Is progressive taxation fair and economically effective?

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Sweden has a top tax rate of 70% and ranks consistently high on the Global Innovation Index.

Sweden's 70% top tax rate comes into play after c. $98,000 dollars, yet it remains one of the most successful high-income countries in the world.

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Sweden has problems with tax evasion because its tax is so progressive.

The Panama Papers and Paradise Papers revealed that some 400 Swedish companies and people had been keeping money in tax havens to avoid paying tax.

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Progressive taxation incentivizes tax evasion and avoidance.

Some progressive tax structures incur greater total losses to tax evasion and avoidance and its associated costs than regressive tax structures. Tax evasion costs the US roughly $450 billion a year. Russia, which has a flat tax rate, loses roughly $40 billion dollars a year.

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Flat taxation systems are not necessarily better predictors of economic strength than progressive taxation systems.

Latvia, Estonia's neighbour, also adopted a flat tax and emerged as a strong economy after leaving the Soviet Union. But it was one of the worst-hit countries of the global financial crisis, with its economy falling by 10.5% in the last quarter of 2008 alone.

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Countries that have adopted a flat taxation rate have enjoyed significant growth.

Having emerged from the Soviet Union in 1991 and adopted a flat tax policy in 1994, Estonia grew by an annual average of 9% between 2001 and 2007—during which time it was also able to gradually reduce its tax rate.

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1 in 5 Estonians now lives in poverty.

21.1% of the population of Estonia (276,000 people) live in poverty. The country desperately needs progressive taxation policies.

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The tax system of the 1950s had so many loopholes that it created less revenue than periods of less progressive tax.

Tax revenues were 7.7% of GDP in1951-63. But by the end of Reagan's second term as president of the USA, tax revenues were 8.1% of GDP with a top tax rate of 28%. In the 1950s, the rich had plenty of options for avoding tax.

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During one of the strongest periods of economic growth in the USA, the top tax rate was far higher than today's.

The 1950s was a period of economic growth in the USA, where the economy saw an average real GDP growth rate of 4.2% year on year. The top tax bracket was 90%.

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