent pays a vastly greater share of the country’s taxes than their European counterparts."
However, it is classic Bernie to not present the full picture, just like his Medicare for All sell is less than honest. Do the math!