Norway - socialism and the startup capital of the world...

[EnderJE]

In Norway, Start-ups Say Ja to Socialism

An interesting post.

As previously discussed, the mass of the US (300m vs the amount of people in Norway) and the lack of responsibility of some of it's citizens make this an unlikely possibility; but it indicates that higher of taxes doesn't always correlate to the lower startups.

 

[mrplunkey]

So he owns a $44M dollar company and paid $102,970 in personal taxes on his income and wealth?

Hell yeah, I'd do that deal all day long. Where do I sign up?

 

[EnderJE]

So he owns a $44M dollar company and paid $102,970 in personal taxes on his income and wealth?

Hell yeah, I'd do that deal all day long. Where do I sign up?

You want to pay 50% of total income in taxes? Wow. Maybe those Vibrams were showing us something after all?

 

[mrplunkey]

You want to pay 50% of total income in taxes? Wow. Maybe those Vibrams were showing us something after all?

Math is your friend. Let's have some fun!

Here are some facts:

- The individual tax rate in Norway is: 47.8%
- The entrepreneur's income taxes were $102,970.
- The guy owns a $44M company

So that means he was paid $215,418

And that's in a very high cost of living country that also has a VAT. So in American terms, that's probably $120,000-$170,000 depending on the city you choose (guesstimate).

Now do you really think someone who owns a $44M company lives off what Barry Obama considers "Middle Class"?

 

[75th]

Thats kind of the point of the article. Some people feel thats a more than decent trade off seeing as how their retirement, health care, and kids education are all taken care of. From what I understand those tend to be the three largest financial responsibilities in any persons life (next to taxes, obviously).

 

[mrplunkey]

Thats kind of the point of the article. Some people feel thats a more than decent trade off seeing as how their retirement, health care, and kids education are all taken care of. From what I understand those tend to be the three largest financial responsibilities in any persons life (next to taxes, obviously).

We'll lets measure how well we're doing now:

1) Our private provider/public insurance system (Medicare) collects around $1 for every $3 it spends. It alone will drive us into insolvency in the next couple of decades.

2) We raided our public retirement system even though it was supposed to be a "lock box". It was originally created to kick-in when the average American dies, yet hasn't been adjusted even though our average lifespan is now more than 72 years.

3) Education... I don't think we even want to talk about that. It's depressing.

But don't get me wrong. If we had people owning $44M businesses paying ~100k per year in taxes, I'd support that all day long.

 

[mrplunkey]

Thats kind of the point of the article. Some people feel thats a more than decent trade off seeing as how their retirement, health care, and kids education are all taken care of. From what I understand those tend to be the three largest financial responsibilities in any persons life (next to taxes, obviously).

Or we could use a little insight and realize that the corporate rate in Norway is only 28%. As the owner of a business, that's probably how he gets his day-to-day expenses (and toys) funded.