Re:How Norway spends its $882B global fund
by atheg33 on Thursday September 22, 2016 @04:23AM
(#12555356)
It just seems like if we had of kept the money and re-invested it... like Norway did... that we would have been much better off in the long run.
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Re:How Norway spends its $882B global fund
by gaius on Thursday September 22, 2016 @05:38AM
(#12555658)
We could ask the same question in the UK. Successive governments believed in using the money to lower taxes instead. Whether that was right or wrong no-one can really say - but consider that around the time the North Sea came online, income tax was as high as 83% and tax on income from investments was 98%.
http://www.spectator.co.uk/2008/04/why-hasnt-britain-got-a-s...