Morten N. Støstad
@MortenStostad
An extremely relevant paper, given the renewed concern that wealth taxes lead to massive out-migration:
The Norwegian wealth tax "exodus", discussed in global media, never happened. At most 100 individuals left. Tax revenue increased by +71.5%. No changes in business activity.
The Norwegian wealth tax "exodus", discussed in global media, never happened. At most 100 individuals left. Tax revenue increased by +71.5%. No changes in business activity.
NBER@nberpubs · Oct 8Norway's controversial 2021–2024 reforms nearly doubled the tax on business wealth. Firms of affected owners did not invest less, and outmigration was limited to the very top, from @mariusring nber.org/papers/w35854
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