I recently speculated whether Detroit’s fiscal problems should be a warning sign for the crowd in Washington. The answer, of course, is yes, though it’s not a perfect analogy. The federal government is in deep trouble because of unsustainable entitlement programs while Detroit got in trouble because of a combination of too much compensation for […]
read more...Maybe this means I’m not a nice person (notwithstanding my high score for tenderness in a recent test), but I can’t help but be happy when I read bad news about fiscal policy in high-tax welfare states. And because I’m a huge fan of tax competition, I get even happier when I find out that […]
read more...It’s probably not an exaggeration to say that the United States has the world’s worst corporate tax system. We definitely have the highest corporate tax rate in the developed world, and we may have the highest corporate tax rate in the entire world depending on how one chooses to classify the tax regime in an […]
read more...President Obama promised he would unite the world…and he’s right. Representatives from dozens of nations have bitterly complained about an awful piece of legislation, called the Foreign Account Tax Compliance Act (FATCA), that was enacted back in 2010. They despise this unjust law because it extends the power of the IRS into the domestic affairs […]
read more...I like tax havens for the simple reason that we need some ways of restraining the greed of the political class. Simply stated, if profligate politicians think that we are “captive customers,” they are much more likely to impose (even) higher tax rates (as we’ve seen in the past couple of years in Europe). But […]
read more...What’s the biggest fiscal problem facing the developed world? To an objective observer, the answer is a rising burden of government spending, caused by poorly designed entitlement programs, growing levels of dependency, and unfavorable demographics. The combination of these factors helps to explain why almost all industrialized nations – as confirmed by BIS, OECD, and […]
read more...I never thought I would wind up in Costco’s monthly magazine, but I was asked to take part in a pro-con debate on “Should offshore tax havens be illegal?” Given my fervent (and sometimes risky) support of tax competition, financial privacy, and fiscal sovereignty, regular readers won’t be surprised to learn that I jumped at […]
read more...I’ve relentlessly complained that the United States has the highest corporate tax rate among all developed nations. And if you look at all the world’s countries, our status is still very dismal. According to the the Economist, we have the second highest corporate tax rate, exceeded only by the United Arab Emirates. But some people […]
read more...feel sorry for the people of California. They’re in a state that faces a very bleak future. And why does the Golden State have a not-so-golden outlook? Because interest groups have effective control of state and local political systems and they use their power to engage in massive rip-offs of taxpayers. One of the main […]
read more...Regular readers know that one of my main goals is to preserve and promote tax competition as a means of restraining the greed of the political class. Heck, I almost wound up in a Mexican jail because of my work defending low-tax jurisdictions. As you can imagine, it’s difficult to persuade politicians. After all, why […]
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