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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hell bent for average goaltending @theoilluminati.bsky.social · 20h

shoutout to matt dumba on his retirement and starting his nhl career with the wild by wearing 55 so his jersey could be read as DUMBA55

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Phil Calvin @pcalvin.bsky.social · 07/10/2026

Turns out I was looking at a poster for LAST yesrs show. Missed that one too!

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Leticia García 🇵🇸 @ms-golightly.bsky.social · 05/10/2026

Siempre es buen momento para volver a compartir esta fotografía de Sandro Becchetti.

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David Rothkopf @djrothkopf.bsky.social · 05/10/2026

We will never again be a democracy if we don't get the big money out of American politics. There should not be any higher priority. davidrothkopf.substack.com/p/one-priori...

davidrothkopf.substack.com

One Priority Above All Others

We Must Drain the Poison Out of Our Body Politic If There Is to Be a Better World After Trump

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Democrats @democrats.org · 05/10/2026

If you live in the following states, TODAY is the last day to register to vote before the midterm elections: Arizona Arkansas Florida Georgia Indiana Kentucky Mississippi Ohio Tennessee Texas Go to IWillVote.com for more info.

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Matthew Dowd @matthewjdowd.bsky.social · 01/10/2026

Latest WSJ poll: "63% want to pause AI development 61% want a billionaire wealth tax 59% want Medicare for All 57% want a $20 minimum wage 58% want to end U.S. military aid to Israel" This is the center of the country politically. it is time all adjust to this political spectrum, esp. media.

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Phil Calvin @pcalvin.bsky.social · 05/10/2026

I really want to see Luna with Yo La Tengo in SF for NYE but it’s just not going to happen this year.

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Phil Calvin @pcalvin.bsky.social · 04/10/2026

Send them some ivermectin stat!

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Phil Calvin @pcalvin.bsky.social · 04/10/2026

If only we had a government in the US that followed the desires of the people. Good for Brazil.

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Kai Ryssdal @kairyssdal.bsky.social · 28/09/2026

If a sentence in your newscast starts with “President Trump says…” you’re failing your audience.

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jam @socialistboat.dad · 01/10/2026

Caffeine doesn't replace lost hours of sleep, it only masks the fatigue signals to your brain so you don't realize how tired you actually are. You still suffer the cognitive and physiological deficits from the sleep deficiency, you just can't tell. Which is good actually and fine I've decided

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Phil Calvin @pcalvin.bsky.social · 30/09/2026

I’d like to do this somewhere in my neighborhood.

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Phil Calvin @pcalvin.bsky.social · 30/09/2026

“I never want to read a book with the title “2050: How the West Was Lost.” The story might begin around the millennium…” No sir. That story began with Trump. And the story is better titled “How the US abandoned the West, letting Canada and Mexico join Europe.” A new domino theory.

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Phil Calvin @pcalvin.bsky.social · 29/09/2026

Listen to this shit. Fuck that.

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Phil Calvin @pcalvin.bsky.social · 27/09/2026

I’m supposed to watch Water by Deepa Mehta for my film class but I’m not sure I can handle it. Parts of India are just beyond description or belief. Sometimes I can’t believe I really lived there for 6 years.

Image of a young india girl with the shorn head of a widow, standingby a river.

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Sarah @sosomanysarahs.bsky.social · 27/09/2026

I like direct democracy, but the amount of utter bullshit Advance Colorado put on the ballot this year is ridiculous. Also, both Partner and I are widely acknowledged as being really smart people, and I'm fairly knowledgeable about politics, and neither of us can tell if Prop 137 is good or evil.

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Phil Calvin @pcalvin.bsky.social · 27/09/2026

Was it in color originally or is this “colorized”. Looks like the latter.

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Phil Calvin @pcalvin.bsky.social · 26/09/2026

It’s kind of amazing that you’ve never seen them. They’ve been my favorite band since 1987 or so, and I’ve probably seen them a dozen times.

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Peter Gleick @petergleick.bsky.social · 26/09/2026

The corruption just goes on and on. It's so brazen because we have no justice department, no enforcement, and no consequences. V2

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Whitney Curry Wimbish @whitneycwimbish.bsky.social · 24/09/2026

The youngest person his pager attack killed was 9-year-old Fatima Abdullah, who had just started 4th grade. The pager was on a table when it went off and she picked it up to take to her dad. It exploded in her face and reports said it covered the room in her blood. She wanted to learn English.

