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)
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Did these people learn nothing from the fr*nch when they tried to do this? This shit doesn't work.
Why are they doing this anyway? Did they run out of oil money already?
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That's your explanation
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Yeah, that's what's puzzling me, if there's one thing Norway is not in dire need of it's public funds.
The answer though is probably just lefty seethe. Rich man evil.
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Norway has a culture that is in opposition to wealth inequality, so the wealth tax is really just about "owning the rich".
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why would rich people do this?
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When you get to a certain level of wealthy people start following pipe dreams. It serves as like an upper limit on development I think.
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