iiinova — where your digital self keeps evolving

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Jake Grumbach @jakemgrumbach.bsky.social · 09/10/2026

New working paper: the Norwegian wealth tax was a huge success. The "exodus" of wealthy people never happened (less than 100 individuals left). Tax revenue increased by 71.5%. No changes in business activity or investment. www.nber.org/papers/w35854

Taxing Entrepreneurial Wealth: Evidence from
Norway, 2021-2025
Marius A. K. Ring
WORKING PAPER 35854|
DOl 10.3386/w35854
ISSUE DATE October 2026
Whether imposing higher taxes on business owners adversely affects business activity by constraining investment and inducing capitalist flight is a central question in the ongoing debate on how to tax the ultra wealthy. To shed new light, I exploit a series of related Norwegian reforms during 2021-2024 that increased dividend tax rates, removed migration-related capital gains tax loopholes, and nearly doubled the effective marginal tax rate on business wealth. These reforms spurred international debate and, allegedly, an "exodus" of Norwegian billionaires (Financial Times,
2023). While I document clear effects on migration, these responses are concentrated among the top 0.1% of the wealth distribution and mostly confined to 2022 and 2023. My results indicate that at most 100 individuals left due to the reforms. I find no evidence of significant outmigration or reduced inflows of startup founders or inventors. I estimate that absent any outmigration, wealth tax revenues would have increased by 75% from 2021 to 2024. Reform-driven outmigration lowers the revenue gain to 71.5%. My findings further show that outmigrating owners' firms remain economically active and do not reduce investment. In a broader set of analyses, I examine whether business outcomes are affected, regardless of whether owners outmigrate, since firms may reduce investment both due to liquidity constraints or distortions to owners' savings decisions. I compare firms owned by Norwegian individuals subject to the wealth tax with firms owned by foreigners and other tax-exempt entities. By merging historical ownership data from Orbis with the Norwegian shareholder register, I perform these analyses on both Norwegian and foreign-domiciled firms.
Across settings, I find no evidence that Norwegian-owned firms pay out more dividends or invest less after the reforms,…

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James Hell Brooks @kleinman.bsky.social · 09/09/2026

For the past two years I've been tracking every bill proposed in state legislatures across the country to figure out what Republican plans for the future are. The answer, based on these 1,182 bills, is that they want to repeal the 20th Century heartlandsignal.com/2026/09/09/b...

heartlandsignal.com

Proof from the states: the right wing attempt to repeal the 20th century – Heartland Signal

Republicans are in Dallas this week making the case that the other side is the extreme one. We read the legislation they introduced in all 50 states and built a searchable record of what we found: 1,1...

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James Medlock @jdcmedlock.bsky.social · 09/10/2026

I'm taking my "Norway's wealth tax didn't reduce tax revenue" victory lap.

Whether imposing higher taxes on business owners adversely affects business activity by constraining investment and inducing capitalist flight is a central question in the ongoing debate on how to tax the ultra wealthy. To shed new light, I exploit a series of related Norwegian reforms during 2021–2024 that increased dividend tax rates, removed migration-related capital gains tax loopholes, and nearly doubled the effective marginal tax rate on business wealth. These reforms spurred international debate and, allegedly, an “exodus” of Norwegian billionaires (Financial Times, 2023). While I document clear effects on migration, these responses are concentrated among the top 0.1% of the wealth distribution and mostly confined to 2022 and 2023. My results indicate that at most 100 individuals left due to the reforms. I find no evidence of significant outmigration or reduced inflows of startup founders or inventors. I estimate that absent any outmigration, wealth tax revenues would have increased by 75% from 2021 to 2024. Reform-driven outmigration lowers the revenue gain to 71.5%. My findings further show that outmigrating owners’ firms remain economically active and do not reduce investment. In a broader set of analyses, I examine whether business outcomes are affected, regardless of whether owners outmigrate, since firms may reduce investment both due to liquidity constraints or distortions to owners’ savings decisions. I compare firms owned by Norwegian individuals subject to the wealth tax with firms owned by foreigners and other tax-exempt entities. By merging historical ownership data from Orbis with the Norwegian shareholder register, I perform these analyses on both Norwegian and foreign-domiciled firms. Across settings, I find no evidence that Norwegian-owned firms pay out more dividends or invest less after the reforms, nor is there any evidence that the reform induced more bankruptcies. ...

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Andy Craig @andycraig.bsky.social · 09/10/2026

Hegseth got the job not because of his clown antics on Fox News but because during the first term he made it his personal crusade to get Trump to pardon war criminals who had murdered civilians and desecrated corpses. That’s who he is and it’s what Trump hired him to be.

