, Columnist
Sweden's Billionaire Boom Sparks Pandemic Tax Dilemma
Covid-19 inequality needs a response, but there are better options than a broad wealth levy.
Recovery in sight
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Wealthy Swedes were among the first to warn that the pandemic would bring crippling social and economic costs. When Covid-19 struck, industrialist Jacob Wallenberg staunchly opposed draconian lockdowns, fearing devastating unemployment and social unrest.
That chimed with the Swedish government’s relatively hands-off approach to social distancing. The economy and civil liberties were protected, though ultimately at the cost of a higher death toll than neighboring countries, drawing anger from voters and the royal family. The country’s image of being a “moral superpower” was broken.