Here is the NCPA’s summary of a Wall Street Journal article that looks at Sweden’s change of heart on soaking the rich.
But rather than transferring wealth, wealth taxes transfer the
wealthy. In Sweden, tennis star Bj?rn Borg, ABBA’s Bj?rn Ulvaeus and
Ikea founder Ingvar Kamprad are among the mega-rich who have fled the
country, taking their money with them.Getting rid of the wealth
tax is “a step on the way back toward making Sweden an entrepreneurial
country,” says Finance Minister Anders Borg. That’s sound capitalist
advice from the cradle of welfare socialism, says the Journal.
