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  1. #1
    has a Senior Member HoreTore's Avatar
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    Default Oh the woes of those poor, hunted billionares...

    The lol-meter is going through the roof here in Norway these days, a nice substitute for our complete lack of sun...

    You see, the situation is that our richest man, Stein Erik Hagen, owner of a chain of grocery stores and supermarkets, is fleeing the country. Why? The tax burden is so high that, in his own words, "there comes a time when you either have to sell everything and quit, or pack your stuff and move somewhere else". He points his chubby finger at the current socialist government, and says they're "out to get him and people like him".

    So, what's the extortionate tax the government has imposed on him then? Well, this being Norway, everyone's tax information is freely available on the net, and a quick search reveals that he paid a grand total of...

    10 042 360 NOK in 2007, and 7 959 357 NOK in 2006(numbers for 2008 isn't available). This is a guy with a tax value of 1,2 billion, and an estimated wealth of around 8 billion...

    The standard tax rate in Norway is 28%, that's what I pay in taxes. Now, for him to pay the same tax as I do, he couldn't be making more than 30 million in 2007. A guy worth 8 billion. Making 30 million per year. Who builds palaces, has an army of servants and gives savings-advice like "don't buy new shirts every day, send them to dry cleaning in London instead"(true quote). Sounds likely? Nope. The real figure is probably some hundred million a year. So.... The tax he pays is what? 4-5%? And he's whining about that being extortionate?

    The clue meter is reading zero. Good riddance.
    Still maintain that crying on the pitch should warrant a 3 match ban

  2. #2
    master of the pwniverse Member Fragony's Avatar
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    Default Re: Oh the woes of those poor, hunted billionares...

    I don't get the match, 28% that is grand total? Obama is going to hate you when he finds out, that would put you on the list of tax-havens and you aren't on it. I agree that he has nothing to complain about, and I find it rather tasteless when half the world is starving, doesn't sound like the kind of guy I would like to drink a beer with (nor champagne).

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    Iron Fist Senior Member Husar's Avatar
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    Default Re: Oh the woes of those poor, hunted billionares...

    Yeah, I feel sorry for him, wherever he wants to go I expect not to let him in though(too many immigrants etc, you know what they say...), the world is really unfair...


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    Darkside Medic Senior Member rory_20_uk's Avatar
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    Default Re: Oh the woes of those poor, hunted billionares...

    As dislikeable as he is the country is going to loose all of his taxes now. OK, for Norway this probably doesn't matter that much, but it does illustrate that you can't alter a system without the system reacting - hence why the 50% tax bracket in the UK might in fact reduce the amount of tax that is collected.

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    Enlightened Despot Member Vladimir's Avatar
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    Default Re: Oh the woes of those poor, hunted billionares...



    You mock the plight of this man and don't realize that you (all of you) will pay the price. Detroit didn't turn into a cesspool overnight. It began with poor tax policy. A similar situation is happening in Maryland. How did he make his fortune? Grocery stores and supermarkets? Hardly a villian.

    I don't know the overall tax structure in Norway but I suspect the top marginal tax rate is more than 28%. Keep saying "good riddance" and you will say the same about many jobs in the future.
    Last edited by Vladimir; 07-27-2009 at 15:18.


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    Iron Fist Senior Member Husar's Avatar
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    Default Re: Oh the woes of those poor, hunted billionares...

    That's why we need the world government Vladimir, one tax for the rich and they cannot run away from it.

    By the way, if you defend the freedom of the rich to go and live wherever they want, then why not that od the poor africans and mexicans to do the same thing?
    Last edited by Husar; 07-27-2009 at 15:25.


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  7. #7
    has a Senior Member HoreTore's Avatar
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    Default Re: Oh the woes of those poor, hunted billionares...

    Quote Originally Posted by Vladimir View Post


    You mock the plight of this man and don't realize that you (all of you) will pay the price. Detroit didn't turn into a cesspool overnight. It began with poor tax policy. A similar situation is happening in Maryland. How did he make his fortune? Grocery stores and supermarkets? Hardly a villian.

    I don't know the overall tax structure in Norway but I suspect the top marginal tax rate is more than 28%. Keep saying "good riddance" and you will say the same about many jobs in the future.
    As he was hardly paying any taxes at all, I doubt we'll miss him. 10 million a year? Pocket money.

    And the jobs he created stays in this country anyway, so....

    The top taxes are more than 28%, yes. But I would've been more than happy if he just paid his 28%. That's the least you can expect, isn't it? We're all the same before the law, right? But the thing is, he didn't pay 28%, he didn't even pay anything close to it. He paid a few percent in taxes. And then whines when he has to pay a percent more. Again, good riddance.
    Last edited by HoreTore; 07-27-2009 at 15:28.
    Still maintain that crying on the pitch should warrant a 3 match ban

  8. #8
    The Usual Member Ice's Avatar
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    Default Re: Oh the woes of those poor, hunted billionares...

    Quote Originally Posted by HoreTore View Post
    The lol-meter is going through the roof here in Norway these days, a nice substitute for our complete lack of sun...

    You see, the situation is that our richest man, Stein Erik Hagen, owner of a chain of grocery stores and supermarkets, is fleeing the country. Why? The tax burden is so high that, in his own words, "there comes a time when you either have to sell everything and quit, or pack your stuff and move somewhere else". He points his chubby finger at the current socialist government, and says they're "out to get him and people like him".

    So, what's the extortionate tax the government has imposed on him then? Well, this being Norway, everyone's tax information is freely available on the net, and a quick search reveals that he paid a grand total of...

    10 042 360 NOK in 2007, and 7 959 357 NOK in 2006(numbers for 2008 isn't available). This is a guy with a tax value of 1,2 billion, and an estimated wealth of around 8 billion...

    The standard tax rate in Norway is 28%, that's what I pay in taxes. Now, for him to pay the same tax as I do, he couldn't be making more than 30 million in 2007. A guy worth 8 billion. Making 30 million per year. Who builds palaces, has an army of servants and gives savings-advice like "don't buy new shirts every day, send them to dry cleaning in London instead"(true quote). Sounds likely? Nope. The real figure is probably some hundred million a year. So.... The tax he pays is what? 4-5%? And he's whining about that being extortionate?

    The clue meter is reading zero. Good riddance.

    I'm thinking you must have an odd tax structure with high marginal rates, but generous deductions/credits (even to the very wealthy? lol)

    As an accountant, I'm interested in reading more information, if available, about how he went about paying only 4-5% of his income in a country with such high rates.



  9. #9
    has a Senior Member HoreTore's Avatar
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    Default Re: Oh the woes of those poor, hunted billionares...

    Quote Originally Posted by Ice View Post
    I'm thinking you must have an odd tax structure with high marginal rates, but generous deductions/credits (even to the very wealthy? lol)

    As an accountant, I'm interested in reading more information, if available, about how he went about paying only 4-5% of his income in a country with such high rates.
    Questionable accounting and loopholes is my best bet.

    Heck, in 2006 his income was a grand total of zero...

    Unfortunately, the only numbers open to the public are the total income, total amount paid in tax and the tax value of all assets, how those numbers were created are not...
    Still maintain that crying on the pitch should warrant a 3 match ban

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