https://twitter.com/DellAnnaLuca/status/1662111839977893888
The recent wealth tax increase in Norway was expected to bring an additional $146M in yearly tax revenue
— Luca Dellanna (@DellAnnaLuca) May 26, 2023
Instead, an estimated $54B-worth of ultra-rich left the country, leading to a lost $594M in yearly wealth tax revenue
A net decrease of $448M+
(sources and calculations β)
If you love our People of Means, please join !neolibs
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I fricking love it when foreigners who know nothing of Scandinavia comment on us
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I don't need to visit a country to know that the Laffer curve applies to it.
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MARRY
ME
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Stop simping it's pathetic
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30yearoldfoidattheweddingreception.webp
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norway literally has an economy that is nothing alike any other western country by miles.
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well, yeah, it's more like Venezuela
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yea, defined by their similar diversification
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Demand curves still slope downwards.
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that is not the point. The "passive income" Norway receives from their wealth tax is unimportant... their economic situation is completely useless to modern western economic models, as their economy is so different... Norway owns 2 (TWO) fricking percent of the world's investments.
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Demand curves still slope downwards. Raise taxes on people just for living on Norway and they will leave.
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well, yes an no. While I agree that the implementation might be r slurred, we are not talking taxation on income, which is different in nature. In essence, accumulated money that is not reinvested into society does not hold the same nominal value as investment or earnings.
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Telling people that you've found a better use for their money is not going to stop them from leaving the country lol.
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what I am saying is that the economic theory of loss given withdrawal from the market is founded on the principle that revenue will be reinvested in the financial system. Thus a disincentivization to work and trade due to tax burdens is problematic.
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Norway is basically a European Gulf state.
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DING DING DING
THIS guy gets it
This. Right here.. ^
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I have a baseless belief that the tap water there makes you immortal and nothing is going to change that for me
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Mmm yummy
nordic mountain 
water 
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Is what he's saying wrong
then?
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read my comments in this thread
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Good thing scandis and every other irrelevant nation doesnβt comment on the US.
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I am so much into US drama you wouldn't have thought me a non burger had i not told u...
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He's right though
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no, read my comments in this thread.
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