One of the most-taxed societies in the world is now making cuts to its income taxes.
Denmark’s Prime Minister Lars Lokke Rasmussen said people should not be burdened by the country’s taxes and that he believes the best way to decrease the country’s budget deficit is to do away with its “social” nature.
“We want to promote a society in which it is easier to support yourself and your family before you hand over a large share of your income to fund the costs of society,” Rasmussen wrote, as reported by Bloomberg.
Since last year, Denmark has planned to cut the top bracket of income taxes by 5 percentage points and increase the salaries of the lowest paid workers by an average of 7 percent.
Related News: Savings From Aid to Illegals Would Pay for Border Wall
Denmark’s government wants to put more people in the workforce, Bloomberg reports, because it believes higher revenues and lower spending will ultimately fund the new tax cuts.
One of the plans to reach this goal includes increasing the retirement age and encouraging more students to join the workforce faster by offering more student loans as opposed to grants.
“The government has engaged in an ideological crusade away from the Nordic welfare state,” said Benny Engelbrecht, finance spokesman for the Social Democrats.
As the country’s largest opposition party, the Social Democrats are not happy about changing Denmark’s “social” status.
"BUILD THE WALL" bumper stickers now on sale. (BUY NOW)
If you would like to receive Breaking News text alerts on a smartphone or tablet, download the DML APP which is completely FREE and easy to use. Go to the Google Play Store or the IOS App Store and search for DML APP. Be sure to keep the app’s notifications setting on. Another way to receive alerts is to text to 40404 the following message: follow @realdennislynch (be sure to put a space between the word follow and the @ symbol).
To see more stories like this, sign up below for Dennis Michael Lynch’s email newsletter.
Sign up to get breaking news alerts from Dennis Michael Lynch.
Country Launches New Petition for Obama to Be Their Next President