If you can make multiple videos on just say (Scandinavian) politics, investing, and other such topics, one always could make a separate channel, MidnightSun Politics. lol That said, I do like more of this format on a Eurocentic viewpoint since i am not from Europe myself.
@@DarlinAkaDarlene Or maybe you do not hear enough anti Europe propaganda for your taste? The general consesus is that America is best for rich people and Europe for poor people. The middle class vary based on your preferences I guess.
@@MidnightsEdge please do, we are in the same trap as USA were inn. best in world bs like happiest place on earth, so we have gotten complacent, if you could shine a light on Scandinavia and all the problems we have i believe would help to some degree
it was bad, they just decided to put it on steroids. The problem in Norway is not any specific tax. The problem is that there is ALL the taxes at extreme rates.
If you've ever read "Basic Economics" by Thomas Sowell, one of the key points he keeps pointing out is that policies that are supposedly designed to help poor people typically hurt poor people the most.
@@SpaceJawa the problem in modern times is that it's practically UBI. It's not enough that you can fulfill any dreams, but just enough that you can sacrifice your dream for comfort. And that is how it hurts them.
Decades of emotionalism, virtue signaling, and unwillingness to face reality will do that to a society. As the old saying goes, "Weak men make for hard times."
My sister married a Norgie and moved from the States to your country. She told me how wonderful it is and how everything is covered. She then mentioned how she drives 2 hours to Sweden every week to stock up on groceries and other supplies because everything is so expensive. It still hasn't clicked with her.
That's a common experience in Norway. Yes, living costs are high here, but the real issue is the government's policies that make it even harder for businesses and individuals. The tax system, heavy regulations, and a focus on welfare over economic growth have created a tough environment, especially for entrepreneurs and the wealthy. High taxes, combined with expensive everyday goods, leave many feeling burdened. On top of that, the welfare system, while extensive, has its flaws. For instance, even people with 100% disability are expected to work, which isn’t feasible for many. Disability benefits are modest and often not enough to live comfortably. For example, someone living with a spouse will have their benefits reduced because the system expects the partner to support them financially. This can leave disabled individuals in a difficult financial position. Additionally, if you’re married, the government may take a portion of your benefits due to the combined income of the couple, which discourages people from relying on their partner’s support. It’s a system that, in many ways, makes it harder for families to thrive financially, especially when living costs are so high. this is just a few of the insane policies in Norway
I guess your sister married a man with a better income. Then the reality isn't that bad... yet. Current policies doesn't have immediate effect, it takes time. 70% of norways population has a job and salary that is directly controlled by the government. There is very few "real private" jobs. The government is "very good" at micromanaging the economy. The government create tenders and hand them out to friendly companies that do their bidding. Everything is controlled to the last detail in an incredibly system. If you know capitalism, like Mises, Hayek, Sowell, and all the "irrelevant" experts, then you know that the government make stupid decisions and create ineffective systems. It doesn't fall apart over night. It takes time. There is already less jobs. Salary is not growing enough. There is tampering with statistics. The currency has crashed like 25%. Electricity price has exploded. The list is very long. There is no incentive to start a business or hire people any more. The judicial system is taken over by EU. The laws are from WEF/USA/UN/EU. Everything is made expensive on purpose. Flat tyre? A simple patch is no no. 4 new wheels.
@frodej6640 Her husband is an officer in the military, so they get that government check in addition to her working. She also mentioned the electricity limits within her house when I offered her an old PC of mine. (Again, still has yet to click with her.) Anyways, with what you've said, it's really no longer a question of if your economy will collapse, but when. I always thought the oil & gas industry was the only thing keeping Norway's head above water, but it's clear you have people in charge that are hell-bent on seeing your country drown.
Old Norway was famous for its vikings specifically because of its massive suck and draconic rulers. It turns out that competent people flee that sort of thing, and they have to go somewhere.
@@steinarvilnes3954 not a good argument. That’s an opinion poll, not factual analysis. Also, that’s right now (or whenever the latest poll is published), not the future outlook.
@@steinarvilnes3954 Norwegians like living there. They have infinity welfare benefits due to their tiny population and insane amount of oil. Why the UK didn't just take all the North Sea oil I've never understand. Foreigners despise Norwegian culture and the cold but put up with it for the free kroner. Just like Minnesota.
I was born and still live in Norway and we have a very high tax rate, but we also have a lot of extra costs like municipal fees and something called a "TV license" which gives you a channel called NRK which not many people watch but is forced to pay for today even if you don't have a TV since they put it in the tax. They take 34% of the normal salary and if you don't have a tax card they will take 50% of your salary. If you have a home in Norway, it is easy to feel that after tax and deductions, you only have around 7-15% of your salary left that can be used for what you want which depends on the job you have. The food prices here have gone really high up these last years and the state refuses to find a solution to lower prices. The state wonders why more than 40-60% of the population drives to Sweden to shop for food. If you try to buy 2 Kg chicken breasts in Norway the cheapest I've found costs 30 dollars and in Sweden, it only costs around 14-15 dollars (That's Half Price!) So the only thing the state thinks will solve this problem is to raise prices here in Norway even higher... For them, the solution is (High prices can only be solved with even higher prices) Sounds stupid because it is stupid... If you have a large fortune, you must pay wealth tax. If what you have in your savings account and other things you own such as a house or car or shares does not exceed 1.5 million NOK (135 150 dollars today), you do not have to pay wealth tax. If you receive interest on your savings, you must pay tax on this gain. So now is even better to have an account in Sweden because there is no wealth taxes there. Norway is going to take itself out because of all the different taxes we have here.
The TV license was abolished almost 5 years ago, though we are still indirectly taxed for it because now NRK is paid directly from the state budget. Also you didn't even mention VAT, which is 25% on (almost) everything. I hope you realise there are many countries and in the US many states that don't have a VAT at all.
This really reminds me of 70's Sweden, where the leading party, The Social Democrats got so cocky they ended up taxing business owners over 100%. This lead to Astrid Lindgren (the children's author behind Pippi Longstocking) writing a short story about a greedy witch, aluding to the party in the biggest newspaper in the country. Mind you, Lindgren was up until that point a proud supporter of the party, and in no way a "greedy capitalist" who wanted all the wealth for herself. Things changed a little bit for the better after that, but Sweden is still, just like Norway, not an easy country to become successful in.
That was not business taxes but personal taxes I believe? And why do only business leaders count? What about the hell about 25 percent of the lowest part of the population live in, in your belived pro business countries? Except Switzerland, but that is an edge case.
More people should look up the 70's Sweden socialist debacle. For some reason they they think it is a socialist country. High taxes does not equal socialism.
@@steinarvilnes3954 The reason Lindgren could be taxed over 100% was that she was an author and, therefore, a private business owner. The common worker wasn't taxed nearly as much for obvious reasons. The rest of your comment makes no sense, are you asking me if I want Sweden to become like Switzerland or what will happen with the poorest in the country with low taxes?
@@TGFalk I am not talking like Switzerland, but the US, Chile or Singapore. I simply do not see any country except Switzerland like that, that is liveable for almost everyone. It seems to me that everyone that make it easier for succesfull people, also disdain weakness or even mediocrity.
@@TheREALSimagination Yes but the wokesters love migrants so they should get as many as they can get. These are homogenous societies of sheltered people who are not net drains on the taxpayer. Its allowed the ruling class to develop their luxury, socialist beliefs because they force others to pay the bill. Soon they’ll reach a tipping point of what the productive people are able or willing to pay for, then you’ll see a paradigm shift.
Damn straight man . NAV is a hellhole open from 12:00 to 12:01 and if you have a question the only way to ask that question is by phone or web . My securitas here will show you the way out
@@rasmusmeng2363 Does not matter, your either self sufficient or dead. It's not like we are not going to have another massive EMP event again, we just don't know when as we have not had technology affected by it long enough to determine a probable interval.
