Quote:
Originally Posted by Fuzz
While that's definitely part of it, I don't think Norway funneled any resource revenues into general revenue. Instead, they have a 25% VAT. So while it's easy to dismiss as Alberta being a province with transfer payments, we've still made terrible financial decisions around a PST, and we pay for it every year.
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Their income tax rates are also higher than we pay (Canada and Alberta combined). Norway as a society accepted much higher taxes in return for building this fund. That was also not without it's problems.