Norway's Wealth Tax Pushes Millionaires Abroad but Strengthens Equality - EconoTimes

Contributing sentiments towards policy:

57% : He is one of many high-net-worth individuals relocating as Norway tightens its wealth-tax rules.
55% : Supporters argue the tax is crucial for fairness, helping maintain one of the world's most equal societies while boosting government revenue to 0.6% of GDP.
53% : The current tax imposes 1% on net wealth between 1.76 million and 20.7 million crowns and 1.1% above that, with 12% of the population paying in 2023.
52% : Norway's experience shows that wealth taxes can boost equality and revenue -- but at the cost of losing some of the very entrepreneurs who drive economic growth.
51% : Many Norwegians agree: a recent poll shows 39% support maintaining or raising the tax.
48% : Norway also enforces a steep 37.8% exit tax on unrealised capital gains, and recent reforms closed previous loopholes.
47% : Norway's long-standing wealth tax is reshaping the lives of its richest citizens and sparking global debate.
45% : Critics counter that the levy drains capital, discourages entrepreneurship and pushes founders and heirs overseas before their companies mature.
43% : France scaled back its wealth-tax plan, Britain refuses to introduce one, and Italy is making only modest changes.
41% : Sitting in his lakeside villa in Lucerne, former Norwegian businessman Borger Borgenhaug says leaving his home country -- and the Nordic sea he misses -- was the price of escaping what he views as an increasingly hostile tax environment.
30% : Over a hundred of the country's richest now live abroad, with some featured on a "wall of shame" displayed by the Socialist Left party.

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