Payday Loans – The Progression of Consumer Debt in Scandinavia

Scandinavia has often been viewed by some as a model for economic success. With its high quality and low cost healthcare, high gender equality, and lower income inequality there is certainly a lot to admire.

However, there is an underlying problem beneath this economic facade of success. This problem is the large amount of consumer debt (such as payday loans) that households in Scandinavia hold, and this debt is progressively growing larger.

So, why is consumer debt increasing in Scandinavia? Here are 3 reasons why

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Taxing the Rich – The Pros and Cons of A Progressive Tax System

You have probably heard the saying “nothing is certain in this life, except death and taxes”. The statement certainly has truth attached to it.

In this day and age, taxes are a fact of life and are a necessary part of a functioning economy. Without taxes governments are unable to be run.

If there were no taxes then:

  • Employees would not be able to be hired for public programs.
  • Infrastructure such as water systems, roads, public transportation and parks would not be built or well maintained.
  • Programs such as Social Security, Medicare, and Medicaid would not be possible

The type of taxation system that the United States, and many other countries also utilize is called a progressive tax system.

Continue reading » Taxing the Rich – The Pros and Cons of A Progressive Tax System