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Dare Obasanjo @carnage4life.bsky.social · 08/10/2026

The Trump administration just suspended Microsoft from sponsoring green cards, claiming it laid off 6,000 Americans while getting 6,300 H-1B approvals. Essentially this is the government saying tech companies will be penalized if they lay off Americans over foreign workers. It’s finally happened.

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Radley Balko @radleybalko.bsky.social · 05/10/2026

Just a reminder: Tillis persuaded the woman Hegseth allegedly raped to come forward with her story, and told her that if she did, it would sink the nomination. She did. At great risk to herself. Tillis then cast the deciding vote for Hegseth. Because he’s a goddamned coward.

ms.now

Outgoing Sen. Tillis regrets pivotal vote for Hegseth: ‘He’s an actor. He’s not a manager’

Outgoing Sen. Thom Tillis spoke to MS NOW about regretting his vote to confirm Pete Hegseth and his strained relationship with Trump.

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Don Moynihan @donmoyn.bsky.social · 05/10/2026

A 10K contribution and a $900 million return. The scale of the graft in Homeland Security is a) off the charts and b) possible because no-one believes they will face any accountability

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Rodger Sherman @rodger.bsky.social · 23/09/2026

Tough competition of course, but the Trump admin deciding that white South Africans are the only group of people on earth currently worthy of refugee status has to be the most overtly racist thing any administration has done in decades

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MPR News @mprnews.org · 22/09/2026

Schools across the state started offering free breakfasts and lunches to all students in the fall of 2023. The number of students eating school lunch went up 15 percent the first year. The number of kids eating breakfast at school went up 40 percent.

mprnews.org

Fewer skipped meals, less stigma: New data on the impact of Minnesota’s universal school meals

A trio of new studies shows Minnesota’s universal school meals program is providing a sense of relief to Minnesota families and students who are no longer skipping lunch and worrying less about family...

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Carl Quintanilla @carlquintanilla.bsky.social · 16/09/2026

“.. J.B. Hunt doesn’t typically provide explicit financial guidance. But the company is experiencing ‘some of the most radical and abnormal swings in fuel prices’ ever.” @barrons.com $JBHT www.barrons.com/articles/jb-...

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Carl Quintanilla @carlquintanilla.bsky.social · 15/09/2026

LEVINE: “.. It is a little strange that an industry is overwhelmingly saying ‘regulate us, otherwise in our pursuit of mammoth profits we will kill everyone,’ and the US government is like ‘nah we’d rather you have the profits.’” @matt-levine.bsky.social www.bloomberg.com/opinion/news...

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Dare Obasanjo @carnage4life.bsky.social · 15/09/2026

Google researchers have joined the party, AI panic is spreading across frontier AI labs like measles. Unfortunately there are no adults in the room in either the government or at these companies who can act responsibly and address everyone’s fears.

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Jay Willis @jaywillis.net · 15/09/2026

Genuinely an insane paragraph from Sam Alito. “Voter fraud is real and scary and we have to stop it, so the fact that implementing Trump’s mail ballot rule will disenfranchise millions is legally irrelevant.” Brain melted. A right-wing podcaster in a robe. www.supremecourt.gov/opinions/25p...

___, (slip op., at 9) (internal quotation marks omitted).
As for the equities, the Government has a strong interest
in enforcing the rule, and implementing it will also “en-
hance the visibility of Federal Ballot Mail” in order to better
detect election fraud. 91 Fed. Reg. 54972. On the other side
of the balance, the plaintiff States invoke the practical ef-
fects of implementing the rule close to the midterm elec-
tions. I take that problem very seriously, but it is not
enough to convince me to deny the application.
First, as the District Court acknowledged, the States dis-

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George Pearkes @peark.es · 09/09/2026

Wild stuff

Chart showing increase in TX power generation covered by solar. IT's 100% so for this year.

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Ryan Marino, MD @ryanmarino.bsky.social · 06/09/2026

Routine reminder that Bhattacharya is an economics researcher who has never practiced medicine and whose best known publication is overtly fraudulent. He has never done infectious disease research and has never treated a single virus or infection in his entire career. He’s likely never seen measles.

20458262016

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David Roberts @volts.wtf · 04/09/2026

China's net greenhouse gas emissions *fell* this past quarter. Why? Because rapidly expanding electric vehicle use is putting a serious dent in oil demand. We could do that too. But we're not. We have the slowest EV update in the developed world, thanks to Trump.

carbonbrief.org

Analysis: China’s CO2 emissions fall in Q2 2026 due to plummeting oil use - Carbon Brief

China’s carbon dioxide (CO2) emissions fell by 1% in the second quarter of 2026, as oil consumption plummeted amid the strait of Hormuz crisis.