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Phil Calvin @pcalvin.bsky.social · 25/09/2026

They should have just hired KEXP to do the live broadcast instead.

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Phil Calvin @pcalvin.bsky.social · 25/09/2026

This Noah Kahan show on Amazon is so overproduced it makes me want to shit on the floor. Just kidding. It’s not quite that bad.

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Phil Calvin @pcalvin.bsky.social · 25/09/2026

The old “accidentally pushed the change to prod” error. Now imagine it was your car and you were cruising down the highway. Or your pacemaker. Or insulin pump.

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Phil Calvin @pcalvin.bsky.social · 25/09/2026

B and D are the same thing aren’t they?

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Phil Calvin @pcalvin.bsky.social · 25/09/2026

Pretty nice shoes there. Love this photo.

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Phil Calvin @pcalvin.bsky.social · 25/09/2026

What is it with the state of Maine and “disappointment” and “concern”? Step up to the plate. Tell the truth.

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Phil Calvin @pcalvin.bsky.social · 24/09/2026

I switched my browsers and OS to use Spanish. I have Reddit automatically translated to Spanish. It’s work I tell you. But my Spanish is getting better by reading it all day long.

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Senator Chris Larson @senchrislarson.bsky.social · 23/09/2026

Employers underpay their workers by an estimated $50 billion every year through various forms of wage theft. That's more than every type of property crime COMBINED. DoorDash alone paid a $131.5 million settlement in New York City for underpaying their delivery drivers.

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Phil Calvin @pcalvin.bsky.social · 21/09/2026

There is no reason US automakers can’t make good EVs at a reasonable price. They just don’t even try. Too busy sucking on the big SUV gravy train. RIP Detroit. You’ve had 20 years to figure this out. No tears.

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Phil Calvin @pcalvin.bsky.social · 19/09/2026

“It truly is remarkable what you can do when you have donors and corporations who are willing to spend tens of millions of dollars in secret money to influence our politics.” Shad Murib, chair of the Colorado Democratic Party.

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Phil Calvin @pcalvin.bsky.social · 19/09/2026

Probably 75% of NHL players are MAGA-nauts. Including my hero Orr. But that doesn't excuse supporting Putin. Ovi deserves to end his career in drowning in boos and shame.

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Phil Calvin @pcalvin.bsky.social · 19/09/2026

Today in my Spanish lesson, I got distracted and started telling a story. After I was done, profe embarrassingly wrote down one of my ad-libbed sentences. Turns out I correctly used past, present, and present subjunctive in an indirect sentence without thinking about it. So, progress.

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Phil Calvin @pcalvin.bsky.social · 18/09/2026

Must be a borrowed bike. Gandolfini would never need a suspension fork.

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OG 2Tone @offbydesign.blacksky.app · 18/09/2026

Mayor Scott deserves his flowers just as much as Mamdani. He's doing a lot with less and cares heavily for the city but doesn't get the recognition.

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Phil Calvin @pcalvin.bsky.social · 18/09/2026

It completely boggles my mind why anybody would waste their time listening to Joe Rogan.

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Phil Calvin @pcalvin.bsky.social · 17/09/2026

@dianabrickell.bsky.social Saw this at the FIRC thrift shop and thought of you. :-)

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Anonymous @youranoncentral.bsky.social · 24/02/2025

Spotted in Oaxaca, Mexico. #3E #EndOligarchy

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Nicolas Hénin @nicolashenin.net · 17/09/2026

Nice campaign by the Norwegian Consumer Council about the declining lifespan of products. Enjoy!

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Phil Calvin @pcalvin.bsky.social · 16/09/2026

“Let me say just this one false thing here …” … while I make a few trades on the side that are based on the reality.

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Phil Calvin @pcalvin.bsky.social · 16/09/2026

$40B to kill Iranians, disrupt global markets and raise prices. I’ll take the $9.5B any day.

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Phil Calvin @pcalvin.bsky.social · 16/09/2026

A socialized war-time economy. Works every time.

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Phil Calvin @pcalvin.bsky.social · 15/09/2026

Kia seems to be making the electric vans Volkswagen should make.

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Phil Calvin @pcalvin.bsky.social · 15/09/2026

Drowned in boo’s all season. Retires with a stained legacy. Games in Canada will be especially difficult for this Putin fluffer.

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