09-20-2017, 01:51 AM
(09-19-2017, 02:46 PM)TheLeonardLeap Wrote: Norway is one of the most heavily taxed countries on the planet with personal income tax around 55%.
Meanwhile the government has a Sovereign Wealth Fund that has reached $1t after only 20 years of existence.
http://www.businessinsider.com/norway-sovereign-wealth-fund-tops-1-trillion-2017-9
Keep in mind that Norway only has a population of 5.2m people. So while they're being taxed at one of the highest rates in the world, the Government is sitting on a fund worth $192,300 PER CITIZEN.
That means the average person could have been taxed $9,600 less per year since this fund was made, and they wouldn't have any debt from it.
Giving 55% of everything you make right off the bat in income tax, then another 7% on anything you purchase for sales tax, then add in your social security contributions (~9%), and add on a tax of your net wealth once that's all done, and it turns out you're just a serf working hard in order to make the government be able to sit on $1t after 20 years.
That's madness.
So Norway has a surplus of $192K/citizen while the US has a deficit of $154K/citizen and we're criticizing them?
Without looking. I'll bet the average American worker works more and vacations less than they do as well.