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LiveSquawk @livesquawknews.bsky.social · 03/09/2026

US Trade Balance (USD) Jul: -88.6B (est -90.2B; prev -73.3B; prev R -71.2B) - Import (M/M): 2.8% (est 1.8%; prev -1.8%) - Export (M/M): -2.1% (est -1.0%; prev -0.9%)

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Sean Casten @seancasten.bsky.social · 01/09/2026

Scott Bessent is the living proof of the old joke that the easiest way to become a millionaire is to start with $2M and lose half of it. He turned a $5.7B fund into $537M of value before he transitioned to a job on the government dime.

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Hansi Lo Wang (he/him) @hansilowang.bsky.social · 31/08/2026

SCOOP: After the Census Bureau issued a highly unusual report tied to a President Trump-aligned think tank, the bureau’s parent agency, the Commerce Department, cut language banning political interference from its scientific integrity policy, @npr.org has learned www.npr.org/2026/08/31/n...

npr.org

Trump officials cut political interference ban after unusual Census Bureau report

After the Census Bureau issued a report tied to a Trump-aligned think tank, the bureau's parent agency cut language banning political interference from its scientific integrity policy, NPR learned.

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Scott Lincicome @scottlincicome.bsky.social · 29/08/2026

"Mapped: Each U.S. State’s Top Export Partner" www.visualcapitalist.com/mapped-each-...

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Aaron Reichlin-Melnick @reichlinmelnick.bsky.social · 28/08/2026

We are a broken nation. Hundreds of thousands of Haitians were living and working legally, paying taxes, and contributing. Haiti remains wholly unsafe. But Trump hates Haitians, and the White House wanted videos of Black people in chains, so they stripped them of status and turned on the cameras.

Homeland Security 7
@DHSgov
X.com
Haiti TPS has been TERMINATED.
Those with terminated TPS are in our nation Illegally. They have two options: LEAVE IMMEDIATELY or be DEPORTED.
DHS.GOV/CBРНОМЕ

Underneath is a screenshot of a video showing two Haitian men in chains being led to the aircraft. I didn’t post the video, but it’s vile.

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Edward Harrison @edwardnh.bsky.social · 25/08/2026

The Wall Street Journal comes out swinging against this trade war: "One reason for Mr. Trump’s frigid approval rating is that voters believe Mr. Trump is waging blunderbuss wars without a strategy, and on trade they’re right." www.wsj.com/opinion/the-...

wsj.com

Opinion | The Dumbest Trade War Revisited

Trump’s decision to escalate a tariff brawl with Canada makes no economic or political sense.

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ProPublica @propublica.org · 25/08/2026

The Pentagon has never received a passing grade on a comprehensive financial audit. One thing is clear: Vast sums are funneled into costly weapon systems that chronically come in over budget.

propublica.org

The $1 Trillion Black Box

The U.S. military budget is vast and opaque. Projects touted as engineering marvels end up facing years of delays and ballooning costs. ProPublica has launched a series to report on the Pentagon’s spe...

20031101300

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Phil Lewis @phillewis.bsky.social · 25/08/2026

Two people have died in Pennsylvania from measles, the state health department said. Both were unvaccinated. These the first deaths related to measles within the state in 35 years, it reports

abcnews.com

2 people die from measles in Pennsylvania

Two people have died in Pennsylvania from measles, the state health department said Tuesday.

20129441354

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Aaron Rupar @atrupar.com · 20/08/2026

perfect synopsis of modern Republicanism

Darline Graham: I tripped up on one question last night, regarding Taiwan. I don't speak politician. I was just honest. Of course, Taiwan is our friend. But I think people in South Carolina are more worried about boys in girls sports.

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Carl Quintanilla @carlquintanilla.bsky.social · 17/08/2026

This puts the current pace of US budget deficits into perspective. @eddyelfenbein.bsky.social

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Carl Quintanilla @carlquintanilla.bsky.social · 17/08/2026

“.. US M2 money supply is rising at the fastest pace in five years. The last time money supply accelerated this rapidly, inflation followed with a lag.” - Ekwueme

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Henry Mance @henrymance.ft.com · 09/08/2026

Chris Hohn, billionaire hedge fund manager: ‘All these people who say we can't afford net zero - they're completely misunderstanding the gravity of the situation.' www.thetimes.com/article/de38...

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Sahil Kapur @sahilkapur.bsky.social · 08/08/2026

By UNANIMOUS consent, the Senate adjourned for recess until Monday, September 14 without passing the SAVE America Act. Nobody objected to the request, or asked for a roll call vote.

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Carl Quintanilla @carlquintanilla.bsky.social · 01/08/2026

Three-byline alert: 🚨 “.. The strike hit a densely populated neighborhood .. .. the evidence raises questions about what the United States was targeting and why such a large munition was used.” @nytimes.com www.nytimes.com/2026/07/31/w...

