Word: lundmark
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Dates: during 1970-1979
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Under the Swedish system, workers with average incomes get the most value from their tax kronor. A typical example is Paul Lundmark, who is married and the father of three children, ages 4 to 10. He lives in Orebro, a city of 275,000. Lundmark earns an average blue-collar salary of $6,500 a year by working in a paper mill. He pays more than one-third of this, $2,300, in direct local and national income taxes...
...Lundmark children attend local schools, where the teaching is first-rate. All pupils get their books and daily hot lunches free. At the local clinic, an outpatient visit costs $1.50. A city "social bureau" provides, among other things, "home help" to look after the children in an emergency. The Lundmarks also can use the city's bounteous sports facilities, including a curling hall, two pools, four ice-skating arenas and 20 athletic halls. Like all Swedes, they get a $224 state grant at the birth of each child, and collect an annual $250 allotment until the child reaches...
Particularly for people who earn more than the Lundmark family, income taxes are as steeply progressive as Everest. On a salary of $10,000 a Swede pays 43% of his income in national, local and old-age pension taxes. On $20,000 he pays 53%, and on $40,000 his combined levy is a brutal 63%. Loopholes are almost nonexistent, and deductions are rare. Corporate income taxes, which average 53%, are less severe because, unlike individuals, companies can deduct from their national tax the amount they pay in local taxes. Even so, Sweden's leading business magazine, Veckans...