Today however, things are different, and in countries like Norway, we pay up to 60% in taxes and fees combined. Imagine how incredible our lives could have been if we had private control over that extra 60%..
Do you think that the insane amount of consumer debt here in Norway (in relation to the amount of advertisements you see for consumer credit) is or could be correlated with the high amount of taxes? This might sound rhetorical, but I really don't know. However, my hypothesis is that, potentially, the amount of debt load one must take is in proportion to how much one can exploit from their labour; if they cannot exploit it to it's fullest potential in a consumerist society, they end up in debt much quicker than it should be.
For what it is worth, that 60% comes in both income, potentially wealth, and sales taxes (MVA, which amount to 25%, except for certain food products that last time I actually paid attention to a grocery receipt). And don't even dare to even include alcohol or tobacco.
Many people all around the world want to defer their financial wealth be it to government, the movements of the stock market or advisors. I think bearer instruments like precious metals or bitcoin is vote with your money, particularly when you are willing to hold it yourself.
Interesting theory. Didn't quite get my head around it. Maybe you could explain more in depth?
Well..it's a complicated and interesting question/theory you're asking/proposing..
High taxes, fees and regulations certainly incentivize debt driven economy. You always hear people saying " loans are basically free" and they are. I'm not sure if that's directly related to taxation, but I guess on some level it is? Since people try to avoid paying taxes (no one pays taxes with a smile around their mouth. People SAY they do, but we all know they are hypocritical assholes) they try to find as many loopholes as possible.
Came to think of it..as most norwegians identify as anti-capitalists..have you ever heard or seen a norwegian brag about how much they sold their house for? EVERY TIME :) "The market decides" "You know, it's all about supply and demand you know" lol..hypoctrites. NOW free markets are allright in your book, just because you finally made some money.
I'm not sure if that' what you meant?