norway funds everything by a state controlled oil industry
this post was submitted on 25 Feb 2025
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Other First World Countries: Hey, look at how we handle these problems. It's working out great for us. We've created an outline you could follow to improve your situation, America.
America: drools and continues trying to put the square block in the round hole
I've had this exact discussion with people.
My second favorite kind of conservative:
"Let's do a UBI instead of all this commie welfare stuff! But also lower billionaire and corporate taxes to zero! Why won't someone do something about inflation?"
UBI is a good policy fight me
Sure, if it's tax supported. By a tax designed to prevent billionaires from existing.
"If we don't cater to the billionaires they will leave and take their money"
Oh no... Please... Don't go. Noooooo.....
it's a myth anyways. Gary Stevenson talks about it. ultra rich people are rich because they own physical assets that society (businesses and individuals) must pay them to rent or use. you don't have to be a resident of a place to invest in it, you can drop cash into places from anywhere. in other words, where money gets invested is NOT dependent on where the investor lives.
it's naive to think that a billionaire who leaves the country will just walk away from say, a lucrative oil drilling operation or a supermarket chain or a new skyscraper or a data center... simply because they don't live there? even if they choose to avoid US opportunities, other investors will come along to snatch it up.
billionaires can change countries and move anywhere in the world, but they can't take a stadium or an office building or a football team with them. the productive resources (factories, shops, commercial buildings, apartments) that enable wealth generation and contribute to gross productive capacity each quarter, aren't portable.
the physical resources and tools of production will still be here, the parasites who extract rents from them will not. besides, plutocrats don't pay any income or wealth taxes, so it's no net loss whatsoever.
Instead of stay and steal OUR money
Here's the thing. They kind of do have socialism. The government has a controlling interest in their biggest industry. They also have a government that is very responsive to the people. I'd argue they have one of the most successful examples of socialism in the world.
They don't advertise it. I've seen a right wing guy identify them as such, and then praising the Anders attack from 20 years ago as punishment for their socialism. I think it was the chinless guy who follows Theil around.
The Norwegian government has 60 to 70% of the shares in Equinor, and all oil companies on the Norwegian continental shelf had to provide daily and monthly drilling and boring reports, and the companies are taxed heavily.
Source: worked on the software that was used for these reports, and I'm Norwegian.
