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 ↓)
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So what was the plan here? They were going to access everyone’s net worth and it’s over a certain amount you get an extra percentage tacked onto your taxes at the end of the year?
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Taxing assets at rest is so hilarious like congrats on your good year, too bad it won't last
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