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Evidence that wealth tax doesn't work

Fred Cryton · 2023-04-10 19:37:27

More wealthy people left Norway last year than in the previous 13 years combined due to imposition of wealth tax. Rather than raising revenue, it is costing the Norwegian state tens of millions in lost tax receipts. Can this end the argument for once and for all about the merits of a wealth tax? Just imagine the damage SF…

Comments

#52 11-04-2023 4:13pm

quokula

Registered Users, Registered Users 2 Posts: 3,753 ✭✭✭

Join Date: December 2015

Posts: 3715

https://www.boards.ie/discussion/comment/120465752#Comment_120465752

I did find some of the examples in the guardian article crazy.
Moving half way across a continent to a place away from your family and friends, where they speak a different language, in order to escape a tax that would basically take your net worth down from 1,500,000,000 to 1,494,000,000.
The article says around 30 people have left the country, and mentions it cost them tax revenue but it wasn't totally clear whether or not this is more than offset by the presumably hundreds of others who have remained in the country and paid the increased tax.

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#53 13-04-2023 8:49am

Jim2007

Moderators, Business & Finance Moderators Posts: 10,613 Mod ✭✭✭✭

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Posts: 10421

https://www.boards.ie/discussion/comment/120465011#Comment_120465011

Give over. Go find a better excuse for your SF hobby horse. You are way out of your depth on this one.

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