Do you support a 1% Federal Wealth Tax to pay down the $39T National Debt? (Poll)

[Couchpotato]

Stop the billions in government welfare fraud.

wouldnt even come close to starting to solve the problem.

Entitlements and the military make up 75% of the budget. Without reform to both of those budgets we are pissing in the wind.

 

[Care4all]

Income taxes are 50 and payroll (ss which is just another income tax) is 30. So it is basically 80.


Isnt Norway always put up as the standard of what a good tax system looks like?

Not that I am aware of...? Don't they have a "cradle to grave safety net"?

 

[Winston]

They account for over 80% of the total tax revenue, Short Bus.

Next?

 

[Couchpotato]

Not that I am aware of...? Don't they have a "cradle to grave safety net"?

Probably. They also have a 22% flat tax on all income, with small incremental increases for higher earners.

Bracket tax on personal income​

Personal income between NOK 226,100 and NOK 318,299 is subject to a bracket tax of 1.7%.

For personal income between NOK 318,300 and NOK 725,049, the bracket tax rate is 4.0%.

For personal income between NOK 720,050 and NOK 980,099, the bracket tax rate is 13.7%.

For personal income between NOK 980,100 and NOK 1,467,199, the bracket tax rate is 16.8%.

For income exceeding NOK 1,467,200, the bracket tax rate is 17.8%.

The personal income tax (PIT) base comprises income mainly from employment, including benefits in kind, and pensions, as well as income from a self-proprietorship and certain remuneration from partnerships.

NOK is .1 dollar for reference. So if you make over 22k USD in Norway you're paying an increased tax bracket.

 

[Natural Citizen]

Purpose:
Payroll taxes fund specific social programs like Social Security, Medicare, and unemployment benefits.
Income taxes fund general government operations, including defense, education, infrastructure, and public services.

Who Pays:
Payroll taxes are split between employers and employees (e.g., each pays 6.2% for Social Security and 1.45% for Medicare).
Income taxes are paid solely by individuals, though employers withhold them from paychecks.

Tax Rates:
Payroll taxes have fixed rates (e.g., 15.3% total for Social Security and Medicare) and apply only up to income caps (e.g., Social Security tax stops at $176,100 in 2025).
Income taxes use a progressive rate system, ranging from 10% to 37%, based on income level and filing status.

Income Base:
Payroll taxes apply only to wages and salaries.
Income taxes apply to all sources of income, including wages, investments, and rental income.

Calculation Method:
Payroll taxes are calculated based only on gross income.
Income taxes consider filing status, deductions, credits, and exemptions.

You don't even add ''AI says'' any more while trying to pawn it off as your own, huh. I've noticed youve taken to that routine lately. Heh heh. What a clown...

 

[Winston]

Financial assets are also known by another name: investments. You know what happens when you raise taxes on something? You get less of it, and less investing is counterproductive to economic growth. Consider:

Among the countries that had a wealth tax in the past but have abolished it, Germany, France and Sweden are particularly instructive. Everywhere, this tax was abolished because it caused more harm than good. The rich, who were to be fleeced, voted with their feet. Even without including emigration, wealth tax on working capital damaged the government’s income base. The wealth tax discourages investment and growth also in many companies with owners who do not move and thus reduces other more important tax revenues such as corporation tax.

Seems to work rather well in Switzerland.

 

[leftwinger]

You don't even add ''AI says'' any more while trying to pawn it off as your own, huh. I've noticed youve taken to that routine lately. Heh heh. What a clown...

Oops. Yes it was all search. I figured it was obvious.

They were throwing out TAX numbers willy-nilly so I went to check it. I will make sure to go add that before time is up.

 

[Care4all]

Probably. They also have a 22% flat tax on all income, with small incremental increases for higher earners.

Bracket tax on personal income​

Personal income between NOK 226,100 and NOK 318,299 is subject to a bracket tax of 1.7%.

For personal income between NOK 318,300 and NOK 725,049, the bracket tax rate is 4.0%.

For personal income between NOK 720,050 and NOK 980,099, the bracket tax rate is 13.7%.

For personal income between NOK 980,100 and NOK 1,467,199, the bracket tax rate is 16.8%.

For income exceeding NOK 1,467,200, the bracket tax rate is 17.8%.

The personal income tax (PIT) base comprises income mainly from employment, including benefits in kind, and pensions, as well as income from a self-proprietorship and certain remuneration from partnerships.

NOK is .1 dollar for reference. So if you make over 22k USD in Norway you're paying an increased tax bracket.

Ty!

Here are the benefits for those taxes...



Norwegians often describe their relationship with taxes as a "membership fee" for a high-functioning society. For that ~34% tax on a $100k salary, the return is a comprehensive "cradle-to-grave" safety net designed to eliminate major life stressors.


Here is the breakdown of what those taxes buy in 2026:

1. Healthcare: The "Exemption Card" System​

Healthcare is universal and mostly funded by taxes. While you pay small co-pays for doctor visits (usually $20–45), there is a safety net cap.

