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Taxing unrealized gains has caused an entrepreneurial exodus in Norway
11–20 of 150 posts
Re: Taxing unrealized gains has caused an entrepreneurial exodus in Norway
#12Holy shit, this blog tries to sell me the the right to highlight text!
This gotta be the most extreme instance of NFT brain I've ever encountered...
Re: Taxing unrealized gains has caused an entrepreneurial exodus in Norway
#13Earlier quoted context omitted.
It's amazing to me that on a startup-oriented forum like this one you see these kinds of socialist comments when it comes to something that is harmful to startup founders and the entire ecosystem. Honestly curious to see what people who are hostile to entrepreneurship are even doing here.
It’s amazing to me that people think this is what socialism is. This isn’t seizing the means of production.
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Re: Taxing unrealized gains has caused an entrepreneurial exodus in Norway
#14The references to Atlas Shrugged and the trains not running on time, and the bit about healthcare costs do not bolster any argument against a tax on unrealized gains, so this comes off more as ideologically motivated bit, rather than than an argument against the specific tax. Taxing unrealized gains is really problematic, as anyone in the startup scene who's been granted stock options in a rising startup in Silicon V…
Taxing unrealized gains in a blanket way is bad but a more targeted threshold, such as taxing them when used in loan arrangements in which someone borrows against their holdings to avoid paying taxes on realizing the gains, seems like it would achieve the spirit of such a tax
Re: Taxing unrealized gains has caused an entrepreneurial exodus in Norway
#15Not surprising that an Atlas Shrugged reading entrepreneur dislikes taxation. But government services cost money, and by other accounts [0] Norway are doing pretty well: Norway performs well in many dimensions of well-being relative to other countries in the Better Life Index. Norway outperforms the average in jobs, work-life balance, education, health, environmental quality, social connections, civic engagement, saf…
Careful, did you pay him the three dollars it costs to quote his text?!
Re: Taxing unrealized gains has caused an entrepreneurial exodus in Norway
#16easy, impose an exit tax. capital doesn't need to be free when it's trying to evade justice. you pay tax on unrealised gains the same way the rest of us do when facing an unexpected bill that we can't afford - you sell your stuff.
You do realise they were taxing the entrepreneurs before their companies made a profit? What sort of "justice" is that?
Anybody earning a wage pays tax on revenue, not profit. Property taxes can be even be on value, not revenue or profit. For any given tax burden, I don't see the "justice" problem by shifting more of that towards value and revenue and less towards profit. You could argue that in a vacuum that it is more just because it slightly incentivized investment over saving. And I'm sure you could argue the reverse too.
However, to me this mostly looks like a practical issue, and the traditional dogma that a broader tax base is a better one likely holds here too. Taxes should be on all three categories, and for both legal and real persons - and thus each specific category lower (and in particular thereby reducing the height of specific niche corners cases such as this one, and also reducing the opportunity to game the system).
Also, it's interesting to listen to anecdotes like this, but caveat lector; the article's author's experience may not be the norm; and the issues they experienced may be due to the specifics of norway's taxation system or their personal choices, not the principles behind it; and last but not least as long as money can flow mostly freely between tax systems it's not enough for a system to be fair and well designed in a vacuum; it also need to consider how shifting wealth/income/profits across borders will affect outcomes.
To my mind, this is all pretty orthogonal to justice. Clearly, you see that differently. Why does this smack of injustice to you?
Re: Taxing unrealized gains has caused an entrepreneurial exodus in Norway
#17Holy shit, this blog tries to sell me the the right to highlight text! This gotta be the most extreme instance of NFT brain I've ever encountered...
You misunderstand. You pay to "collect this highlight to permanently own it", not just highlight it.
Re: Taxing unrealized gains has caused an entrepreneurial exodus in Norway
#18easy, impose an exit tax. capital doesn't need to be free when it's trying to evade justice. you pay tax on unrealised gains the same way the rest of us do when facing an unexpected bill that we can't afford - you sell your stuff.
You do realise they were taxing the entrepreneurs before their companies made a profit? What sort of "justice" is that?
> Norway imposes a wealth tax that taxes unrealized gains at approximately 1% annually. Calculated on the full market value for publicly traded assets and the book value of private companies. On New Year's Eve, whatever your net worth - including illiquid assets - is subject to this tax. It doesn't matter if you're running a loss-making startup with no cash flow, if your investments have tanked after the valuation date, or even if your company has gone bankrupt—you still owe the tax.
"unrealised gains". gains, not losses.
Re: Taxing unrealized gains has caused an entrepreneurial exodus in Norway
#19Earlier quoted context omitted.
It's amazing to me that on a startup-oriented forum like this one you see these kinds of socialist comments when it comes to something that is harmful to startup founders and the entire ecosystem. Honestly curious to see what people who are hostile to entrepreneurship are even doing here.
It’s amazing to me that people think this is what socialism is. This isn’t seizing the means of production.
Wouldn't that be more communism than socialism?
Re: Taxing unrealized gains has caused an entrepreneurial exodus in Norway
#20Not surprising that an Atlas Shrugged reading entrepreneur dislikes taxation. But government services cost money, and by other accounts [0] Norway are doing pretty well: Norway performs well in many dimensions of well-being relative to other countries in the Better Life Index. Norway outperforms the average in jobs, work-life balance, education, health, environmental quality, social connections, civic engagement, saf…
Does Norway perform well in various well-being metrics essentially because Norway is extremely oil rich?
(I don't pretend to know the answer, and ask because I don't see how to figure that out)