As a Brit working on Norwegian oil rigs I'm endlessly mystified by the way Norway has managed to sleepwalk towards recession without addressing any of the problems. The signs are not yet really biting the internal economy but they will more and more. The idea that the oil fund will make everything OK is just madness...
Oh, but it will in the minds of the economically illiterate who see it's magnitude increase every time inflation increases (It is written in USD). They get to spend a few more billions on the budget not realizing they lost an order of magnitude in tax revenue.
Norway got mass converted to Christianity and lost their balls a thousand years ago. Then the black death killed most of the population and the royalty. Then they spent 500+ years owned by Denmark and then Sweden before they became independent again. Then they continued as a frozen backwater fishing village until they became the Beverly Hillbillies post WWII because of oil.
Good luck, with the wealth fund operating as it is that would require the USD to burn first. We would need an economic disaster so brutal that shit becomes worthless. And sadly, it is written in USD, so the worse our economy the more valuable it gets.
Those exit taxes are horrid, I remember hearing CA tried that once and it didn’t work well. Then again they had agents digging through people’s garbage looking for receipts. I liked this video and would watch others like it. I’m from Asia originally but living in the states. So hearing about different parts of the world and their economy is quite interesting. More so from someone who lives there.
Such a shame to see happen. California has been trying the same for many years, sending tax bills to folks long after moved out of state, such as my brother in law. Thank you for sharing, Andre. It is always nice to know what is happening elsewhere in the world and from a reputable source of many years now.
I visited Norway in the spring of 2017. During the trip I visited multiple museums, including the natural history museum in Oslo. It was somewhat shocking when there were signs all around the floor that containes all of the artifacts from the middle ages (tapestries, viking era swords, etc) stating that the exhibit would be closing to be replaced with an exhibit on climate change. Why am I going to a museum in Oslo to learn about climate change? I'm at the history museum for history.
While im not a fan of unrestricted capitalism, this is fucking insane and as a german living in the former communist part of my ocuntry, the erich Honecker comparison Was brilliant
“Unrestricted”, you use such nasty language! "[B]y directing that industry in such a manner as its produce may be of the greatest value, he intends only his own gain, and he is in this, as in many other cases, led by an invisible hand to promote an end which was no part of his intention. Nor is it always the worse for the society that it was not part of it. By pursuing his own interest he frequently promotes that of the society more effectually than when he really intends to promote it. I have never known much good done by those who affected to trade for the public good."
Unrestricted capitalism is better than restricted capitalism, with one caveat: so long as the corporations do not gain influence over the state. The problem with regulation is that it is used to cripple competition and benefit the wealthiest and most successful. Knowing this, the only restriction capitalism needs is for business to be unaffiliated and unaligned with the state. It is with the state's permission that monopolies form, because monopolies only exist in environments where the state puts its thumb on the scale to prevent the growth of competition in a free market.
@@Kanaleah The issue with unrestricted capitalism is the poverty of a large minority, bad working conditions, many not having access to healthcare and such.
Capitalism is simply the process of someone with capital making a present investment for future returns. The issue is that people have this bizarre tendency to confuse capitalism with human desire.
Norwegian here. Another banger of a video. And it gives a very nice and straight to the point explanation on current Norwegian tax, and economical policies. Cheers 🍻
As a recent arrival to Norway (not an immigrant, I moved for work), I absolutely concur. The country's leadership is a complete mess and are unable to take a look at the problems the country faces objectively.
People have become so lazy they believe stupid things so they can feel virtuous and pat themselves on the back even though they’ve accomplished nothing. This begets their pride. Then they feel they can do no wrong. And then they pave the road to hell with their stupid intentions.
As a aussie I shrug and say yeah….. The land down under is at least as f-d up. This year they started taxing unrealised gains on the mandatory (largely union controlled) private retirement funds. In lay terms (not inflation indexed don’t forget) if you have more then $3million in your (mandatory) retirement fund they will tax it. After it’s been taxed on the way in as the contributions are part of your pre tax income. Oh and they’re fixed too, if you go beyond a certain amount it’s re-taxed as income (headline rate in 34%). The state I’m in PDRV (peoples democratic republic of Victoria) will be $268billion in debt within 5 years. The Independent parliamentary budget quango gave up after that mumbling he doesn’t know how….
My great grandfather came from Norway he was peder Pederson and settled in 1900 in Minnesota changing his last name from Pederson to Peterson where I get my last name
This would have been our fate under Kamala. Remember when Obama was asked about a tax increase that was likely to bring in LESS revenue?.. (wrong side of the Laffer curve) and he said he would be for it anyway?... That's because he wasn't raising the tax for the ostensible reason (more revenue, more redistribution, more gov programs) ... It was meant to be punitive. The "equity" folks who actually know what that means, understand that equity equalizes downwards.... and they don't care
Wait.... You mean the Property taxes paid by American's is seen as extra evil Norway? I just had to pay $2400 for the joy of not being homeless and I didn't get to deduct my mortgage.
go watch michael bodanero. he interviewed a few real estate lawyers. qrd: you need raise the issue with your state to have it in writing that you don't agree with the evaluations, with the result of getting turned down. what's important is the documentation and disagreement not the result.
@@tillmanadkins713 I can't tell you all the minutiae but there seems to be a movement going on now where a collective is fighting PT. maybe you already did your part and just need to annex. I suggest you to go watch these Michael videos.
As an Argentinian who proudly voted for Javier Milei, I must tell you this: he won mainly because our country was so mismanaged, that SOMEONE had to deal with it, and only an outsider like him could. He is doing an amazing job. The bad news is that it took us 20 years to understand that socialism is bad, and I’m quite pessimistic about this. My fear is that in Norway will only learn the harsh way that socialism only brings misery, unless a Norwegian Javier Milei manages to convince most of the population that their ways are wrong and need to return to capitalism, that is. I love your channel, keep talking about your country more often, Andre. Best of luck to you and the people of Norway.
I sincerely wish all success to Javier Milei, I am Brazilian and I see that we are drifting back to the 1980s hyperinflation. We need a shinny example on what can be accomplished by a libertarian government so we too can vote on a Brazilian Javier Milei.
@@mervstash3692Half of the population was already eating from the dumpsters 20 years ago. We finally have someone who is trying to fix a broken economy, can’t say the same of previous governments. Instead of speaking without knowing anything about what my country has been, I suggest you at least investigate for yourself first, to understand why we are where we are, so you don’t make the same mistakes as us.
Norway could have been a great place to live and do business, but no. Only the STATE is to be rich, the rest of us get to live in a dystopia that hates freedom and economic growth.
@steinarvilnes3954 That is an interesting question. However, it's not really the issue. I live in Norway and will continue to do so, so I'll just have to suck it up, won't I?
@@GreenKnight2001 But is sounds interesting you complain, and still cannot find a better country? Especially if you want one without retarded politicans.
Would say this is VERY important and needs to be talked more about. Scandinavia can be a wonderful place, but if the governments are this careless and stupid, people need to be made aware of it.
Let's say you want to retire with income of $80k. Rule of thumb is that you can withdraw 4% of your savings, meaning you need to save $2M to get that retirement. But with a fortune tax of just 1%, that's $20k/yr being taken from your nest egg. You don't have enough to retire anymore. Instead, you have to save $2.67M or a third MORE than what you would have had to save before. *But it's WORSE than it sounds.* The tax is a hole draining your retirement bucket as you try to fill it. If you start saving $5k/yr, increase it by 3% each year (assuming raises), and earn 8%/yr, you will have $2M after 40 yr. But if your savings get taxed at 1% of their value each year--and being generous let's consider ONLY the amount over $170k--you only have $1.7M after 40 yr. It takes another 2.5 yr to get to $2M. But you need to get to $2.67M, so you actually have to work & save for 46 yr instead of 40 yr. It's like raising your retirement age from 65 to 71. (These calcs ignore income tax. So it's actually much worse.)