• Annual Limit: Once you spend roughly 3,100 NOK ($320) in a calendar year on approved treatments and medications, you receive an "exemption card" (frikort).
• The Benefit: For the rest of the year, all public doctor visits, tests, and many prescriptions are 100% free.

• Hospitalization: All public hospital stays, surgeries, and treatments are entirely free from day one.

2. Education: Free from Age 6 to PhD​

• Higher Ed: All public universities are tuition-free for residents, even for Master's and PhD programs.
• Childcare: While not totally free, it is heavily subsidized. The maximum monthly price for a full-time kindergarten spot is capped (around NOK 2,000–3,000), regardless of the family's income.

• Student Support: Students can access low-interest loans and grants through Lånekassen, and a portion of the loan is "forgiven" (turned into a grant) if the student passes their exams.

3. Family & Parental Support​

Norway has some of the world's most generous parental leave policies.

• Paid Leave: Parents can choose 49 weeks at 100% pay or 61 weeks at 80% pay. This is paid by the state, not the employer.

• Earmarked Quotas: To encourage equality, 15 weeks are reserved specifically for the father (or second parent), or they are lost.

• Child Benefit: The government sends a monthly "allowance" of roughly NOK 2,012 ($210) per child until age 18, regardless of how much the parents earn.

4. Work & Income Security​

• Sick Leave: If you get a doctor’s note, you receive 100% of your salary from day one of your illness for up to a full year. The employer pays the first 16 days, and the government (NAV) pays the rest.

• Unemployment: If you lose your job, you typically receive roughly 62.4% of your previous income for up to two years while you look for a new one.

5. Public Infrastructure & Safety​

• Infrastructure: Massive investments in public transport, tunnels, and bridges (even in remote fjords).
• Pensions: A guaranteed "National Insurance" pension, which is supplemented by mandatory employer-funded private accounts.

The Trade-off: While the "sticker price" of living in Norway is high due to the 25% VAT (sales tax) and income tax, a Norwegian family rarely has to worry about a $50,000 medical bill or a $200,000 student loan balance.

 

[Natural Citizen]

Oops. Yes it was all search. I figured it was obvious.

They were throwing out TAX numbers willy-nilly so I went to check it. I will make sure to go add that before time is up.

Heh heh. Yes...''oops.''

As I said, your ''oops'' seems to be routine practice lately, observably.

Do you have any thoughts of your own on the topic?

Ah well. If it's of any consolation, a few others have adopted this intellectually dishonest practice lately as well, also observably. Scoundrels...

 

[leftwinger]

Bottom line Tax revenue approximate:

49% Individiual income tax
11% Corporate income tax
34% Payroll taxes
6% Misc taxes?

 

[leftwinger]

Heh heh. Yes...''oops.''

As I said, your ''oops'' seems to be routine practice lately.

Do you have any thoughts of your own on the topic?

Early in the thread I posted about it.

I posted today what I found on Tax revenue. My bad?

 

[task0778]

Isnt Norway always put up as the standard of what a good tax system looks like?

The recent wealth tax increase in Norway was expected to bring in an additional $146M in yearly tax revenue.

Instead, individuals worth $54B left the country, leading to a lost $594M in yearly wealth tax revenue.

That's a net decrease of $448M+.
.
.
The mass departure of Norway's billionaires has transformed into an unprecedented exodus, as the nation's tax administration grapples with one of Europe's most demanding wealth tax and income tax rates. Last year marked a watershed moment in this capital flight, with more than NOK 600 billion in assets leaving the country as high-net-worth individuals increasingly opted for tax havens over their homeland.

The phenomenon has caught the attention of global media, with The Guardian and other outlets documenting the steady stream of super-rich Norwegians seeking refuge in more financially hospitable jurisdictions.

Some of these individuals also explore structured mobility routes such as El Salvador Citizenship by Investment, which can complement tax relocation strategies with residency security.

Norway's Wealth Tax Unchains a Capital Exodus

Norway's wealth tax increase, expected to raise $146M, led to a $448M net loss as $54B in wealth left the country, reducing tax revenue by $594M.

citizenx.com

1. I don't know diddly about Citizenx, are their numbers accurate or not? But ....

2. History tells us that when you try to soak the rich, some of them sell out, pack up, and move out of country. There is a corresponding drop in economic growth when that happens.

3. Democrats ALWAYS use a linear calculation for how much more revenue they'll get from any kind of tax increase, and it is ALWAYS overstated. That's because there is ALWAYS dynamic changes in the behavior of those affected by the higher taxes; they will take steps to reduce the hit.

 

[leftwinger]

Ty!

Here are the benefits for those taxes...



Norwegians often describe their relationship with taxes as a "membership fee" for a high-functioning society. For that ~34% tax on a $100k salary, the return is a comprehensive "cradle-to-grave" safety net designed to eliminate major life stressors.


Here is the breakdown of what those taxes buy in 2026:

1. Healthcare: The "Exemption Card" System​

Healthcare is universal and mostly funded by taxes. While you pay small co-pays for doctor visits (usually $20–45), there is a safety net cap.

