Ideas & Opinions — Orion Kroeger: Tax cuts favor high earners

Ideas & Opinions — Orion Kroeger: Tax cuts favor high earners

Congressman Kevin Kiley claims support for Medicare, the VA, and wildfire prevention, yet insists we must also maintain the 2018 tax cuts, despite growing deficits.

Top earners in Finland to benefit from sharp cut in marginal tax rate

Finland’s government will reduce the country’s highest marginal tax rate from nearly 60 percent to 52 percent starting next year. The decision, finalised during the mid-term budget session, will bring an estimated €335 million in relief to the top income group. The changes are part of a broader package of income tax cuts worth nearly €1 billion. Of this, €525 million will go to low- and middle-income earners in 2026, with a further €650 million …

The government decided on almost 350 million euros in tax relief for the highest earners.

Several growth reports in the early 2000s recommended reducing taxes on high-income earners, but until now it has been politically impossible, writes Hanna Mahlamäki, head of the political editorial team.

Reduced income taxation clearly benefits high-income earners the most, according to a calculation from the Swedish Taxpayers' Association.

According to Purra, middle-income earners will benefit "greatly" from the government's tax cuts. The highest income earners will receive the most euros.