In some states there are, which is also a bad & unjust practice. The difference is that the rates are between 0.49% and 2.5% and reassessment period differs between the states/localities (these are local taxes). This is way less that the proposed Norway taxes and "value" can be established much more justly than a "startup shares".

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vidarh 2 years ago | parent | next [-]

> This is way less that the proposed Norway taxes and "value" can be established much more justly than a "startup shares".

The Norwegian wealth tax is 0 up until ~$150k, then 0.7% local tax and 0.3%-0.4% to the state.

So 1%-1.1% above the threshold. But this is of taxable value which for shares is discounted 20%, so the actual tax rate is ~0.8%.

But again, for unlisted companies, the taxable value is the taxable valuation of company assets excluding goodwill, so in practice, it's even lower than that.

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asadotzler 2 years ago | parent | prev [-]

So, it's OK if it has rules and the Norway laws don't have any rules... is that what you're saying here/

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freefaler 2 years ago | parent [-]

The principle of taxation without value exchanging hands will lead to bad consequences, this is the point I'm trying to make.

What will Norwegian's representatives do they will do. It's stupid and will lead to bad things down the road. Norway is rich and can afford stupid politics for now.

It's also morally wrong, but morality and taxes are not the same.

	▲	vidarh 2 years ago \| parent [-]
		Norway has done this for many decades. It's worked just fine. Morality is subjective, so it's meaningless to argue it is morally wrong without making an argument for why.