[vidarh]

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

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

[freefaler]

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

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

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

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

[vidarh]

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

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

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

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

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

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

[freefaler]

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

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

[vidarh]

Taxes are levied on all kinds of things that are not economic activity. Including, in Norway, on ownership.

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

Even if it was that simple, that does not provide even a correlation - much less causation - with wealth taxes, which Norway has had for decades. E.g. we'd expect to see changes corresponding with changes in the wealth tax rates.

[freefaler]

Yes, I agree with you that taxes can be levied on property too, but to pay for those taxes economic activity is needed. I don't see how it's different though.

Companies and people need to generate money to pay for these. Profits are created by economic activity. When you increase the risk for companies to die by creating a cost that is not easily planned you decrease your future revenues. just basic math...