There is a reason why I feel alienated in my own country. I am grateful for the help I've got but it's still near impossible to have any opportunity to build anything of your own without being taxed into oblivion. It does not help the fact that the birthrate is taking a nose dive alongside the immigration policies they are enforcing. Not to mention the superficial social situations and lack of any true connection. This is a zombie society, we are already dead. There is no denying it.
@@steinarvilnes3954 decline in birth rates is due to feminism, birth control culminating in giving women's rights inflating their egos and sense of values. Which means its global.
An exit tax is a monumentally stupid idea because it increases the risk for future investors. No one is going to want to take the risk of bringing their business into Norway if they have to add a 37% penalty tax on top of the possibility of the venture not being profitable.
Don't worry, you must be living in Norway. It's not like the companies disappeared along with the biggest boys moving to Switzerland. Just the pressure on the company to produce 2-3% of it's total value just so the owner can pay the damn fortune tax.
@@torgrimhanssen5100 That's not what the video said. A company would be taxed 37.8% of the value of everything a company owns in Norway prior to leaving. Meaning that if you're a foreign investor that spent money to set up a business in Norway and it fails, they will tax you 37.8% of your investment to close shop and leave.
@@OmegaZyion Not sure where the confusion is. You can't own a company in Norway, be Norwegian and live in Norway. As long as you don't live in Norway, no problem, if your not Norwegian, even better for the companies tax burden.
@@torgrimhanssen5100 Maybe it has something to do with owning property in a country means you are subject to the same tax laws as everyone else in that country. Y'know, like how 99% of the world does it.
@@OmegaZyion "No one is going to want to take the risk of bringing their business into Norway" I think your confusing your own context. The exit tax, fortune tax etc. won't affect a foreign investor building a company in Norway. Foreign investment is fleeing for a different reason.
I lived in Norway, Stavanger to be precise, for 6 months back in 2007. I absolutely loved the country, even though I could only travel during the winter, when Norwegians were even more shut-in and not particularly friendly. Back then, I could definitely back the idea of 40%+ taxes (how naïve, I know), because I could see the money wherever you went. Taxes were used to improve the life of the folk. It saddens me deeply to see that this is no longer the case.
I second this. I still have some close relatives there and I dread visiting them. Oslo in particular is a dystopian mess of tagged buildings and trains, unimaginative, bleak modern architecture and random street crime. No thanks! Or in my dialect, Eg takker nei!
Norway has seriously declined in a lot of ways over the last two decades, culturally, socially, economically, demographically. It's gotten to the point that I don't recognize my own country any more.
Do you think that Jantelaagen could have anything to do with it? That concept that's valid all over Scandinavia that consists of 10 rules that basically all come down to: "Don't stand out, don't try to be special, stay in your lane, don't excell"?
I was in Norway twice during the 00's, both for work (born and raised in the US midwest, live in TX). I enjoyed it immensely, such a beautiful country IMO. Each time my colleagues were enamoured with the society and how relaxed people were overall, no hustle and bustle it seemed like the US - public transportation, gov't mandated holidays in some cases, etc. My boss (from CA) and I got into a debate - his side, wouldn't you pay 50% or more of your income just to live this kind of life every day? I said, no, because everyone seemed to live the same life, there's not much incentive to improve individually, people seemed OK with what the gov't says, I'm just not built that way - and who will stop them from demanding more? Same when I was in Brussels for two months in the 10's, I was shocked to see people line up for some sort of mandated payout that came every month (some stipend, can't remember what it was) the company was required to pay.
But why is the ability of a select few to "improve" so much more important than other people surviving? The US is the only rich country with a falling average lifespan.
As a Norwegian i would like a lot to change, ive voted for Fremskrittspartiet every time we had a election, unfortunately it doesn't seem to matter if one side wins with 40% of the votes, the smaller parties just make an alliance and get majority, Norway would need to get laws changed stating that whoever gains the most votes have their cases approved, otherwise the 15 other losers just make an alliance that has 1-2% more and what the people wanted no longer matters, also our ecological party doesn't even know that potatoes are grown in the dirt
Yes, more of these videos. In America, we call this "Inside Baseball" for an experience that we do not have but wish to know about from an insiders perpective. Great video!
I would like to see more of this content. Too many people are unaware or simply don't care. Here in 🇨🇦, taxes are getting crazy as well. *Take this with a grain of salt as I may be wrong in some areas. They are talking about an exit tax (it may already be implemented), %65 tax on any properties you own, and a %50 tax on the sale of your home. For most people, like me, your home is your savings. The tide is turning and more people are waking up. However, our government keeps a pulse on this and moves accordingly lockstep.
Never thought of any country would practice the level of "abuse of taxation" until you explained about your home. Totally disgusted with politicians practicing greed driven BS'ery.
In South Africa if you are a business owner, make $100, you get taxed 28%, leaving you $72, if you take that $72 as income it is taxed at 30%, meaning you net $47 of the original $100. With the $47, if you use it to buy groceries you pay 17.5% VAT... meaning government takes a further $9 of your money in taxes. In total, of the original $100 YOU made: - Government gets $62 - You get $38 But it does end there. The $38 you used for groceries is income to the grocer. Right? He pays 28% of that to government in company tax... and if HE wants to draw a salary, he pays a further 30% income tax. So government takes $10 from the company, and $9 as income tax from the grocer... Meaning by this point government has taken 10 + 9 + 62 = $81 of the original $100! Why would ANY entrepreneur stay?
A lot can happen in a thousand years. Though to be fair, the best of vikings went on to become kings and queens in Europe, and continue to be to this day.
Norwegian women overwhelmingly vote Left. Men, also young men, increasingly vote Right. In the next major election, in 2025, the government very likely will be right wing (and Israeli friendly).
Because the rich people have the foresight to see that government socialist welfare is unsustainable. Especially when the best money makers and brightest (aka your best tax revenue) moves out. It's just a matter of time before Norway becomes USSR in the 1980s.
All of Europe is going to hell. Dutch citizens and businesses are also fleeing the country because they're taxed an regulated to death. We also get te law that you need to pay the Dutch taxes for 5 years after escaping the country.
As a former american (usa), not to be confused with anyone else. I thank you for this enlightenining uploud. I have share to everyone I have in my contacts.
Saddly. I do not expect any change to happen to your country, nor my prior country. Even after mr. trump. he is but a stopgap. Yet the pendulum swings. Always.
sorry, my auto-correct is disabled because i tried to include mx. (espanole) as part of launguage, has eliminated english as possible correct spelling. (uk or usa english..)
As a Swede I have always seen our country as tax insane but I do believe you my cousins take the price these days. What would your economy look like if the US didn't destroy the pipeline?!? Your gasfields are running at 110% to provide a dying Germany with power and making bank on that situation.
Great video. I enjoyed learning about the Norwegian socialist system. It serves as a warning to us here in the USA. The Scandinavian Utopia we hear about is not well understood by the average person. Thank you.
You would think it would be a bad idea to chase wealthy taxpayers out of the country. But then again this is 2024. I've never been much interested in politics outside of the United States. I started following what's going on in the UK 3 years ago. I'm interested in the goings on in other Western country's. I like these type of videos I find them fascinating keep making them
So why can't people just leave the country and not pay the exit tax. Once they're gone, They're gone right? I mean no country's going to extradite them over this. What power do they have to enforce that you keep paying this tax once you're completely out of the country?
