Money
Sweden's 102 Percent Tax Rate Drove IKEA and H&M Founders Into Exile
Impact Theory
The Sweden Socialists Point To Doesn't Exist — It Collapsed In 1990 | Tom Deepdive
What was said
"She was taxed more than she earned. The founder of IKEA fled Sweden in 1973. The founder of Tetra Pak fled as well, as did the founder of H&M. By the early '80s, Sweden's tax policy had become so onerous that it had driven out the very entrepreneurs who were driving the country's productivity."
The Swedish progressive tax system became so extreme that entrepreneur taxes exceeded 100% of earnings, forcing the founders of IKEA, Tetra Pak, and H&M to flee the country in the 1970s and early 1980s. The exodus of wealth creators set up Sweden's economic collapse in 1993, demonstrating the consequences of excessive taxation on productivity.
Verification status
Attributed speaker claim
Egleze verified who said this and where. The underlying claim has not been independently established by Egleze.
Source and context
Egleze verified who said this and where. The underlying claim has not been independently established by Egleze.
- Programme
- Impact Theory
- Episode
- The Sweden Socialists Point To Doesn't Exist — It Collapsed In 1990 | Tom Deepdive
- Clip time
- 2:52
- Original source
- Watch the source segment →
From this episode
Impact Theory