Taxing the Rich- Has it ever happened?

[Jimmy Todd]

The newly elected mayor of New York City says if he can't tax the rich he will have to tax the middle-class. My question is has any political leader of a major city or country ever successfully ever "taxed the rich"? It always seems they may say that, but the members of the middle class are the ones who always ended up paying more taxes.

 

[Frank Underwood]

Good question. It seems every time a politician campaigns on taxing the wealthy, they end up backtracking once they're elected.

All these feckless "leaders" pretty much tells you who holds the real power.

 

[Jock Ewing Fan]

"...Sweden has one of the world’s highest ratios of dollar billionaires, and is home to numerous “unicorn” startup companies worth at least $1 billion (£742 million), including the payment platform Klarna and audio streaming service Spotify.

The abolition of the wealth tax (förmögenhetsskatten) 20 years ago is part of this story – along with, in the same year, the introduction of generous tax deductions for housework and home improvement projects. Two decades on, the number of Swedish homes that employ cleaners is one marker of it being an increasingly two-tier country."

Sweden abolished its wealth tax 20 years ago. Then it became a 'paradise for the super-rich' | Fortune

Now, Sweden has one of the world’s highest ratios of dollar billionaires, and it has many “unicorn” startup companies worth at least $1 billion.

fortune.com