Original Message: Great quote, plus an economics lesson . . .
Norway's Wealth Tax Is Backfiring. Are Americans Paying Attention? The article explains that a lot of "super rich" Norwegians are leaving the country since Norway enacted a "wealth tax." It further explains that this is somehow a surprise to the Norwegian government that their expected tax revenues have actually declined! The included quote is, "As early as the 17th century, Jean-Baptiste Colbert, the finance minister to France’s Louis XIV, observed the delicate nature of taxation. “The art of taxation consists in so plucking the goose as to obtain the largest possible amount of feathers with the smallest possible amount of hissing,” wrote Colbert. Yup. Next, the Norwegian government will be amazed to learn that the Sun rises in the East and water runs downhill. Regards, Russ

Original Message: Great quote, plus an economics lesson . . .

Norway's Wealth Tax Is Backfiring. Are Americans Paying Attention?

The article explains that a lot of "super rich" Norwegians are leaving the country since Norway enacted a "wealth tax." It further explains that this is somehow a surprise to the Norwegian government that their expected tax revenues have actually declined!

The included quote is,

"As early as the 17th century, Jean-Baptiste Colbert, the finance minister to France’s Louis XIV, observed the delicate nature of taxation.

“The art of taxation consists in so plucking the goose as to obtain the largest possible amount of feathers with the smallest possible amount of hissing,” wrote Colbert.

Yup.

Next, the Norwegian government will be amazed to learn that the Sun rises in the East and water runs downhill.

Regards,
Russ

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