Denmark is right wing by comparison to Sweden and Norway. They still have high taxes, but are business friendly in other ways. Also they are not welcoming to migrants
A lot on which to comment. For brevity: Sweden did away with property tax ( now a flat rate which is actually reasonable), gift taxes, inheritance taxes and fortune taxes. Sweden is not poorer for it and the Left lost the 2022 elections partly due to threatening a reintroduction of these taxes. The fortune tax “floor” is waaaaaay too low. That’s what drove the abolition of these kinds of taxes in Sweden. You could barely be financially comfortable and still get clobbered with these taxes. The real estate tax was especially bad because of the housing availability deficit. I still say that the wealthy should pay more in taxes and I am against flat taxes. The wealthy enjoy immense privilege and comfort by way of their wealth. That said, the aforementioned taxes hurt more than they help and those taxes do not make poor people or middle class people richer. That exit tax is bonkers. It will end in tears for the Left and for Norway. 👍 for this content. Right up my alley.
I takes two to tango. Women aren’t the sole contributors to the propagation of DEI and identity politics. Politically driven men as well as women have driven these intentionally socially divisive ideals to the extreme as we’re experiencing them today.
@@mosesa.weaver3058 No one said women. We could mean people who didn't serve or own land. Typically only land owners who can supply their own arms in time of need voted.
It's really simple, as a rule: if you don't serve a full term in the military, you don't get to vote or run for office. If you're not able-bodied, you get sent to some low intensity job out of combat. This weeds out people who otherwise don't belong in politics.
@@tillmanadkins713 It seems pretty obvious to me what he was referencing. It wouldn’t be the first time I’ve seen a comment worded almost exactly like this on these videos. Just with a little more context written in, if you know what I mean?
Yes i love videos like this. I studied in Edinburgh and lots of my friends were from Norway. Long time now and sad to say long time no contact with most. I was one Brit who saw Nordic countries as idylic, then i started to see the complexity of it all. Love learning about whats actually going on in countries. But this mania of mass migration of people to our countries in such short time. People who dont like, respect the country they enter or wish to assimilate/integrate into their communities. Sheer lunacy! Keep going André.
I've made the joke recently that Norway's fate is to become the Venezuela of Europe if you aren't careful. I hope things get better for you soon. Best of wishes from Sweden.
As an Australian, This explains both why the Mumintrallen never leave their valley anymore and also why Hattifatteners are practically extinct in Norway…. The exit tax was too much!
Please do more videos like this. I think the average Midnight's Edge viewer tunes in for business/finance/social analysis of pop culture. Though this isn't covering movies/Disney/Warner, this kind of content is invaluable. I know you just started the Retrospectives channel, excited for that. But maybe it's time to branch out into finance and economics with a different channel? I'd love to hear Andre talk to someone like Graham Stephan, for instance.
Great video! You presented it really well and would love more. I'm from the UK so know lots about what's going on here, and US as that stuff is covered everywhere. But I think we need to know more about what's going on in European countries. I had no idea what was going on in Norway. Thank you for bringing it to my attention.
🇨🇭 l am Suisse, l feel for Norway🇳🇴 but things are not better over here, for normal people. We heading straight into recession and big unemployment.. Switzerland 2025 is game over..Stay strong Norway🇳🇴
12:10 We have that here too in Switzerland... we have a minimum set of 100k for the fortune tax. Then you start to pay taxes no matter if you are a single person or a business.
If you can make multiple videos on just say (Scandinavian) politics, investing, and other such topics, one always could make a separate channel, MidnightSun Politics. lol
That said, I do like more of this format on a Eurocentic viewpoint since i am not from Europe myself.
If enough like and share this video that it does well, a separate channel with more content like this could very well happen.
That's a great idea! And a good name. Here in the US we seldom hear the truth about Europe.
@@DarlinAkaDarlene Or maybe you do not hear enough anti Europe propaganda for your taste? The general consesus is that America is best for rich people and Europe for poor people. The middle class vary based on your preferences I guess.
@@MidnightsEdge please do, we are in the same trap as USA were inn. best in world bs like happiest place on earth, so we have gotten complacent, if you could shine a light on Scandinavia and all the problems we have i believe would help to some degree
@@steinarvilnes3954 Is pointing out how Europe is rapidly heading down the hellishly authoritarian government route "anti-Europe propaganda"?
i am from Norway, i second everything he is saying.
I am canadian, and this kind of shit is happening here as well.
@@Nartanekdid the Jews left?Not yet?So you ok for now.They still got stuff to take from you.
Same here, 100% agree
Notice how there’s no push for more diversity in Israel?
@@Nartanek at least you have Pierre Poilievre
I love this kind of video. As a Brazilian who moved to Florida, I can understand what a overreaching government is.
How did you move to Florida ? Asking for immigration tips
@@Alex777-ei2qq I had it easy. My family is from Brazil, I was born in Hartford, Connecticut and grew up in Brazil after my parents divorce.
That fortune tax sounds like an anti-middle class tax. Punishing people for attempting to be not poor
Functionally, yes.
it was bad, they just decided to put it on steroids.
The problem in Norway is not any specific tax.
The problem is that there is ALL the taxes at extreme rates.
"But we have to take your money to make Dustborn sequels!"
If you've ever read "Basic Economics" by Thomas Sowell, one of the key points he keeps pointing out is that policies that are supposedly designed to help poor people typically hurt poor people the most.
@@SpaceJawa the problem in modern times is that it's practically UBI.
It's not enough that you can fulfill any dreams, but just enough that you can sacrifice your dream for comfort.
And that is how it hurts them.
Even Pewdiepie was surprised how fragile Swedes had become as he said “We used to be vikings for goodness sake “
Decades of emotionalism, virtue signaling, and unwillingness to face reality will do that to a society. As the old saying goes, "Weak men make for hard times."
Pewds doesn't really strike me as much of a macho man himself, but he's right - good times make weak men.
@@kgjung2310 Decades? More like centuries of Lutheran brainrot.
My sister married a Norgie and moved from the States to your country. She told me how wonderful it is and how everything is covered. She then mentioned how she drives 2 hours to Sweden every week to stock up on groceries and other supplies because everything is so expensive.
It still hasn't clicked with her.
That's a common experience in Norway. Yes, living costs are high here, but the real issue is the government's policies that make it even harder for businesses and individuals. The tax system, heavy regulations, and a focus on welfare over economic growth have created a tough environment, especially for entrepreneurs and the wealthy. High taxes, combined with expensive everyday goods, leave many feeling burdened.
On top of that, the welfare system, while extensive, has its flaws. For instance, even people with 100% disability are expected to work, which isn’t feasible for many. Disability benefits are modest and often not enough to live comfortably. For example, someone living with a spouse will have their benefits reduced because the system expects the partner to support them financially. This can leave disabled individuals in a difficult financial position.
Additionally, if you’re married, the government may take a portion of your benefits due to the combined income of the couple, which discourages people from relying on their partner’s support. It’s a system that, in many ways, makes it harder for families to thrive financially, especially when living costs are so high.
this is just a few of the insane policies in Norway
@frodehorgen2519 Jesus, I didn't realize it was that bad.
I guess your sister married a man with a better income. Then the reality isn't that bad... yet. Current policies doesn't have immediate effect, it takes time. 70% of norways population has a job and salary that is directly controlled by the government. There is very few "real private" jobs. The government is "very good" at micromanaging the economy. The government create tenders and hand them out to friendly companies that do their bidding. Everything is controlled to the last detail in an incredibly system.
If you know capitalism, like Mises, Hayek, Sowell, and all the "irrelevant" experts, then you know that the government make stupid decisions and create ineffective systems. It doesn't fall apart over night. It takes time.
There is already less jobs. Salary is not growing enough. There is tampering with statistics. The currency has crashed like 25%. Electricity price has exploded. The list is very long. There is no incentive to start a business or hire people any more.
The judicial system is taken over by EU. The laws are from WEF/USA/UN/EU. Everything is made expensive on purpose. Flat tyre? A simple patch is no no. 4 new wheels.
@frodej6640 Her husband is an officer in the military, so they get that government check in addition to her working. She also mentioned the electricity limits within her house when I offered her an old PC of mine. (Again, still has yet to click with her.)