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Carl Quintanilla @carlquintanilla.bsky.social · 01/08/2026

“.. In normal times, [it] would be the stuff of major investigations .. “.. the DOJ brought a clearly shoddy case without getting all the information first .. another hasty prosecution brought for Trump’s political purposes ..” @cnn.com www.cnn.com/2026/08/01/p...

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Scott MacFarlane @macfarlanenews.bsky.social · 31/07/2026

FLASH: Justice Dept seeks to dismiss Lincoln Memorial Reflecting Pool criminal case against former Olympian David Hearn Trump Admin acknowledges: "Damage to the Lincoln Memorial Reflecting Pool in June 2026 was the result of flawed installation by the contractor"

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Jennifer N. Victor @jenvictor.bsky.social · 24/07/2026

Today, in violations of the rule of law that would be sufficient for impeachment in any other American presidency but aren't in this one because pathological partisan loyalty has rotted the constitutional order:

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tony romm @tonyromm.bsky.social · 24/07/2026

NEW: In a stunning admission, the Trump administration admitted in court documents that it canceled billions in energy grants to states "based solely" on politics -- and whether that state was represented by Democrats and backed Harris in 2024. www.nytimes.com/2026/07/24/b...

nytimes.com

Trump Administration Admits Canceling Grants to States That Did Not Vote for Him

Federal officials said in court documents that they halted billions of dollars in funding for energy projects to states “based solely” on whether they backed President Trump in the 2024 election.

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FactPost @factpostnews.bsky.social · 24/07/2026

The FDA has announced that 1.6 million eggs have been contaminated with salmonella, forcing a nationwide recall. Last year, the Trump administration scrapped regulations to limit salmonella and laid off hundreds of food safety inspection workers.

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Sammy Roth @sammyroth.bsky.social · 23/07/2026

Insane new research. Scientists gave asthma patients free electric stoves to replace their gas stoves, then checked to see if symptoms improved. Not only did symptoms improve, ditching gas was *better than medicine.* Details in today's newsletter: www.climatecoloredgoggles.com/p/electric-s...

climatecoloredgoggles.com

Researchers used electric stoves to treat asthma. It worked.

The latest evidence that gas is bad for your health.

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Carl Quintanilla @carlquintanilla.bsky.social · 23/07/2026

“.. The deal: a Trump-branded hotel, golf and residential project inside a Saudi development helmed by the crown prince. ..!Only now is the fuller picture coming into view.” @forbes.com www.forbes.com/sites/danale...

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Spooky Back From The Dead Lazarus @jlazarus.bsky.social · 21/07/2026

You might get sick of hearing this but if he keeps doing it I'm gonna keep saying it: this is an unconstitutional impoundment, violating both Congress' Article I spending authority and the 1974 Impoundment Control act, and immediately impeachable.

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ProPublica @propublica.org · 22/07/2026

The Oklahoma agency responsible for ensuring that oil company operations do not pollute municipal groundwater has granted nearly 400 industry requests for injection rule waivers since 2022. Cities are powerless to pass their own rules. with @readfrontier.bsky.social

propublica.org

To Protect Its Drinking Water, This City Has to Appeal to the Oil Regulators That Put It at Risk

Oklahoma restricts oil field wastewater injection within a half-mile of public water wells. Regulators have let companies do it anyway. But in the city of Enid, officials are pushing back against one ...

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Brad Lander @bradlander.bsky.social · 21/07/2026

We’ve seen so much cruelty from ICE over the past year. But using kids as “bait” to arrest & detain their relatives is a new level of evil. I witnessed it last week at 201 Varick Street. Per this article in the Texas Tribune, it’s happened over 100X. (1/3)

texastribune.org

ICE arresting relatives trying to take custody of migrant kids

Attorneys say the federal agencies are using children as “bait” to detain sponsors, leaving kids waiting in shelters for months.

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Chris Hayes @chrislhayes.bsky.social · 19/07/2026

This piece is incredible. If you prefer audio, here’s an interview I did with the reporter walking through her reporting. podcasts.apple.com/us/podcast/w...

podcasts.apple.com

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Carl Quintanilla @carlquintanilla.bsky.social · 17/07/2026

What a graphic. @cnn.com $NVDA $TSLA $AEO

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Josh Marshall @joshtpm.bsky.social · 17/07/2026

Maine ICE shooter has history of severe mental illness, multiple psych hospitalizations, mil PTSD, chronic violence agst at least two wives, and threats against mutiple family members and more. talkingpointsmemo.com/edblog/a-mus...

talkingpointsmemo.com

A Must Read and Truly Horrifying Story

The AP has just posted a detailed investigation into the background of...

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