Most formerly communist countries are adopting capitalistic and fair Flat Tax systems, while the US continues with its socialist, unfair, and punitive Tax scheme.
Heritage Foundation | Daniel J. Mitchell, Ph.D. | Mar. 20, 2006
Thanks to globalization, many nations are adopting better tax policies. Certain politicians still believe in high tax rates, of course, but they feel compelled to move in the opposite direction since it is now increasingly easy for labor and capital to escape oppressive tax regimes by crossing national borders.
This is why so many nations had to lower personal income tax rates after the Thatcher and Reagan rate reductions – and why many nations have been lowering tax rates on business in response to Ireland’s incredibly successful 12.5 per cent corporate tax. They know the geese that lay the golden eggs will fly away if they impose bad tax law. [Read more…]