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It just seems like if we had of kept the money and re-invested it... like Norway did... that we would have been much better off in the long run.
by atheg33 10y ago
It just seems like if we had of kept the money and re-invested it... like Norway did... that we would have been much better off in the long run.
- gaius 10y agoWe could ask the same question in the UK. Successive governments believed in using the money to lower taxes instead. Whether that was right or wrong no-one can really say - but consider that around the time the North Sea came online, income tax was as high as 83% and tax on income from investments was 98%. http://www.spectator.co.uk/2008/04/why-hasnt-britain-got-a-sovereign-wealth-fund/ http://www.spectator.co.uk/2008/04/why-hasnt-britain-got-a-s...