In Norway, Sweden, and Denmark, the top tax rates kick in at just 1.3-1.6x the median income. They all rely heavily on VAT, which is regressive. All have low corporate tax rates, and apart from Denmark, they also have competitive capital gains tax rates.
No. The top 1% pays a greater share of total taxes (state, local, and federal) than it’s share of total income: https://itep.org/who-pays-taxes-in-america-in-2019/
> Short of a few outliers such as some Nordic countries that appear to have figured it out (at least for now), everyone else is in the same boat.
Ironically, the Nordic countries shift more of the overall tax burden to the middle class than the US: https://taxfoundation.org/publications/how-scandinavian-coun...
In Norway, Sweden, and Denmark, the top tax rates kick in at just 1.3-1.6x the median income. They all rely heavily on VAT, which is regressive. All have low corporate tax rates, and apart from Denmark, they also have competitive capital gains tax rates.