Re:Unlike most millennials, Norway's are rich
by sobani on Tuesday July 17, 2018 @10:14AM
(#17549858)
The Netherlands also have it, sort of.
It started of as a 30% capital gains tax, but at some point the government was like: "Math is hard, let's pretend 4% return on capital." and we effectively ended up with a 1.2% wealth tax.
In the last few years they realized that wealthier people have a higher return on capital and the effective wealth tax is more progressive with an effective wealth tax of ~1.6% at the highest bracket.
Re:Unlike most millennials, Norway's are rich
by marvin on Saturday July 14, 2018 @06:48AM
(#17529773)
See also https://news.ycombinator.com/item?id=14828357 for a summary of the most important Norwegian taxes, which I posted elsewhere. Summarized as of last year.
Interesting. That's very much in line with what my experiments showed: just on a computer model of incredibly primitive 'economics', you can use an incredibly tiny wealth tax to redistributive effect. I think you can even ditch a lot of sales, income tax etc. if you're prepared to do a wealth tax. It seems to be very effective but this is the first I've heard of it actually being done anywhere.