The recent wealth tax increase in Norway was expected to bring an additional $146 million in yearly tax revenue, per the Guardian.

Instead, individuals worth $54 billion left the country, leading to a lost $594 million in yearly tax revenue.

(Via Unusual Whales, on X).

My comment: Choose your taxes and tax policy with extreme care and attention to detail.

If you're foolish, you end up hurting your country and your countrymen immensely, in a way you could never repair in ten lifetimes.

#econ #policy