iiinova — where your digital self keeps evolving

Reposted by FW

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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FW @neverwright.bsky.social · 08/10/2026

Was she asked? It’ll be the usual “we wILl cut WelFare” nonsense

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FW @neverwright.bsky.social · 05/10/2026

Who introduced this in the first place.

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FW @neverwright.bsky.social · 03/10/2026

I bet people said that when the water companies were nationalised in the first place.

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FW @neverwright.bsky.social · 03/10/2026

We have to pay it one way or another! I’d rather pay without also having to fund dividends on top.

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FW @neverwright.bsky.social · 02/10/2026

I’m so glad to see someone like Oli Dugmore on there call her out. 👏

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FW @neverwright.bsky.social · 27/09/2026

It’s a grift to maintain grant funding.

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FW @neverwright.bsky.social · 26/09/2026

It’s a failure of the theories of neo-liberalism.

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FW @neverwright.bsky.social · 26/09/2026

Oh that old chestnut. Well as I see it, inflation has been very high, driven by protection of profits and high energy prices.

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James Ball @jamesrball.com · 19/09/2026

Some people appear to believe the implication of this post is "Rishi Sunak is good" or "Rishi Sunak was a good PM". It is very much the opposite: that's what makes it embarrassing.

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Daniel Knowles @dlknowles.bsky.social · 19/09/2026

I really hate the framing of these stories as "an AI agent broke out and hacked something." No, an inadequate sandbox meant that a powerful and unpredictable computer program was set loose on the open internet by the company that designed it. The agency isn't with the "AI agent", it's with the firm

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Anthony Painter @anthonypainter.bsky.social · 18/09/2026

Fred is Done. How could we have the audacity to tax his extraordinary gambling wealth just because he wants to live and run a business here? He's going to close his shops people! Nothing to do with moving gambling completely online of course. giftarticle.ft.com/giftarticle/...

giftarticle.ft.com

UK’s top taxpayer says he would ‘not wish to be reborn’ in Britain

Betfred founder Fred Done threatens 500 shop closures over tax rises that have left him fearful for the UK’s prospects

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Gareth Dennis @garethdennis.uk · 18/09/2026

The DfT just posted this self-congratulatory propaganda on Facebook. This is horseshit. Battery trains have a very minor role to play as a transition technology, but in the foothills of a seismic energy crisis, swapping one form of energy dependency for another is crap politics and worse planning.

a big photographic poster style picture with the text "Electric or battery electric trains? Battery is better. Here's why."

Electric trains are powered by overhead lines or a third rail. Compared to diesel, electric trains are:
1. faster - they accelerate and decelerate quicker
2. quieter - there are no motors, reducing vibrations
3. lighter - increasing capacity, reducing stress on rails
4. emission free - helping us reduce our reliance on diesel

Battery-electric trains use the
Overhead lines or a third rail to also charge a battery. They:
Use existing power lines - reducing the need for new infrastructure and allowing investment elsewhere
Avoid complex upgrades - like building new infrastructure on uneven land, which is costly and takes longer
Avoid disruptions to services - caused by infrastructure upgrades & repairs

Battery-electric trains can be charged at train stations and on electrified lines.
Trains then run on non-electrified portions of the network.
This technology can help spread the benefits of electric trains to more communities, much sooner.

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Holger Hestermeyer @hhesterm.bsky.social · 19/09/2026

How is this news? billionaire oil person says uk needs to drill more and tax less, though, of course, he‘s actually in Monaco. And he would do more in the uk if the state subsidised him more. Dear BBC, that‘s like me saying the uk‘s problem is underpaid law profs. www.bbc.com/news/article...

bbc.com

Billionaire Manchester United owner Sir Jim Ratcliffe says he has lost confidence in UK

Ineos founder Sir Jim Ratcliffe tells the BBC he thinks the country is "on the slide" and calls for more investment in the North Sea.

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FW @neverwright.bsky.social · 14/09/2026

Well we didn’t design the technology but it’s hard not to use it when it exists. The main thing we need to protect our kids from is what is online rather than the actual world. Many young people won’t even have the opportunities to afford to get out and make mistakes.

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FW @neverwright.bsky.social · 13/09/2026

And what are we going to do about it

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FW @neverwright.bsky.social · 12/09/2026

Ok I’ll do my research!!

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Will Jennings📉🗳️ @drjennings.bsky.social · 11/09/2026

Everyone still using X is using a website that produces and distributes CSAM. It is disgusting and immoral and nobody has any excuse for not being fully aware at this point.

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FW @neverwright.bsky.social · 11/09/2026

I’ll be donating to them then

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The Empty City @davidallengreen.bsky.social · 11/09/2026

NEW Why holding a placard is a terrorist act, while causing disruption in a balaclava is not The mess caused by ministers and the police not taking terrorism law seriously By me at @prospectmagazine.co.uk www.prospectmagazine.co.uk/ideas/law/th...

Recent events in England now reveal the practical difference between terrorists and protesters. It would seem that terrorists peacefully hold placards and get immediately arrested, while protesters wear black uniforms and balaclavas and disrupt infrastructure and do not get arrested.

