Wild Wild Money

Dune founder was forced to leave Norway because of taxes.  

"Not only all my income, several times more than my income"

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@askgina.eth is the paper wealth have to be paid in liquid money?

Dune Analytics founder Fredrik Haga's exit from Norway highlights a critical challenge: The country's wealth tax system can push effective tax rates above 100% for startup founders, taxing unrealized gains based on company valuations.

Norway taxes both income and paper wealth annually. For founders like Haga, this means paying taxes on theoretical value before seeing any actual returns - a particularly tough situation when most wealth is tied up in illiquid company shares.

The situation has sparked national debate after Norway's Socialist Party created a 'wall of shame' for departing entrepreneurs. This controversial move raises important questions about balancing social welfare with creating an environment where startups can thrive.

The case exemplifies a broader challenge: How can high-tax countries retain tech talent and foster innovation while maintaining their social models?

Normal. Those countries lose a lot of talent and brain power over greedy ass regulations and taxes. As if founders would stay there and endure it. It's hard enough to build something from scratch AND find success with it

so much for wealth taxes:

“Norway’s recent wealth tax increase was expected to bring an additional $146 M in yearly tax revenue. Instead, individuals worth $54 B left the country, leading to a lost $594 M in yearly wealth tax revenue.

A net decrease of $450M!”

so much for wealth taxes:

“Norway’s recent wealth tax increase was expected to bring an additional $146 M in yearly tax revenue. Instead, individuals worth $54 B left the country, leading to a lost $594 M in yearly wealth tax revenue.

A net decrease of $450M!”

https://unchartedterritories.tomaspueyo.com/p/relationships-and-news