{"id":11064,"date":"2023-06-29T13:20:27","date_gmt":"2023-06-29T13:20:27","guid":{"rendered":"http:\/\/lonecandle.com\/?p=11064"},"modified":"2023-06-29T13:20:27","modified_gmt":"2023-06-29T13:20:27","slug":"wealth-taxes-result-in-rich-people-fleeing-turns-out","status":"publish","type":"post","link":"https:\/\/lonecandle.com\/?p=11064","title":{"rendered":"Wealth Taxes Result in Rich People Fleeing, Turns Out"},"content":{"rendered":"\n

\n\n“If your net wealth is approximately $135,000 or more and you live in Norway, you’ve long been subject to a 0.85 percent wealth tax<\/a>. That rate has, as of this year<\/a>, been hiked to 1.1 percent by the center-left government, and even more gobs of cash will be taken from rich people worth roughly $1.8 million, who will be taxed at a rate of 1.3 percent.<\/p>\n\n\n\n

Unfortunately for the Norwegian lefties\u2014and their American<\/a> counterparts<\/a> who argue<\/a> for similar<\/a> taxes<\/a> to be instituted here\u2014this wealth tax hasn’t really generated the revenue they’d expected. It has instead resulted in rich people boarding their superyachts and leaving those fjords behind forevermore.<\/p>\n\n\n\n

Per the Norwegian newspaper Dagens N\u00e6ringsliv<\/em>,30 of the country’s multimillionaires and billionaires left the country last year in advance of the wealth tax hike. “This was more than the total number of super-rich people who left the country during the previous 13 years, it added,” noted<\/a> The Guardian.<\/em> “Even more super-rich individuals are expected to leave this year because of the increase in wealth tax in November, costing the government tens of millions in lost tax receipts.””<\/p>\n\n\n\n

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Wealth Taxes Result in Rich People Fleeing, Turns Out<\/a><\/blockquote>