How did we get into this mess? How have we placed ourselves in the position where terrorism legislation is used to detain and prosecute peaceful protesters, while those adopting the terror tactics of private armies seem to be free to do as they wish?

The reason is that for some time British politicians have not taken terrorism legislation seriously, and that ministers have got into the habit of misusing terror laws for easy targets.

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FW @neverwright.bsky.social · 06/09/2026

Now that I see you’re here please for the love of god can you put your app back to how it was. I really don’t like the new one. Who asked for it to be upgraded.

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FW @neverwright.bsky.social · 06/09/2026

Because those things require funding - not just for software but for people.

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FW @neverwright.bsky.social · 02/09/2026

As long as he doesn’t keep doing it, I don’t see the problem. Let’s break the myth that somehow Thatcher was a saviour in terms of the economy. She created a few winners but a lot of losers still to this day.

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Marina Purkiss @marina-purkiss.bsky.social · 01/09/2026

HORRIFIED Judge rules that privately owning AI-generated child sexual abuse material is protected by the 1st Amendment WTF 1) This normalises child sexual abuse 2) This feeds the depravity - where do you think that leads? 3) WHAT do they think these AI models are trained on?

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FW @neverwright.bsky.social · 01/09/2026

He also said we were going to Mars so….

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William Dalrymple @willdalrymple.bsky.social · 28/08/2026

An essay I've just written for @nytimes on why Big Tech is the 21st Century’s equivalent of the East India Company: "What It Would Take to Dismantle the Most Powerful Companies in the World" www.nytimes.com/2026/08/28/o...

nytimes.com

Opinion | What It Would Take to Dismantle the Most Powerful Companies in the World

A playbook to curb the growing power of Big Tech.

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FW @neverwright.bsky.social · 31/08/2026

That’s a brag not a fess

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Alex Selby-Boothroyd @alexselbyb.bsky.social · 30/08/2026

This is getting out of hand

Tube map but with America Water instead of Canada Water. Hilariously.

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Prem Sikka @premnsikka.bsky.social · 27/08/2026

Large part of UK’s water network was installed 130 to 150 years ago. Thames Water infrastructure has average age of 79 years; industry average 56 yrs. 40% of TW assets are over 100 years old. Its IT systems date back to the 1980s. Since privatisation, water companies paid £88.4bn in dividends.

leftfootforward.org

The case for nationalisation of water companies

England’s privatised water companies are leaders of predatory practices. In 1989, the industry was privatised for £7.6bn and had no debts. It joined Chile and a few US states&...

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FW @neverwright.bsky.social · 27/08/2026

There will come a point when money cannot buy them out of a problem.

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FW @neverwright.bsky.social · 27/08/2026

“Let them drink wine”

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George Monbiot @georgemonbiot.bsky.social · 27/08/2026

A large part of rightwing discourse consists of denying other people's suffering.

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Alom Shaha @alomshaha.bsky.social · 22/08/2026

Other parents live vicariously through their children by pushing them to become good at sports or music or whatever. I am doing the same by encouraging my children to stay up late watching TV all summer.

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[No//Thrones] @krakoan-lorax.bsky.social · 20/08/2026

Diarrhea in the lettuce, glass in the popsicles, E. Coli in the berries, screw worms in the beef, salmonella in the chicken & eggs, listeria in everything else. Man I love deregulation. Libertarianism is such a great philosophy.

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FW @neverwright.bsky.social · 19/08/2026

Oh I’d forgotten that!

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Mayor of London, Sadiq Khan @london.gov.uk · 19/08/2026

This stopped me in my tracks. An independent study by @qmul.bsky.social has found that after ULEZ was introduced, children’s lungs grew faster in Central London and have now caught up with children outside of the capital. Incredible.

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BladeoftheSun @bladeofthes.bsky.social · 19/08/2026

Robin Williams warned the US about Donald Trump and his links to Miss America Pageants and underage girls in 2012. Really should have listened.

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Steve Chambers @planningtransport.co.uk · 18/08/2026

Tail wagging the dog on station densities. It isn't planning if houses are tied to service frequencies. It would be planning if you uplifted the service frequency to serve the new houses. Unserious country. simonicity.com/2026/08/17/m...

simonicity.com

Mark-Up Of Final Version of NPPF vs Draft

Here’s one we prepared earlier: . By “we” I mean my colleague Archie Hunter, for which thanks (although any errors are mine – please do just use this as an indicative guide). It’s interesting to se…

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FW @neverwright.bsky.social · 17/08/2026

It’s interesting. He’s the sort to talk of “scaring” people with talk of climate change etc. I’m starting to think that he finds is scary so is deflecting massively saying we should just “enjoy the weather”. It’s projection.

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Robert Reich @rbreich.bsky.social · 15/08/2026

I don't know who needs to hear this, but an economy controlled by a handful of oligarchs isn't a "free market."

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FW @neverwright.bsky.social · 16/08/2026

We stop reading it. It cannot be changed so turn our backs.

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