Last week Sweden’s Prime Minister Fredrik Reinfeldt announced that the government intends to cut their corporate tax rate, which he called “probably the most damaging tax of all,” down to 22 percent.
That’s welfare state, high tax, big spending Sweden. Cutting their corporate tax rate to 22 percent-13 percentage points lower than the U.S. rate of 35 percent, which is now the highest in the developed world.
And for Sweden, this follows a previous cut in their corporate rate from 28 percent down to 26.3 percent in 2009.
Sweden gets it. We don’t.
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