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Tim Dickinson

@timdickinson.bsky.social

3.1k Following133.2k Followers

Senior Writer & Editor, The Contrarian
ContrarianNews.org

Portland, Oregon
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@jakemgrumbach.bsky.socialOct 9, 2026, 4:54 PMReposted by @timdickinson.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,…
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@councilofdc.bsky.socialOct 9, 2026, 7:42 PMReposted by @timdickinson.bsky.social

This is clearly not acceptable

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@rightwingwatch.bsky.socialOct 9, 2026, 6:40 PMReposted by @timdickinson.bsky.social

As we were saying ...

Tweet from Robert Jeffress: 

I support the Pentagon’s decision to livestream the execution of mass-murderer Nidal Hassan.  

Capital punishment is commanded by God in Genesis 9:6 to remind people of the sanctity of human life. The more people that can see that truth illustrated through a public execution, the better.
@bencollins.bsky.socialOct 9, 2026, 6:09 PMReposted by @timdickinson.bsky.social

Six months ago:

theonion.comDOJ To Bring Back Firing Squad As Means Of EntertainmentWASHINGTON—In an effort to provide some joy to the nation and boost overall well-being, Justice Department officials announced plans Monday to bring back firing squads as a means of entertainment. “Fo...
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@dbernstein.bsky.socialOct 9, 2026, 1:42 PMReposted by @timdickinson.bsky.social

Wow — Cook Political moves *eighteen* House district ratings in D direction this morning

@dansinker.comOct 8, 2026, 10:02 PMReposted by @timdickinson.bsky.social

I'm so tired of the constant cruelty.

@paleofuture.bsky.socialOct 8, 2026, 9:28 PMReposted by @timdickinson.bsky.social

Again, the last public execution in the U.S. was in 1936. It's hard to wrap your head around what we're currently accelerating toward.

@adamserwer.bsky.socialOct 8, 2026, 9:45 PMReposted by @timdickinson.bsky.social

I think people should listen to what the administration trying to bring back spectacle lynchings, race riots, and middle passage-esque deportation voyages are trying to tell you about themselves. bsky.app/profile/bren...

BBrendan Nyhan@brendannyhan.bsky.socialOct 8, 2026, 9:37 PM

The news just since I left work: -A planned livestream of an execution by firing squad -Trump basically trying to incite a pogrom against Somalis Nothing mysterious or complicated about what's happening.

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@johannawinant.bsky.socialOct 8, 2026, 8:04 PMReposted by @timdickinson.bsky.social

closing schools doesn't even save money!

www.edweek.org/leadership/c...

@timdickinson.bsky.socialOct 8, 2026, 9:02 PM

Bengs is one of several Indies who could unseat Republicans from Nebraska to Idaho and create an unpredictable dynamic in our politics

@timdickinson.bsky.socialOct 8, 2026, 9:00 PM

I interviewed one of the Independents running for Senate who could disrupt partisan control of the chamber:

youtu.be/eR0OwC7pg_o?...

@swin24.bsky.socialOct 8, 2026, 8:35 PMReposted by @timdickinson.bsky.social

So it’s slave ships except they’re trying to reduce the number of laborers in this country

@timdickinson.bsky.socialOct 8, 2026, 8:24 PM

david lynch more like it

@timdickinson.bsky.socialOct 8, 2026, 8:02 PM

Seems either like ready, fire, aim mismismanagment. and/or it raises a lot of questions about what the actual aim of this disruptive change is.

@timdickinson.bsky.socialOct 8, 2026, 7:57 PM

"Future use of any closed school is still to be determined. Closure does not automatically mean that a property will be sold or disposed of. As part of implementation planning, staff will develop a comprehensive building repurposing plan."

@timdickinson.bsky.socialOct 8, 2026, 7:57 PM

And what about the 14 campuses that will be shut down? Again, there's no clear plan:

@timdickinson.bsky.socialOct 8, 2026, 7:56 PM

"...What we do know is that school consolidations will results in fewer school based staff members, from the custodians to the building leaders. The most impacted positions are those where there is one per building, such as a principal, custodian, possibly a school counselor, etc."

@timdickinson.bsky.socialOct 8, 2026, 7:55 PM

A hint of the savings comes from written answers to school board questions. And even here they're quite vague: "The number of potential layoffs can not be determined at this time....

@timdickinson.bsky.socialOct 8, 2026, 7:52 PM

For Portland parents following the extraordinary plan to close 14 schools, the district doesn't seem to have done some very basic homework. A lot of this is being done in the name of cost savings, but the district hasn't released any projections on that front.

@rbreich.bsky.socialOct 8, 2026, 7:30 PMReposted by @timdickinson.bsky.social

The 400 richest Americans are now worth a record $8 trillion. The entire bottom 50% of American households is worth just $4.27 trillion. Read that back. When 400 people control more wealth than half a country’s population, we have a very serious problem.

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