• Annual Limit: Once you spend roughly 3,100 NOK ($320) in a calendar year on approved treatments and medications, you receive an "exemption card" (frikort).
• The Benefit: For the rest of the year, all public doctor visits, tests, and many prescriptions are 100% free.

• Hospitalization: All public hospital stays, surgeries, and treatments are entirely free from day one.

2. Education: Free from Age 6 to PhD​

• Higher Ed: All public universities are tuition-free for residents, even for Master's and PhD programs.
• Childcare: While not totally free, it is heavily subsidized. The maximum monthly price for a full-time kindergarten spot is capped (around NOK 2,000–3,000), regardless of the family's income.

• Student Support: Students can access low-interest loans and grants through Lånekassen, and a portion of the loan is "forgiven" (turned into a grant) if the student passes their exams.

3. Family & Parental Support​

Norway has some of the world's most generous parental leave policies.

• Paid Leave: Parents can choose 49 weeks at 100% pay or 61 weeks at 80% pay. This is paid by the state, not the employer.

• Earmarked Quotas: To encourage equality, 15 weeks are reserved specifically for the father (or second parent), or they are lost.

• Child Benefit: The government sends a monthly "allowance" of roughly NOK 2,012 ($210) per child until age 18, regardless of how much the parents earn.

4. Work & Income Security​

• Sick Leave: If you get a doctor’s note, you receive 100% of your salary from day one of your illness for up to a full year. The employer pays the first 16 days, and the government (NAV) pays the rest.

• Unemployment: If you lose your job, you typically receive roughly 62.4% of your previous income for up to two years while you look for a new one.

5. Public Infrastructure & Safety​

• Infrastructure: Massive investments in public transport, tunnels, and bridges (even in remote fjords).
• Pensions: A guaranteed "National Insurance" pension, which is supplemented by mandatory employer-funded private accounts.

Same as here with less fraud, theft and waste. They don't have $1T lost annually. They may have some honor decency and controls.

 

[citygator]

You would if they weren't liquid assets.

Who doesnt have 1% in liquid assets? I wouldnt advocate this for people who werent wealthy.

And people already pay taxes on assets. Property, sales, etc. Those are taxes you pay on an asset. Property taxes you pay forever, because apparently there's a fee that needs to be paid to the Government for the privilege of owning property, though it's closer to rent since if you dont pay your "Government property rent" they will evict you and find someone who's willing to pay it.

What this is asking to do is tax things again that have already been taxed, or tax an unrealized asset (stocks). If you want to tax stocks which are paid as compensation at the value of that stock at the time it was paid then you might have an argument but taxing a stock's value over and over would be ridiculous, would kill all private investment through the stock market and probably wildly unconstitutional. Is the Government going to issue a tax credit or refund on a stock that goes down in value?

You have to get taxes somehow so I dont care if it was taxed once or twice or three times already. Most righties think there is a treasure trove of money that poor people have and they should give more in taxes. That is crazy.

Only way to pay the debt is from people who have money. Like it or not.

 

[progressive hunter]

Just reality and common sense.
A 100 Billionaire can certainly afford to be with ONLY 10 Billion Less.

Who can spend that much money?
Buffett is correct.

you obviously dont know how wealth works or the difference between wealth and cash on hand,,

but we all lknow you leftist are ignorant morons,,

 

[EdwinAMartin]

Income taxes are 50 and payroll (ss which is just another income tax) is 30. So it is basically 80.


Isnt Norway always put up as the standard of what a good tax system looks like?

The point is income taxes are only around 50% of taxes, not '80%' as some hope nobody notices. So, the claim they're paying' 50% of taxes' means they pay around 25% of taxes. The propagandists hope nobody notices the distinction.

Norway has a huge oil industry that offsets their tax base, but no, they aren't my standard.

In other news, the top earners make over 80% of total income, so why don't they pay 80% of income taxes instead of 50%?

Warren Buffet pointed out he paid less in taxes than his $35K a year secretary did. He wasn't lying. So, if you want real tax reforms, quit looting the working class first.

 

[EdwinAMartin]

WTF are you talking about? Nobody said anything about ending all taxes.

Sure they do. Then the game is for some other ideologue to jump in and try and change the focus.

 

[BS Filter]

Who doesnt have 1% in liquid assets? I wouldnt advocate this for people who werent wealthy.

You have to get taxes somehow so I dont care if it was taxed once or twice or three times already. Most righties think there is a treasure trove of money that poor people have and they should give more in taxes. That is crazy.

Only way to pay the debt is from people who have money. Like it or not.

How about cutting spending on unnecessary crap and fraud.

 

[EdwinAMartin]

Who doesnt have 1% in liquid assets? I wouldnt advocate this for people who werent wealthy.

A 1% 'wealth tax' is also just stupid and won't make a dent in deficits, it's just idiot feel good nonsense.

 

[EdwinAMartin]

Close, but the problem is that it doesn't matter much what scheme is used, corruption will **** it all up, no matter what laws get passed.

And, all these pols aren't dropped in from outer space, they come from the same population and culture of the people who elect them. So, if they are so easy to corrupt, Guess what that means?