Taxing unrealized gains in any form is pure stupidity. As many people working in tech knows, illiquid shares in a company can and most likely be worth zero. Very few startups exit and the share valuation can't be relied due to so many things such as clauses that can make your share worth nothing even in an exit.

Imagine if you joined startup worth $5m. Some stupid VC decides to invest $1m and make your company worth $100m. Now you're paying a cash tax on $100m when you can't even sell anything. You'd personally go bankrupt because of a dumb VC.

I didn't vote for Trump. I don't like tax cuts for the rich and then tax the poor via tariffs. At the same time, I didn't like the fact that Kamala Harris floated the idea of an unrealized gains tax. Where are all the sensible candidates? Do they not have a voice because they're not radical enough?

Fix the loophole where billionaires use their unrealized assets as collateral for borrowing. When they do, make those as realized assets and tax them. Don't apply a blanket unrealized tax.

Property taxes, commonly used to fund local governments, are also a wealth tax. It undermines the entire concept of ownership. I wonder if Norwegians view that particular subset differently from what people normally consider a wealth tax.

Also - I’m surprised Norway’s wealth tax starts at such a low amount of wealth (125K GBP).