The left is pushing wealth taxes to the top of their agenda. This article from Reuters tries to make the case that Norway is an example of how wealth taxes can work. Norway is always used as the socialist dream, with all of the social programs that the left loves. What the left ignores is that Norway is not analogous to the US.
For starters, let’s recognize that Norway ranks among the world’s wealthiest thanks to oil, shipping, and fishing. In Norway, the government owns those industries. All of the profits from those industries gets funneled into a government wealth fund, which is in turn invested in companies in other nations, especially the US. However, Norwegian law says that they can only spend 3% of the fund’s $2.1 trillion balance each year. This means they need to find other forms of income to enable them to support the welfare state.
That means a wealth tax on unrealized capital gains. The entire nation is a welfare state, living off of investments made in countries with actual free markets. Since there are no nations that the US could siphon money from, this plan will never work here.
14 Comments
Stefan v. · November 26, 2025 at 1:53 pm
So, if that would not work for you, there, but it does for them, elsewhere….what happens when it collapses there, where you are? Vikings raiding coastal Europe? Or Barbary shitbags raiding Europe, from the north this time? Or within? Whole lot of blood shedding going to happen everywhere, at the same time, soon. If you’re white…you’ll be hemmed up and executed, whitemanbad, especially if you merely defend yourself. If you’re not white….expenses paid and all injuries healed, forever, because notwhite. Multikulti forever! At least until we get back to before Tower of Babel, V1.0. And we all know what that was about. Or do we? No, we want MAGA, Barka lounges and Diet Pepsi, abortions, Superbowl, Band of Brothers, Fonzie, Cheers, Beatles, Aerosmith, China Beach, Glory, Little House on the Prairie, Lindenstrasse, Disco, Techno, Rap, Crap, Schnickschnackschnabernack.
Get the Bible and learn it. God probably hates you and has a plan for your life you will not like, statistically. On the other hand, those He does love He never forsakes. If He loves you, you will go to Him, because He will draw you. If He doesn’t, you will go to the other. He doesn’t need you…you need Him. No synergism. Salvation is wholly of Him.
Honk Honk · November 26, 2025 at 2:22 pm
To each according to his need, property is theft.
Phil B · November 26, 2025 at 4:36 pm
“To each according to his need, from each according to his ability”.
So who decided what your individual needs are and who decided what you can be forced to give? Answer, the State.
Get an Ouija board and ask all of the people that died under Stalin’s rule how that worked out.
Skyler the Weird · November 27, 2025 at 7:30 am
Funny how in under such policies those with the ability shirk their responsibility to work to provide for those with a need.
“They pretend to pay us and we pretend to work”
@HomeInSC · November 26, 2025 at 6:27 pm
Ammo up
Slow Joe Crow · November 27, 2025 at 2:23 am
Norway’s wealth tax is having the expected effect of driving wealthy people out of Norway. So the wealth tax failed to meet projections and they lost other tax revenue as well. Expect billionaires and upper level millionaires to flee New York City in droves. Even New Jersey is better than what Mamdani proposes, and a lot of banking and trading already moved to Jersey.
SiG · November 27, 2025 at 7:56 am
A quick check says the population of Norway is 5.6 million. We have cities with more people than that. Coincidentally, New York and El Lay, the two trying those socialist programs and they don’t work there either.
Brad · November 27, 2025 at 8:43 am
Your points are valid, but they miss an important point: financial discipline. The US is a hugely wealthy country, and the tax intake is equally huge. For a very few years over history, the US actually had a surplus in the budget.
The trick in Norway is to have actually written down that “3%” and then to abide by it. Imagine if the US government had (and always had) an enforceable, Constitutional requirement to spend less than it takes in. Really, that’s all it would have taken for the US to be in just as good a position as Norway.
Instead, the government always finds another reason to spend. It is just so easy to spend other people’s money. Especially when it helps you get re-elected.
Divemedic · November 27, 2025 at 3:53 pm
We never had a budget surplus.
TRX · November 27, 2025 at 7:03 pm
We did under the Jackson Administration, primarily due to the Fed selling vast quantities of Louisiana Purchase land. Then we had a major banking collapse and depression driven by Jackson’s “war against the banks.”
Divemedic · November 27, 2025 at 7:29 pm
I’ll give you that. I thought you were going to mention the Clinton surplus that never happened.
Danny · November 27, 2025 at 10:23 am
Totally ridiculous to compare the US to a European or Scandinavian country. For example, Germany is a smaller land area than the state of Georgia. California’s economy (total output) surpasses most of those countries.
This is a huge complex nation that cannot be compared to anything else. But that doesn’t matter to the leeches and vermin that aim to ruin it all. 🙁
Himself · November 28, 2025 at 9:34 am
Norway works on some level because it’s full of Norwegians. They don’t have a large vibrant lower class with their hands out for the Gibbs.
AuricTech · November 30, 2025 at 12:50 am
A wealth tax is nothing more than government feasting on that tasty, tasty seed corn.
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