Anyways, with what you've said, it's really no longer a question of if your economy will collapse, but when. I always thought the oil & gas industry was the only thing keeping Norway's head above water, but it's clear you have people in charge that are hell-bent on seeing your country drown.
@@Flession it wont collapse we have the wealth fund, but just like you we have to vote inn the right party. we have our own AOCs to deal with
Modern Norway is a disappoint to its ancestors.
Old Norway was famous for its vikings specifically because of its massive suck and draconic rulers. It turns out that competent people flee that sort of thing, and they have to go somewhere.
So according to you great people are the ones who travel to other countries to rape and pillage? Guess you love Somali immigrants then.
Well, Norwegian Govt is yes.
Yup 🇧🇻 🤡 ☹️
@@hyperguyver2 I mean, they used to go around and rob people of their wealth and livelihoods, so it still kinda checks out.
Not just Norway, ALL of Scandinavia,
Still considered one of the best place in the world to live though.
All of the western world
@@steinarvilnes3954 not a good argument. That’s an opinion poll, not factual analysis. Also, that’s right now (or whenever the latest poll is published), not the future outlook.
@@John-fk2ky And how better to know how people are doing? After all, why does more material wealth make people happier? Any proof of that?
@@steinarvilnes3954 Norwegians like living there. They have infinity welfare benefits due to their tiny population and insane amount of oil. Why the UK didn't just take all the North Sea oil I've never understand. Foreigners despise Norwegian culture and the cold but put up with it for the free kroner. Just like Minnesota.
I was born and still live in Norway and we have a very high tax rate, but we also have a lot of extra costs like municipal fees and something called a "TV license" which gives you a channel called NRK which not many people watch but is forced to pay for today even if you don't have a TV since they put it in the tax. They take 34% of the normal salary and if you don't have a tax card they will take 50% of your salary. If you have a home in Norway, it is easy to feel that after tax and deductions, you only have around 7-15% of your salary left that can be used for what you want which depends on the job you have. The food prices here have gone really high up these last years and the state refuses to find a solution to lower prices.
The state wonders why more than 40-60% of the population drives to Sweden to shop for food. If you try to buy 2 Kg chicken breasts in Norway the cheapest I've found costs 30 dollars and in Sweden, it only costs around 14-15 dollars (That's Half Price!) So the only thing the state thinks will solve this problem is to raise prices here in Norway even higher... For them, the solution is (High prices can only be solved with even higher prices) Sounds stupid because it is stupid...
If you have a large fortune, you must pay wealth tax. If what you have in your savings account and other things you own such as a house or car or shares does not exceed 1.5 million NOK (135 150 dollars today), you do not have to pay wealth tax. If you receive interest on your savings, you must pay tax on this gain. So now is even better to have an account in Sweden because there is no wealth taxes there. Norway is going to take itself out because of all the different taxes we have here.
The TV license was abolished almost 5 years ago, though we are still indirectly taxed for it because now NRK is paid directly from the state budget.
Also you didn't even mention VAT, which is 25% on (almost) everything. I hope you realise there are many countries and in the US many states that don't have a VAT at all.
This really reminds me of 70's Sweden, where the leading party, The Social Democrats got so cocky they ended up taxing business owners over 100%.
This lead to Astrid Lindgren (the children's author behind Pippi Longstocking) writing a short story about a greedy witch, aluding to the party in the biggest newspaper in the country. Mind you, Lindgren was up until that point a proud supporter of the party, and in no way a "greedy capitalist" who wanted all the wealth for herself.
Things changed a little bit for the better after that, but Sweden is still, just like Norway, not an easy country to become successful in.
Thank you for your the info. and insight m8, I did not know any of this.
That was not business taxes but personal taxes I believe? And why do only business leaders count? What about the hell about 25 percent of the lowest part of the population live in, in your belived pro business countries? Except Switzerland, but that is an edge case.
More people should look up the 70's Sweden socialist debacle.
For some reason they they think it is a socialist country. High taxes does not equal socialism.
@@steinarvilnes3954 The reason Lindgren could be taxed over 100% was that she was an author and, therefore, a private business owner. The common worker wasn't taxed nearly as much for obvious reasons.
The rest of your comment makes no sense, are you asking me if I want Sweden to become like Switzerland or what will happen with the poorest in the country with low taxes?
@@TGFalk I am not talking like Switzerland, but the US, Chile or Singapore. I simply do not see any country except Switzerland like that, that is liveable for almost everyone.
It seems to me that everyone that make it easier for succesfull people, also disdain weakness or even mediocrity.
A "socialist wall of shame" should be considered a "wall of honor of common sense".
Im sure they consider it that way.
lol, yes exactly, i was commenting the same 😀
Whoa there, cool it with the anti-semitism!
They're mad they couldn't leech them all in time
@@amalekedomite Im not seeing any Jews. You think the crazy blond commie is jewish? You cool it.
Anyone who has fantasies about Norway being a paradise to live in, has never had to deal with NAV.
Send Norway more migrants! Migrants love it there!
@@slee2819 Isn't that half the issue mentioned in this video?
@@TheREALSimagination Yes but the wokesters love migrants so they should get as many as they can get.
These are homogenous societies of sheltered people who are not net drains on the taxpayer. Its allowed the ruling class to develop their luxury, socialist beliefs because they force others to pay the bill.
Soon they’ll reach a tipping point of what the productive people are able or willing to pay for, then you’ll see a paradigm shift.
Damn straight man . NAV is a hellhole open from 12:00 to 12:01 and if you have a question the only way to ask that question is by phone or web . My securitas here will show you the way out
Some countries are trying to het rid of their food producing Farmers and Norway is trying to get rid of their entrepreneurs, Bravo Norway!
Its because they dont have a good production 😂😂😂
@@rasmusmeng2363 Does not matter, your either self sufficient or dead.
It's not like we are not going to have another massive EMP event again, we just don't know when as we have not had technology affected by it long enough to determine a probable interval.
It sounds like the UK bizarrely wants the farms that they will cause to go on sale to go to large equity funds.
They're screwing the farmers here too
As a Brit working on Norwegian oil rigs I'm endlessly mystified by the way Norway has managed to sleepwalk towards recession without addressing any of the problems. The signs are not yet really biting the internal economy but they will more and more. The idea that the oil fund will make everything OK is just madness...
Oh, but it will in the minds of the economically illiterate who see it's magnitude increase every time inflation increases (It is written in USD).
They get to spend a few more billions on the budget not realizing they lost an order of magnitude in tax revenue.
Norway's schyt idiotic government: "Let us enact a financial Berlin Wall."
Old Norway: Vikings, New Norway: Wokings
Old vikings raided and plundered foreign peoples.
New vikings raid and plunder domestic people.
That's funnier...
but I think "wokidiots" might be more accurate... and I don't mean just Norway.
Norway got mass converted to Christianity and lost their balls a thousand years ago. Then the black death killed most of the population and the royalty. Then they spent 500+ years owned by Denmark and then Sweden before they became independent again. Then they continued as a frozen backwater fishing village until they became the Beverly Hillbillies post WWII because of oil.
Amazing how profound a difference just two letters can make 🤦🏾♂🤷🏾♂
Gotta take "kings" out of it, though. "Woklings" could work
Time to make Norway great again
that'll be MaNGA lol
Good luck, with the wealth fund operating as it is that would require the USD to burn first.
We would need an economic disaster so brutal that shit becomes worthless.
And sadly, it is written in USD, so the worse our economy the more valuable it gets.
Those exit taxes are horrid, I remember hearing CA tried that once and it didn’t work well. Then again they had agents digging through people’s garbage looking for receipts. I liked this video and would watch others like it. I’m from Asia originally but living in the states. So hearing about different parts of the world and their economy is quite interesting. More so from someone who lives there.
