Nuance? A Norwegian Tale

Nuance was described in a past essay. The word comes from “nubes” the Latin word for cloud but then the French got involved and romanticized it into their own word for “shade” or “slight variation”, per Ai. My Ai goes on to add in the lovely English accent I selected: “Think of it as those little, delicate distinctions that can make a big difference.”

There is a beautiful illustration of nuance across the ocean in Norway. Norway has been ranked the happiest nation in the world for nine consecutive years, according to The World Happiness Report.* But happiness does not inoculate anyone from misunderstanding an idea because of a lack of knowledge about nuance. Norway recently raised their country’s Wealth Tax rate despite the argument that raising a tax on the wealthy would make the rich leave Norway for lower tax countries. After the new tax passed, many wealthy Norwegians left the country.

Showing true confirmation bias, many news outlets reported it as a “tax exodus” and determined The New Wealth Tax is too much of a burden for the rich. The new Wealth Tax is 1% to 1.1% depending on rich you are. Kind of high, right?

From: Money & Macro 28m 9-24-2026 Norway raised taxes on the wealthy and millionaires started leaving – the headlines missed the biggest part of the story “Norway’s decision to increase its wealth tax was followed by a noticeable wave of wealthy business owners moving abroad, (and) produced headlines that portrayed the policy as a failure. But the transcript argues that the amount of taxable wealth leaving was relatively small and that higher wealth-tax revenue more than offset the departures. Its analysis instead points toward Norway’s capital-gains exit-tax rules as a major reason entrepreneurs had an incentive to move when they did. The broader lesson presented is that modest wealth taxes and aggressive exit taxes can create very different economic incentives.”

For a good, sleepy read, look at “The High Cost of Wealth Taxes”, by Christine Enache for the Tax Foundation Europe, dated June 6, 2024. It makes the case that taxing rich people doesn’t generate any new revenue, is illegal, and only four countries in the world still use the tax. Norway and Switzerland are two of those countries and both are in the Top Ten of Happy Countries. Coincidence?

WTF. Taxing rich people is illegal?** Or is it taxing them more than once that is illegal? Why would it not generate revenue? Or does it just not generate enough?

The whole issue is one big, bag of nuance. But it appears a lot of that “nuance” is “chatter”, “fluff”, even misinformation meant to make sure governments know NOT to tax the rich any differently than other citizens.

If you are rich or hope to be you want low taxes or none at all. Why? There appears to be a rich mindset that says this: “just because I’ve figured out a way to make more money than you, don’t make me pay more for the privilege.” Nuance? Yes. The few rich people I know have a very nuanced view of the non-rich. It’s not just the poor. It is an ambivalent belief about how the rest of us are not smart enough and greedy enough to take what anyone will give us.

The actual impetus for Norway’s Tax Exodus wasn’t related to the new HIGHER 1% tax. It was related to a previous law that was about to take effect, about what wealth is and how it gets “counted.” Just like in America and other rich countries, the tax code used to tax us, the citizens, is riddled with holes where nuance used to be, or strangled by layers of nuance when a simple sentence may have been enough.*** Even better, all of this is understood by tax attorneys, and advisors whose sole purpose is to use nuance, create nuance, or eliminate nuance so their clients can make, keep, and do whatever they want with money.

Holy crap there isn’t enough space for this subject. Stop reading.

But remember nuance. The lack of seeing it, recognizing it, and understanding it is ruining our world’s discourse and civility. Nuance is the opposite of opinion and is always present. Think of it before you speak. To paraphrase Dr. Wright: “A conclusion (opinion) is the place where you got tired of thinking.”

*Google It.

**I have anew appreciation for Robin Hood.

***Damn lawyers. We’re almost to the point where “simple sentences” are extinct.

Last T@#$% Column, promise

I can’t resist talking about how happy billionaires are over the Trump presidency. They are all giddy with excitement. Jubilant.

Why? To the rest of us, the “game” of making money is nice and distracting, but most of us “work” to get money. We make things. We fix things. We help others make things and fix things. We might even talk about how others make and fix things.

Not so in the Game of Money (GOM). In GOM the idea is to make as much money FROM other people as possible, and it’s even better if you don’t have to do any work. The Stock market, for example. Even those of us who work for our money, know you can make big bucks by betting correctly in the Stock Market. But we are careful to bet because we know we can lose, and when a worker loses money, it hurts.

But in GOM, a billionaire can bet one of his millions on a stock and if the stock comes in, the billionaire makes more millions. If the stock loses, the billionaire lost .001% of his worth. No pain. Imagine how it warps GOM for un-rich players.

Trump intends to skew GOM so billionaires can make more money, more millions, more billions. Lower taxes for me mean about $100 extra a month in income. Lower taxes in the GOM world, mean millions of dollars in new income for the billionaires.

Wonder what they’ll do with all that money? I’ll tell you. Most re-invest in GOM and make more.

Anyone of us can enter the GOM but how many of us see value in work? In helping others? In getting things done? In getting things fixed and running? I’ll bet most of the Trump voters are hard-working people who want that extra $100 a month. Sadly, the cost of that bonus is going to be steep.

Will Rogers labeled it “Trickle Down Economics” in response to then-president Hoover’s policies. Ronald Reagan picked it up in the 1980’s. “Trickle Down Economics” pretty much means that when the billionaires have taken as much as they want, some of the rest might trickle down…

What’s different this time is we have a new class of billionaires who don’t even care about “The Trickle”. Trump and Musk and their ilk just want more. And now it’s not just money but power, too. They talk of buying up entire companies and industries so they can shut them down. Entire existing Departments of Government, too, Shut them down.

It’s important to remember history. In the history of Capitalist America, the only thing standing between billionaire wanna-be-kings, (Carnegie, Mellon, et. al.) are laws, regulations, and enforcement by a centralized, powerful government.

Can you see why the billionaires now want to control the government, too? I can.

God help us non-billionaires, even the Trump voters.