https://www.alainguillot.com/how-high-taxes-drive-talent-and-wealth-away-lessons-from-norway-and-beyond/

Can a country really have it all—great social programs and high taxes—without losing its best and brightest? Let’s talk about how high taxation is reshaping economies and talent flows around the world.Countries are in a global competition to attract the wealthiest and most talented individuals. But when taxes get too high, wealth and talent usually go somewhere else.

Take Denmark, for example. They raised taxes on their top earners, and guess what? Many of them left. Then Denmark had a problem, they could no longer afford their social programs. They needed the help of wealthy individuals to run the country. They lowered their taxes and the wealthy individuals came back.

This isn’t just about money. It’s about brain drain as well. High taxes don’t just push out wealthy individuals—they also push out top professionals. Doctors, engineers, entrepreneurs—they all get lured to places with better offers, like lower taxes or fewer rules.

So do you wonder where the wealthy go and what they do? Well France started tracking that, after France raised its top tax to 75%, many wealthy individuals left to countries such as Belgium or the U.K. and those individuals were then producing wealth for those other countries and not for France. So just like Denmark, France lowered taxes and the wealthy came back.

On the other hand, countries like Singapore and the UAE are doing the opposite. They’re rolling out the red carpet with low taxes, fewer restrictions, and incentives for innovation. These places are now magnets for millionaires looking for a better home for their wealth and talent.

Now, I’m not saying we should get rid of taxes altogether. Taxes are essential—they fund healthcare, education, and infrastructure. But it’s about balance.

Look at Finland and Sweden. They have high taxes but also high social trust. People there are generally okay with paying more because they feel like they’re getting value in return.

The takeaway here is simple: People will accept taxes if they believe they’re fair and well-spent. But when taxes feel excessive or wasted, dissatisfaction grows, and wealth looks for an exit.

So, how should countries compete? By finding the sweet spot—a tax system that funds public services and keeps talent and wealth at home."

What do you think? Are high taxes worth the risk of losing talent and wealth? Share your thoughts below, and don’t forget to like and subscribe for more insights!"

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