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Less Taxes, More Growth

Daniel Henninger is always worth a read.   Here he notes that decreasing taxes has become a world wide trend, and those countries that are doing it are in leading in economic growth. The former sad sack of Europe, Ireland, now boasts one of its most robust economies thanks to a low flat tax.

Neal Boortz has been making a case for the Fair Tax which would be a national consumption tax and junking the entire income tax code. Someone needs to embrace this idea and run for national office, I think they would win the day.

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2 responses to “Less Taxes, More Growth”

  1. Chevy Norwood Avatar
    Chevy Norwood

    I wholeheartly agree with Henninger’s statement that decreasing taxes has become a world wide trend. I recently read, Adventure Capitalist, by Jim Rogers, which addressed the issue of declining taxes world wide. For example, the Chinese government promotes saving by not taxing long-term savings. The average Chinese citizen saves between 30-40 percent of their total annual income! On the other hand, an average American only saves 1 percent of their annual income. The majority of the American public doesn’t save because saved earnings are taxed too heavily! Due to long-term saving and a conservative taxing policy, the Chinese economy is moving at a faster pace than the American economy. I believe that a flat tax should be imposed. Also, I feel that the American government should promote long-term saving by reducing taxes! Being a young consumer, I find it very hard to save, but I am making an honest effort!

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  2. Dennis Elam Avatar
    Dennis Elam

    Well done Chevy, clearly you are connecting Rogers comments with growth and tax policy. Were I a politician on the national scene looking to break out of the pack, a new approach to taxes would be my central issue.

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