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> Suppose the same principle was applied to a home owner.

Norway does apply the wealth tax to home owners. Though there is a discount factor for different types of assets, and the value of your primary home is discounted by 75%. There's also a minimum threshold.

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freefaler 11 hours ago | parent [-]

There is a difference between a well-established market with "value" that is established and something much more speculative like other type of assets.

If people there are OK with these taxes and don't vote them out it's their choice. My point is that it's a bad and wrong solution with bad consequences.

There is data about this: https://www.gemconsortium.org/data

And also check how many big companies have been started in the last 10 years in EU.

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vidarh 10 hours ago | parent [-]

> If people there are OK with these taxes and don't vote them out it's their choice. My point is that it's a bad and wrong solution with bad consequences.

Norway has had this tax for decades, and done just fine.

> There is data about this: https://www.gemconsortium.org/data

I don't see any data that gives any useful indication about this there.

> And also check how many big companies have been started in the last 10 years in EU.

Norway isn't in the EU, and the EU doesn't have wealth taxes, so it doesn't seem awfully relevant.

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freefaler 10 hours ago | parent [-]

Taxes are levied on economic activity. In capitalist systems the main economic activity is created by companies by direct tax on profits or direct tax on labor they buy (wages for the workers).

Count the number of companies created and grown in the last 20 years and see the trend. If it's going down your tax revenues will decrease. So indeed number of companies created is a very good proxy for future tax revenues.

	▲	vidarh 10 hours ago \| parent [-]
		Taxes are levied on all kinds of things that are not economic activity. Including, in Norway, on ownership. > Count the number of companies created and grown in the last 20 years and see the trend. If it's going down your tax revenues will decrease. So indeed number of companies created is a very good proxy for future tax revenues. Even if it was that simple, that does not provide even a correlation - much less causation - with wealth taxes, which Norway has had for decades. E.g. we'd expect to see changes corresponding with changes in the wealth tax rates.