Not So Wel-Fare
Fox News
There are big changes coming in the Swedish welfare state — which for the last half-century has offered cradle-to-grave benefits in exchange for the highest taxes in the Western world. Thursday the parliament approved a plan to cut unemployment benefits, increase the fees workers pay for unemployment insurance, and slash personal taxes — all in an effort to get more people working. Experts say 20 percent —- one out of every five — working-age Swedes live on some kind of state subsidy.
The landmark legislation comes after an election victory by center-right candidates. The labor unions are furious and thousands of people have taken to the streets in protest. One Stockholm businessman tells Bloomberg.com "Sweden is the only country in the world where people are scared of tax cuts."
There are big changes coming in the Swedish welfare state — which for the last half-century has offered cradle-to-grave benefits in exchange for the highest taxes in the Western world. Thursday the parliament approved a plan to cut unemployment benefits, increase the fees workers pay for unemployment insurance, and slash personal taxes — all in an effort to get more people working. Experts say 20 percent —- one out of every five — working-age Swedes live on some kind of state subsidy.
The landmark legislation comes after an election victory by center-right candidates. The labor unions are furious and thousands of people have taken to the streets in protest. One Stockholm businessman tells Bloomberg.com "Sweden is the only country in the world where people are scared of tax cuts."
posted by Andy W. Rogers | 11:43 AM
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