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Andy Hemming

@andyhemming.bsky.social

1.6k Following1.2k Followers

Born to party, forced to work. Screaming Argonaut. Not fast, occasionally furious. Apprentice at the College of Nonchalance. He/Him/Highly favoured

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@andyhemming.bsky.socialOct 12, 2026, 12:50 PM

I’m not sure I agree with that, but anyway. I hope you find some irl friends, as you deserve some.

@andyhemming.bsky.socialOct 12, 2026, 11:39 AM

I think the world feels very hostile right now. That doesn’t mean you aren’t loved by your people, I’d suggest you get in touch with someone of your closest friends.

@andyhemming.bsky.socialOct 12, 2026, 11:36 AM

Way ahead of you. Happy birthday, stay weird.

@jakemgrumbach.bsky.socialOct 9, 2026, 4:54 PMReposted by @andyhemming.bsky.social

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,…
146
@richycraven.bsky.socialOct 11, 2026, 8:48 PMReposted by @andyhemming.bsky.social

My online girlfriend was so shocked by the Ukraine drone strike on the Russian data centre that she's been too upset to message me all day.

@andyhemming.bsky.socialOct 12, 2026, 6:53 AM

I guess we should be tracking network traffic and the origins of accounts as a minimum? Technically I’m not sure how that could be done as I suspect you could just pour resources (and AI resources into both sides) I think the Ukrainians have a better solution.

@andyhemming.bsky.socialOct 12, 2026, 6:39 AM

You could wonder about Brexit… Why would any party receive monies to spend on social media and at the same time get foreign state support… Our best interests? I think not.

@andyhemming.bsky.socialOct 12, 2026, 6:37 AM

It songs to you like if frank sinatta dealt in baaas

@andyhemming.bsky.socialOct 12, 2026, 6:37 AM

Pototo cagliflower for me please.

@andyhemming.bsky.socialOct 12, 2026, 6:28 AM

This is very telling. The dash are getting an inorganic boost

@andyhemming.bsky.socialOct 12, 2026, 6:23 AM

Practical steps to defend democracy.

@andyhemming.bsky.socialOct 12, 2026, 6:20 AM

I wouldn’t say that, I think they are just different artists with different approaches. (And you shouldn’t say stuff like this to yourself! ) The way you’ve drawn us has been wonderful. You are part of a school or approach!

@andyhemming.bsky.socialOct 11, 2026, 10:06 PM

I see a flecktarn smock, and want to paint it grey… No colours anymore

@andyhemming.bsky.socialOct 11, 2026, 10:05 PM

Is that moon eyed dog meant to look aggressive?

@andyhemming.bsky.socialOct 11, 2026, 9:23 PM

Without the risk. Without the danger of over reach. With just bad dice. The game comes alive.

@andyhemming.bsky.socialOct 11, 2026, 9:07 PM

A particular horror I have not been exposed to.

@andyhemming.bsky.socialOct 11, 2026, 6:21 PM

Failed state, perhaps Zimbabwe could send help…

@andyhemming.bsky.socialOct 11, 2026, 6:20 PM

Donald seems to think he is Ming the Merciless (without the style, obv)

@andyhemming.bsky.socialOct 11, 2026, 6:16 PM

These are just excellent 👌🏻

Are you still sketching us @k000.bsky.social ?

@andyhemming.bsky.socialOct 11, 2026, 5:59 PM

I guess a question is starting point… For my money I’d like to include birdoswald in the first trip…

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