Don’t you just hate having all these bothersome start-up companies in your country, creating new jobs and new investment opportunities? Norway sure does, but good news: they’ve found an almost perfect way to not only deter existing entrepreneurs but to punish those who try to leave after they’ve been successful:
Norway is a fantastically beautiful country, but lately they’ve decided they want as few new companies as possible.
“Norway” by Nouhailler is licensed under CC BY-SA 2.0 
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Norway’s entrepreneurs are disappearing. In the past two years alone, 100 of Norway’s top 400 taxpayers, representing about 50 percent of that group’s wealth, have fled the country to protect their businesses.
In Atlas Shrugged, Ayn Rand paints a vivid picture of a dystopian society where government overreach and socialist policies kill innovation and demonize entrepreneurs. Present-day Norway mirrors this scenario in unsettling ways. The Nordic countries have long operated on an egalitarian ideal—citizens pay high tax rates for a generous safety net and effective public services. But Norway has taken the ideal to destructive and bizarre extremes.
Norway spends 45 percent more than Sweden on healthcare per capita with approximately the same health outcomes. Norway spends 50 percent more than Finland on primary and secondary school with worse results. And it splurges on green virtue-signaling with, for example, a $3.2 billion offshore wind project that industry experts believe is financially unworkable. That $3.2 billion, by the way, is roughly equivalent to the total revenue raised by the wealth tax.
To socialist politicians in Norway, entrepreneurs are mere piggy banks to be raided for ever more spending. When confronted with the reality that you can’t pay taxes with money you don’t have, the response is a vague moralism like “those with the broadest shoulders must bear the heaviest burdens.” Any dissent is waved away, deemed invalid because. . . free healthcare.
Earlier this year, instead of scaling back the tax blowout, the government doubled down, not only increasing the wealth tax but adding a vise grip on business owners in the form of an “exit tax” on unrealized gains as well. That means if you move from Norway, you’re immediately liable to pay 38 percent of the market value of your assets. It doesn’t matter if you have no cash on hand, if your assets are risky and could plummet in value, or even if your company fails after you leave—you still owe the tax. (Luckily for me, I left before this tax became law.)
The intent is to corral entrepreneurs inside Norway, impeding them from heading for the exits. The inevitable result: They’ll leave even before starting their businesses. After shooting itself in one foot, the government is now aiming a bazooka at the other one.
