Posted inClass warfare,Norway,Wealth Tax, taggedClass warfare,Norway,Wealth Taxon September 10, 2023|3 Comments » Wealth taxationis one of themost self-destructive policiesthat politicians can impose on a nation. Such laws directly divert existing capital from the private sector and discourage the...
In 2022, when Norway increased its wealth tax on residents with assets above 20 million Norwegian kroner ($1.8 million), many flocked to Switzerland. Entrepreneur Tord Kolstad was one of approximately 70 super-wealthy Norwegians who made the move in 2023. "They doubled this taxation from o...
Only fourOrganisation for Economic Co-operation and Development (OECD)countries currently levy a net wealth tax: France, Norway, Spain, and Switzerland.2In the early 1990s, 12 countries reportedly imposed a wealth tax, indicating that the popularity of this form of taxation is diminishing.3 In 2...
The Government Pension Fund Global (GPFG) of Norway, the world's largest sovereign wealth fund, increased its equity investments in Malaysia by the end of June, compared to the close of 2023, The Edge Malaysia reported. This change aligns with the fund’s overall growth in asset size and ...
Remember, the overall goal here is to tax unproductive money; to reduce wealth appropriation and rent-seeking. One solution is what Norway did in taxing it’s oil-rich land in the North Sea. Taxing unproductive money Monopoly is a ruthless game that tears families apart. There’s nothing ...
Norway counts the cost of its new wealth tax as billionaires flee to Switzerland Charlotte Gifford – The Telegraph“A difficult choice has been made. I’ve moved from Asker, Norway, to Lugano in Switzerland,” Norway’s biggest taxpayer, and the largest shareholder of investment firm Aker ASA...
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Americans increasingly favor a wealth tax on the ultra-rich. But despite an uptick in proposals, these policies have struggled to gain traction. PresidentJoe Bidenin March unveiled the latestfederal wealth tax proposalas part of his2023 budget, aiming to reduce the deficit by roughly $360 billion...
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9Norway$382,575 10Canada$375,800 Switzerland ranks first overall, with average wealth per adult increasing from $685,226 in 2022 to $709,612 in 2023. As we can see, many of the most affluent nations are small countries with thrivingfinancial sectors, including Luxembourg and Singapore. These...