Yes, Andre, these videos are awesome!!
Such a shame to see happen. California has been trying the same for many years, sending tax bills to folks long after moved out of state, such as my brother in law. Thank you for sharing, Andre. It is always nice to know what is happening elsewhere in the world and from a reputable source of many years now.
Yeah
Usually, Norway or Sweden pulls a California before California.
The socialist elitist ecco chamber is the same in all 3 places.
As a former Californian currently visiting the state for holidays: It’s terminal. The State is going to eat itself.
I visited Norway in the spring of 2017. During the trip I visited multiple museums, including the natural history museum in Oslo. It was somewhat shocking when there were signs all around the floor that containes all of the artifacts from the middle ages (tapestries, viking era swords, etc) stating that the exhibit would be closing to be replaced with an exhibit on climate change. Why am I going to a museum in Oslo to learn about climate change? I'm at the history museum for history.
While im not a fan of unrestricted capitalism, this is fucking insane and as a german living in the former communist part of my ocuntry, the erich Honecker comparison Was brilliant
“Unrestricted”, you use such nasty language! "[B]y directing that industry in such a manner as its produce may be of the greatest value, he intends only his own gain, and he is in this, as in many other cases, led by an invisible hand to promote an end which was no part of his intention. Nor is it always the worse for the society that it was not part of it. By pursuing his own interest he frequently promotes that of the society more effectually than when he really intends to promote it. I have never known much good done by those who affected to trade for the public good."
Unrestricted capitalism is better than restricted capitalism, with one caveat: so long as the corporations do not gain influence over the state. The problem with regulation is that it is used to cripple competition and benefit the wealthiest and most successful. Knowing this, the only restriction capitalism needs is for business to be unaffiliated and unaligned with the state. It is with the state's permission that monopolies form, because monopolies only exist in environments where the state puts its thumb on the scale to prevent the growth of competition in a free market.
@@Kanaleah The issue with unrestricted capitalism is the poverty of a large minority, bad working conditions, many not having access to healthcare and such.
Capitalism is simply the process of someone with capital making a present investment for future returns. The issue is that people have this bizarre tendency to confuse capitalism with human desire.
@steinarvilnes3954 Capitalism is an economic system based on private property. Not whatever marxist disinformation you are receiving.
Same situation in Sweden sadly. Finland isn't too far off either but I know Denmark has been changing course for the better these past years.
Norwegian here. Another banger of a video. And it gives a very nice and straight to the point explanation on current Norwegian tax, and economical policies.
Cheers 🍻
I DIDN'T KNOW THIS ABOUT Norway. Scary thing is this is where America could be heading if we don't get right.
We narrowly dodged this with Trump winning.
As a recent arrival to Norway (not an immigrant, I moved for work), I absolutely concur. The country's leadership is a complete mess and are unable to take a look at the problems the country faces objectively.
That's the very definition of an immigrant.
Oh, how closely related evil and stupidity are is more than I ever could've dreamed.
People have become so lazy they believe stupid things so they can feel virtuous and pat themselves on the back even though they’ve accomplished nothing. This begets their pride. Then they feel they can do no wrong. And then they pave the road to hell with their stupid intentions.
As a aussie I shrug and say yeah….. The land down under is at least as f-d up.
This year they started taxing unrealised gains on the mandatory (largely union controlled) private retirement funds.
In lay terms (not inflation indexed don’t forget) if you have more then $3million in your (mandatory) retirement fund they will tax it.
After it’s been taxed on the way in as the contributions are part of your pre tax income.
Oh and they’re fixed too, if you go beyond a certain amount it’s re-taxed as income (headline rate in 34%).
The state I’m in PDRV (peoples democratic republic of Victoria) will be $268billion in debt within 5 years. The Independent parliamentary budget quango gave up after that mumbling he doesn’t know how….
The mind virus has taken over all of the Western world, sadly. Oz is definitely on the same path as the Nordic countries.
Australia is a communist state now
My great grandfather came from Norway he was peder Pederson and settled in 1900 in Minnesota changing his last name from Pederson to Peterson where I get my last name
This would have been our fate under Kamala. Remember when Obama was asked about a tax increase that was likely to bring in LESS revenue?.. (wrong side of the Laffer curve) and he said he would be for it anyway?... That's because he wasn't raising the tax for the ostensible reason (more revenue, more redistribution, more gov programs) ... It was meant to be punitive. The "equity" folks who actually know what that means, understand that equity equalizes downwards.... and they don't care
Sverige här - Jag tror västvärlden behöver Trump
The west needs to wake up and realize who has been pushing this crap ✡️
Every country do
@@BARLINDBOTN Yeah, we need to get our act together, hopefully influence from the US will make things happen!
Didn't California also levy a BS exit tax as well?
They tried.
@@seecomer4599 And no doubt they are still trying.
They would like to. But multiple experts have already stated that an exit tax would not stand up in U.S. courts.
California’s chickens shall come to roost.
Wait.... You mean the Property taxes paid by American's is seen as extra evil Norway?
I just had to pay $2400 for the joy of not being homeless and I didn't get to deduct my mortgage.
We have property tax as well, the fortune tax comes on top of that!
go watch michael bodanero. he interviewed a few real estate lawyers.
qrd: you need raise the issue with your state to have it in writing that you don't agree with the evaluations, with the result of getting turned down.
what's important is the documentation and disagreement not the result.
@@leoSaunders Parents fought this before and we ended up losing and had to pay the states legal fees (court fees) on top.
@@tillmanadkins713 I can't tell you all the minutiae but there seems to be a movement going on now where a collective is fighting PT. maybe you already did your part and just need to annex.
I suggest you to go watch these Michael videos.
As an Argentinian who proudly voted for Javier Milei, I must tell you this: he won mainly because our country was so mismanaged, that SOMEONE had to deal with it, and only an outsider like him could. He is doing an amazing job.
The bad news is that it took us 20 years to understand that socialism is bad, and I’m quite pessimistic about this. My fear is that in Norway will only learn the harsh way that socialism only brings misery, unless a Norwegian Javier Milei manages to convince most of the population that their ways are wrong and need to return to capitalism, that is.
I love your channel, keep talking about your country more often, Andre. Best of luck to you and the people of Norway.
so amazing that half the country eats out of dumpsters now
I sincerely wish all success to Javier Milei, I am Brazilian and I see that we are drifting back to the 1980s hyperinflation. We need a shinny example on what can be accomplished by a libertarian government so we too can vote on a Brazilian Javier Milei.
@@mervstash3692Half of the population was already eating from the dumpsters 20 years ago. We finally have someone who is trying to fix a broken economy, can’t say the same of previous governments. Instead of speaking without knowing anything about what my country has been, I suggest you at least investigate for yourself first, to understand why we are where we are, so you don’t make the same mistakes as us.
Amazing job, more than half the population in poverty?
@@the_princeps.3452 20 years ago was the aftermath of the last free market president Menem I guess?
Norway could have been a great place to live and do business, but no. Only the STATE is to be rich, the rest of us get to live in a dystopia that hates freedom and economic growth.
Which countries do you think is so much better to live in then?
@steinarvilnes3954 That is an interesting question. However, it's not really the issue. I live in Norway and will continue to do so, so I'll just have to suck it up, won't I?
@@GreenKnight2001 But is sounds interesting you complain, and still cannot find a better country? Especially if you want one without retarded politicans.
@@steinarvilnes3954He should just shut up and enjoy his socialist utopia, eh?
@@trevorrogers95 So some suffering is needed for you to get an erection?
Would say this is VERY important and needs to be talked more about. Scandinavia can be a wonderful place, but if the governments are this careless and stupid, people need to be made aware of it.
Is that the same Norway ALL the women took the day off from and the country ran better?
Yeah....sounds about right.
😂
Nah that was Iceland.
