Quoted By:
NORDCELS FUCKED IN THE ASS BY THE LAFFER CURVE
>Norway's implementation of a wealth tax and subsequent departure of wealthy individuals has sparked a significant loss in revenue.
>The Norwegian Labor Party, after winning the 2021 election, increased the country's wealth tax to 1.1 percent. This move aimed to generate additional revenue but resulted in capital flight and threatened job creation. The wealthy reacted by leaving the country, leading to a substantial decrease in tax revenue.
>In 2022, more than 30 Norwegian billionaires and multimillionaires left the country, including Kjell Inge Røkke, Norway's third richest man. The departure of these individuals has significant financial consequences, estimated at a loss of $54 billion in total fortune.
