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.
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.