🔗 Super-rich abandoning Norway at record rate as wealth tax rises slightly. - @odd - what is your take? Should we care?
🔗 Super-rich abandoning Norway at record rate as wealth tax rises slightly. - @odd - what is your take? Should we care?
Odd-Egil “Oddzthrash” Auran I’m not sure, but I don’t think so. Taxation on the wealthy is already so minimal, so while the income will have to be found elsewhere, the increase for the non-wealthy won’t be so high, because there are so many in comparison, besides not everyone is leaving. Worst case, they move to Aotearoa New Zealand!
I couldn’t find a table that separated taxation on income and wealth, but this shows the main figures.
Paul Craig @pimoore @johnphilpin @odd Posed this question the other day to several individuals and the responses were wild in their variance. Exactly how much in annual income qualifies as “wealthy?”
I already know I’m not. Please humor me.
Odd-Egil “Oddzthrash” Auran @paulcraig901 It’s very subjective of course. The article referred to, was in The Guardian, a British publication, and it talked about billionaires, and I assume, (without going back to check), it was in either NOK or GBP, which makes it either more than 1 billion NOK, or more than 10 billion NOK. I’d consider that wealthy regardless. One way to think about wealthy is to raise the question: Could you live the rest of your life relatively comfortably on what you already have? That of course is subjective too.
💬 John Philpin @paulcraig901 I would never measure ‘wealth’ in terms of income … that’s one of the problems of the taxation system that has been emerging over the last half century.
💬 John Philpin 1) Wealth is relative and
2) There is nothing wrong with having a lot of money … if it arrives fairly.
Next problem … define ‘fair’.
Odd-Egil “Oddzthrash” Auran I think if you study hard and then work hard, it’s only fair that you get some extra for that, but also, not everyone has the same ability or socioeconomic background that makes them able to do so, and they shall not just be forgotten either. + the ones that get grinded down through work or illness. And what Peter says.
💬 John Philpin @odd do not disagree … at all … with you or pete … but it’s a big subject and even a long post won’t get to the nub of the issue … which is … people!
Odd-Egil “Oddzthrash” Auran Yes, people are the worst. (Also some of the best, depending).
