Norway's Wealth Tax -- February 13, 2026

Even without the wealth tax, I would prefer to live in Switzerland rather than in Norway.

The big problem is that the 1.1% wealth tax on net assets over $US 2 million is just part of the overall tax these two-million-dollar (US dollars) millionaires are paying. 

Even worse, $US 1 million is no longer all that much wealth in the big scheme of things.  

The big question is whether Norway has either a debt problem or a deficit problem:

Norway's wealth tax: 

Norwegian wealth tax. Story reported in The Guardian. AI prompt and reply:

 

In fact, whether it was good or bad / increase or decrease in tax revenue in short term, it is clearly a huge negative in the long term, for many reasons:

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Wealth Tax

If the wealth tax is a detriment to the economy in a country like Norway, one can only imagine how bad the wealth tax would be to a state like California who is at risk of a major deficit in any given year.