Let's say you want to retire with income of $80k. Rule of thumb is that you can withdraw 4% of your savings, meaning you need to save $2M to get that retirement.
But with a fortune tax of just 1%, that's $20k/yr being taken from your nest egg. You don't have enough to retire anymore. Instead, you have to save $2.67M or a third MORE than what you would have had to save before. *But it's WORSE than it sounds.*
The tax is a hole draining your retirement bucket as you try to fill it. If you start saving $5k/yr, increase it by 3% each year (assuming raises), and earn 8%/yr, you will have $2M after 40 yr. But if your savings get taxed at 1% of their value each year--and being generous let's consider ONLY the amount over $170k--you only have $1.7M after 40 yr. It takes another 2.5 yr to get to $2M. But you need to get to $2.67M, so you actually have to work & save for 46 yr instead of 40 yr. It's like raising your retirement age from 65 to 71.
(These calcs ignore income tax. So it's actually much worse.)
Wow!
There is a reason why I feel alienated in my own country. I am grateful for the help I've got but it's still near impossible to have any opportunity to build anything of your own without being taxed into oblivion. It does not help the fact that the birthrate is taking a nose dive alongside the immigration policies they are enforcing. Not to mention the superficial social situations and lack of any true connection. This is a zombie society, we are already dead. There is no denying it.
What rich countries have such great birthrates then?
Most so called first world countries have low birth rates that they find worrying.
@@steinarvilnes3954 decline in birth rates is due to feminism, birth control culminating in giving women's rights inflating their egos and sense of values. Which means its global.
An exit tax is a monumentally stupid idea because it increases the risk for future investors. No one is going to want to take the risk of bringing their business into Norway if they have to add a 37% penalty tax on top of the possibility of the venture not being profitable.
Don't worry, you must be living in Norway.
It's not like the companies disappeared along with the biggest boys moving to Switzerland.
Just the pressure on the company to produce 2-3% of it's total value just so the owner can pay the damn fortune tax.
@@torgrimhanssen5100 That's not what the video said. A company would be taxed 37.8% of the value of everything a company owns in Norway prior to leaving. Meaning that if you're a foreign investor that spent money to set up a business in Norway and it fails, they will tax you 37.8% of your investment to close shop and leave.
@@OmegaZyion Not sure where the confusion is.
You can't own a company in Norway, be Norwegian and live in Norway.
As long as you don't live in Norway, no problem, if your not Norwegian, even better for the companies tax burden.
@@torgrimhanssen5100 Maybe it has something to do with owning property in a country means you are subject to the same tax laws as everyone else in that country. Y'know, like how 99% of the world does it.
@@OmegaZyion "No one is going to want to take the risk of bringing their business into Norway" I think your confusing your own context.
The exit tax, fortune tax etc. won't affect a foreign investor building a company in Norway.
Foreign investment is fleeing for a different reason.
I lived in Norway, Stavanger to be precise, for 6 months back in 2007. I absolutely loved the country, even though I could only travel during the winter, when Norwegians were even more shut-in and not particularly friendly. Back then, I could definitely back the idea of 40%+ taxes (how naïve, I know), because I could see the money wherever you went. Taxes were used to improve the life of the folk. It saddens me deeply to see that this is no longer the case.
I really loved Norway when I was there
20 years ago
I second this. I still have some close relatives there and I dread visiting them. Oslo in particular is a dystopian mess of tagged buildings and trains, unimaginative, bleak modern architecture and random street crime. No thanks! Or in my dialect, Eg takker nei!
Norway has seriously declined in a lot of ways over the last two decades, culturally, socially, economically, demographically. It's gotten to the point that I don't recognize my own country any more.
Do you think that Jantelaagen could have anything to do with it? That concept that's valid all over Scandinavia that consists of 10 rules that basically all come down to: "Don't stand out, don't try to be special, stay in your lane, don't excell"?
Indirectly yes - because that allowed us be taken over and governed by a ruling class that do not serve the people.
@@MidnightsEdge Where to government serve the people better?
Need to lower the background music a little for headphone users. Good video
The commentaries from Andre and Midnight's Edge Team are always on point.
There are some of the same tax tendencies in Denmark as well.
I was in Norway twice during the 00's, both for work (born and raised in the US midwest, live in TX). I enjoyed it immensely, such a beautiful country IMO. Each time my colleagues were enamoured with the society and how relaxed people were overall, no hustle and bustle it seemed like the US - public transportation, gov't mandated holidays in some cases, etc. My boss (from CA) and I got into a debate - his side, wouldn't you pay 50% or more of your income just to live this kind of life every day? I said, no, because everyone seemed to live the same life, there's not much incentive to improve individually, people seemed OK with what the gov't says, I'm just not built that way - and who will stop them from demanding more? Same when I was in Brussels for two months in the 10's, I was shocked to see people line up for some sort of mandated payout that came every month (some stipend, can't remember what it was) the company was required to pay.
Of course a Californian would say that lol
But why is the ability of a select few to "improve" so much more important than other people surviving? The US is the only rich country with a falling average lifespan.
As a Norwegian i would like a lot to change, ive voted for Fremskrittspartiet every time we had a election, unfortunately it doesn't seem to matter if one side wins with 40% of the votes, the smaller parties just make an alliance and get majority, Norway would need to get laws changed stating that whoever gains the most votes have their cases approved, otherwise the 15 other losers just make an alliance that has 1-2% more and what the people wanted no longer matters, also our ecological party doesn't even know that potatoes are grown in the dirt
Why not move to the US then?
19:50
LOL, I know EXACTLY where that picture was taken.
Yes, more of these videos. In America, we call this "Inside Baseball" for an experience that we do not have but wish to know about from an insiders perpective. Great video!
I would like to see more of this content. Too many people are unaware or simply don't care. Here in 🇨🇦, taxes are getting crazy as well. *Take this with a grain of salt as I may be wrong in some areas. They are talking about an exit tax (it may already be implemented), %65 tax on any properties you own, and a %50 tax on the sale of your home. For most people, like me, your home is your savings. The tide is turning and more people are waking up. However, our government keeps a pulse on this and moves accordingly lockstep.
Never thought of any country would practice the level of "abuse of taxation" until you explained about your home. Totally disgusted with politicians practicing greed driven BS'ery.
I feel bad for your country right now Andrei. 🇧🇻 ☹️
In South Africa if you are a business owner, make $100, you get taxed 28%, leaving you $72, if you take that $72 as income it is taxed at 30%, meaning you net $47 of the original $100.
With the $47, if you use it to buy groceries you pay 17.5% VAT... meaning government takes a further $9 of your money in taxes. In total, of the original $100 YOU made:
- Government gets $62
- You get $38
But it does end there. The $38 you used for groceries is income to the grocer. Right? He pays 28% of that to government in company tax... and if HE wants to draw a salary, he pays a further 30% income tax.
So government takes $10 from the company, and $9 as income tax from the grocer...
Meaning by this point government has taken 10 + 9 + 62 = $81 of the original $100!
Why would ANY entrepreneur stay?
How the hell you guys went from being vikings to being ruled by angry karens is beyond me. Good luck out there fixing this.
A lot can happen in a thousand years. Though to be fair, the best of vikings went on to become kings and queens in Europe, and continue to be to this day.
giving women's rights. Feminism. Female ideas. eg. socialism. etc
Norwegian women overwhelmingly vote Left. Men, also young men, increasingly vote Right. In the next major election, in 2025, the government very likely will be right wing (and Israeli friendly).
@Midnight's Edge I would be interested in a video comparing Norway to Sweden's economic/financial policies.
Jens Stoltenberg straight from Nato and right over to become Head of the Bilderberg group. Quisling must be his rolemodel to say the least...
Well he was named after a traitor..
What's stopping the rich people from just closing up shop and just live off of government socialist welfare?
