Saturday, November 15, 2025

Wealth Tax Unchains a Capital Exodus

The recent wealth tax increase in Norway was expected to bring an additional $146M in yearly tax revenue. Instead, individuals worth $54B left the country, leading to a lost $594M in yearly wealth tax revenue. A net decrease of $448M+ "

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That didn't go as planned.

Comments

Well well, look who's licking all the oligarch ass...

#1 | Posted by LegallyYourDead at 2025-11-15 03:06 PM

In 2023, Norway's total tax revenue was approximately NOK 2,359 billion, which is about USD 230 billion based on current exchange rates. This revenue primarily comes from individual income taxes, corporate taxes, and taxes from the petroleum sector.

So Norway lost 0.2% of its tax revenue to help it continue with its egalitarian system that provides universal health care, free college, a social safety network, including subsidized childcare and housing, 1 month of paid vacation a year for all workers, etc.

Those foolish Norwegians! If only they could enjoy the capitalist paradise that is the United States, where many of us work until the day we die and hope we don't get sick before then.

#2 | Posted by censored at 2025-11-15 03:38 PM

Also, hilarious that the self-professed Bernie Bro, OneIronTurd, is opposed to higher taxes on billionaires.

Almost like he's a lying paid Russian Troll.

#3 | Posted by censored at 2025-11-15 03:40 PM

At least he'$ Not a Murder loving Bigot.

#4 | Posted by Effeteposer at 2025-11-15 05:25 PM

Wait, you mean rich people are pieces of s*&^ who take take take take take and will leave once they're expected to give back?

Get outta here!

#5 | Posted by jpw at 2025-11-15 06:03 PM

@#5 ... Wait, you mean rich people are pieces of s*&^ who take take take take take and will leave once they're expected to give back?

Get outta here! ...

I know, the rich people seem to be proving that point.


#6 | Posted by LampLighter at 2025-11-15 06:07 PM

"CitizenX" (the authors of this story) help individuals with citizenship through investment programs, "allowing" them to acquire a second citizenship through financial contribution to a country.

Purpose:
To provide a streamlined and secure platform for individuals to pursue citizenship through investment.
To help users diversify their "passport portfolio" and gain the freedom of unrestricted travel.
To create a symbiotic relationship between individuals seeking new citizenships and nations that are open to economic citizenship policies.

So, obviously no skin in the game at all... LOL!

#7 | Posted by YAV at 2025-11-15 06:55 PM

There's no limit to the depth of greed for so many. A billion? Ten's of billions? Hundreds of billions? Trillions in personal wealth? It's NEVER enough!

#8 | Posted by YAV at 2025-11-15 06:57 PM

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