This article appeared on IFC Review.

More than half of the states have now joined the tax-cutting club.

Possible policy responses to mitigate the harm to the U.S. economy.

People are taking their money out of Latin America.

Having no income tax pays off for Texas and Florida.

Will the US finally stop subsidizing this big cheerleader for higher taxes?

It has the worst tax system among industrialized nations.

There’s a glimmer of hope that a few states will jettison their income taxes.

States like Arizona and Iowa have made immense progress.

Politicians in high-tax nations have always resented tax competition and they have been working through left-leaning international bureaucracies to push for various forms of tax harmonization.