Because the rich people have the foresight to see that government socialist welfare is unsustainable. Especially when the best money makers and brightest (aka your best tax revenue) moves out. It's just a matter of time before Norway becomes USSR in the 1980s.
Because they like to have more than the bare minimum, plus, their internal drive.
But when have that actually happened anywhere though?
There's far too much of that here in the United States.
@@MJanovicable This just seem like a unrealistic claim.
All of Europe is going to hell.
Dutch citizens and businesses are also fleeing the country because they're taxed an regulated to death.
We also get te law that you need to pay the Dutch taxes for 5 years after escaping the country.
Anarchocapitalism is not anarchism.
As a former american (usa), not to be confused with anyone else. I thank you for this enlightenining uploud. I have share to everyone I have in my contacts.
Saddly. I do not expect any change to happen to your country, nor my prior country. Even after mr. trump. he is but a stopgap. Yet the pendulum swings.
Always.
sorry, my auto-correct is disabled because i tried to include mx. (espanole) as part of launguage, has eliminated english as possible correct spelling. (uk or usa english..)
@@Stalazon Yes, it is really bad people want healthcare without going bankrupt.
Now this is my day better!
I like Tom
As a Swede I have always seen our country as tax insane but I do believe you my cousins take the price these days. What would your economy look like if the US didn't destroy the pipeline?!? Your gasfields are running at 110% to provide a dying Germany with power and making bank on that situation.
I think US gave the word, then we did the deed ... the people have never seen one øre of all that extra money though.
Norway, ore like Noway, amirite?
Great video. I enjoyed learning about the Norwegian socialist system. It serves as a warning to us here in the USA. The Scandinavian Utopia we hear about is not well understood by the average person. Thank you.
You would think it would be a bad idea to chase wealthy taxpayers out of the country. But then again this is 2024. I've never been much interested in politics outside of the United States. I started following what's going on in the UK 3 years ago. I'm interested in the goings on in other Western country's. I like these type of videos I find them fascinating keep making them
But what is so much better in the US for average or below people?
So why can't people just leave the country and not pay the exit tax. Once they're gone, They're gone right? I mean no country's going to extradite them over this. What power do they have to enforce that you keep paying this tax once you're completely out of the country?
Tax treates with other countries.
Socialism is the great blight of humanity
So, Norway became Brazil. How nice. Edit: actually, it looks worse.
Businesses in Norway are so poor they can't afford to buy vowels for all their words!
Its Scandinavia in general
Denmark is right wing by comparison to Sweden and Norway. They still have high taxes, but are business friendly in other ways. Also they are not welcoming to migrants
I'm Canadian..... we're unfortunately on the same path!! I've already left.
A lot on which to comment. For brevity:
Sweden did away with property tax ( now a flat rate which is actually reasonable), gift taxes, inheritance taxes and fortune taxes. Sweden is not poorer for it and the Left lost the 2022 elections partly due to threatening a reintroduction of these taxes.
The fortune tax “floor” is waaaaaay too low. That’s what drove the abolition of these kinds of taxes in Sweden. You could barely be financially comfortable and still get clobbered with these taxes. The real estate tax was especially bad because of the housing availability deficit.
I still say that the wealthy should pay more in taxes and I am against flat taxes. The wealthy enjoy immense privilege and comfort by way of their wealth. That said, the aforementioned taxes hurt more than they help and those taxes do not make poor people or middle class people richer.
That exit tax is bonkers. It will end in tears for the Left and for Norway.
👍 for this content. Right up my alley.
Typical Communist
Not ME’s fault, but the ads on RUclips have gone crazy.
I work in Norway and I earn 40% more then if I did the same in Sweden.. and I also have tax of 43%🤪
That fortune tax is like an inheritance tax every year. Bureaucratic thieves.
Alternative for Norway 2025!!!
Sorry to hear of what is happening in Norway, here in the UK. We are just starting along a very similar path unfortunately 😞
Remember the Vikings? They don't exist anymore
They figured out they could raid other companies with taxes.
The Vikings moved to USA. You have more people of Norwegian ancestry living in USA, than in Norway.
True. Especially in the Midwest. Hansen is a very popular last name.
I though Norway was meant to be the most sensible Scandinavian country 😥
Taxed into oblivion.
Brilliant video, Labour in the UK is bringing us this way as well. Madness!
I'm sorry, but... a certain demographic should be kept out of politics! We figured this out eons ago, but we forgot.
I takes two to tango.
Women aren’t the sole contributors to the propagation of DEI and identity politics.
Politically driven men as well as women have driven these intentionally socially divisive ideals to the extreme as we’re experiencing them today.
@@mosesa.weaver3058 No one said women. We could mean people who didn't serve or own land. Typically only land owners who can supply their own arms in time of need voted.
It's really simple, as a rule: if you don't serve a full term in the military, you don't get to vote or run for office.
If you're not able-bodied, you get sent to some low intensity job out of combat.
This weeds out people who otherwise don't belong in politics.
@@tillmanadkins713
It seems pretty obvious to me what he was referencing.
It wouldn’t be the first time I’ve seen a comment worded almost exactly like this on these videos.
Just with a little more context written in, if you know what I mean?
Yes i love videos like this. I studied in Edinburgh and lots of my friends were from Norway. Long time now and sad to say long time no contact with most.
I was one Brit who saw Nordic countries as idylic, then i started to see the complexity of it all. Love learning about whats actually going on in countries.
But this mania of mass migration of people to our countries in such short time. People who dont like, respect the country they enter or wish to assimilate/integrate into their communities. Sheer lunacy! Keep going André.
Imagine simping for billionaires! I'm sure Musk and Co will save you a seat on the Mars Express when Earth becomes a desolate wasteland.
My Dad is a Norwegian immigrant to the US, and I’ve already heard much of this as being some of the many reasons he doesn’t want to go back.
I've made the joke recently that Norway's fate is to become the Venezuela of Europe if you aren't careful.
I hope things get better for you soon. Best of wishes from Sweden.
Sweden has room to talk?
@@Vandelberger They do on this particurlar topic. You can say a lot about Sweden, but Dustborn didn't come from them!
As an Australian, This explains both why the Mumintrallen never leave their valley anymore and also why Hattifatteners are practically extinct in Norway…. The exit tax was too much!
I am astounded. I though the German tax system was bad, but it seems to be a free market utopia compared with the Norwegian tax system.
That was a great video, but very sad. Norway is a beautiful country. I’m sorry to see the way it’s gone.
Taxes feel too high in the US. Norway sounds like a nightmare!
Great video! It is good hearing of the political struggles in countries that don't have a large international presence in the public space.
Please do more videos like this. I think the average Midnight's Edge viewer tunes in for business/finance/social analysis of pop culture. Though this isn't covering movies/Disney/Warner, this kind of content is invaluable. I know you just started the Retrospectives channel, excited for that. But maybe it's time to branch out into finance and economics with a different channel? I'd love to hear Andre talk to someone like Graham Stephan, for instance.
Great video! You presented it really well and would love more. I'm from the UK so know lots about what's going on here, and US as that stuff is covered everywhere. But I think we need to know more about what's going on in European countries. I had no idea what was going on in Norway. Thank you for bringing it to my attention.
Norway also financed a 'study' to find out if white paint is racist. 😒
Please tell me you're kidding although that's just me wishing they weren't that nuts.
So far, I enjoy your takes on these kinds of issues, too. You have real talent. Keep them coming!
A 50% income tax? A bold strategy Cotton; let's see if it pays off for them.
Midnight's Edge Thanks for the video. It was cool learning about a foreign land.
🇨🇭 l am Suisse, l feel for Norway🇳🇴
but things are not better over here, for normal people. We heading straight into recession and big unemployment.. Switzerland 2025 is game over..Stay strong Norway🇳🇴
12:10
We have that here too in Switzerland... we have a minimum set of 100k for the fortune tax.
Then you start to pay taxes no matter if you are a single person or a business.