Is this satirical?
If it is, well done you could've fooled me with the whole Norwegian perspective.
If it isn't, damn how much of a caricature can you be.
Taxing unrealized gains has caused an entrepreneurial exodus in Norway
41–50 of 150 posts
Re: Taxing unrealized gains has caused an entrepreneurial exodus in Norway
#42Not 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…
I have lived in Norway for a year and it’s definitely not as bright as you’re painting it. Rent prices are extremely high and apartments are quite small compared to other European cities. Alcohol is so expensive, that Norwegians go on alcohol shopping tours to Sweden. Trains in Oslo don’t run 24 hours, so you have to take long detours with busses at night or pay obnoxiously high rates when taking a cab. No, Norway is…
They left because they didn't want to pay taxes. No monkeying about, they want to be rich and tax free.
Re: Taxing unrealized gains has caused an entrepreneurial exodus in Norway
#43easy, 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.
Law != justice.
Else, you won't have the concept of unjust laws.
Re: Taxing unrealized gains has caused an entrepreneurial exodus in Norway
#44Not 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)
It's a good question. If that were the case, I would have expected to also see other oil rich countries at the top of those rankings.
Re: Taxing unrealized gains has caused an entrepreneurial exodus in Norway
#45Not 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…
I have lived in Norway for a year and it’s definitely not as bright as you’re painting it. Rent prices are extremely high and apartments are quite small compared to other European cities. Alcohol is so expensive, that Norwegians go on alcohol shopping tours to Sweden. Trains in Oslo don’t run 24 hours, so you have to take long detours with busses at night or pay obnoxiously high rates when taking a cab. No, Norway is…
Don't forget that Norway banned Life of Brian and people had to travel to Sweden to watch it.
Re: Taxing unrealized gains has caused an entrepreneurial exodus in Norway
#46Earlier quoted context omitted.
I have lived in Norway for a year and it’s definitely not as bright as you’re painting it. Rent prices are extremely high and apartments are quite small compared to other European cities. Alcohol is so expensive, that Norwegians go on alcohol shopping tours to Sweden. Trains in Oslo don’t run 24 hours, so you have to take long detours with busses at night or pay obnoxiously high rates when taking a cab. No, Norway is…
They left because they didn't want to pay taxes. No monkeying about, they want to be rich and tax free.
How do you pay taxes for something that doesn't exist with money you do not have?
Re: Taxing unrealized gains has caused an entrepreneurial exodus in Norway
#47Earlier quoted context omitted.
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,…
> Anybody earning a wage pays tax on revenue, not profit
Not really though. You do have deductions in the US (though limited).
https://www.irs.gov/credits-and-deductions-for-individuals
And lots of places don't tax houses or real estate.
Re: Taxing unrealized gains has caused an entrepreneurial exodus in Norway
#48Not 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…
I have lived in Norway for a year and it’s definitely not as bright as you’re painting it. Rent prices are extremely high and apartments are quite small compared to other European cities. Alcohol is so expensive, that Norwegians go on alcohol shopping tours to Sweden. Trains in Oslo don’t run 24 hours, so you have to take long detours with busses at night or pay obnoxiously high rates when taking a cab. No, Norway is…
He's not "painting" a picture. He's citing statistics. You've countered with an anecdote.
Of course data is not perfect, and there are often issues with methodology, data quality, or analysis the data. Even so, I usually find data more persuasive than anecdotes.
Re: Taxing unrealized gains has caused an entrepreneurial exodus in Norway
#49The 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
Taxing people for going into debt certainly an... interesting idea.
Re: Taxing unrealized gains has caused an entrepreneurial exodus in Norway
#50Norway doesn't care. It is a country with a reputation for good governance and northern-European economic strength. But economically, it is a country that is largely a gas station: like a democratic Russia with more competent governance. Over half its economy is based on oil and mining. It has failed to develop meaningful economic diversification, and, because it has wisely banked so much of the proceeds of its oil (…
Is this tax because the state needs the money or is it social engineering?