11-10-2005, 04:51 PM
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#1 (permalink)
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Uber Member
Join Date: Sep 2004
Location: Woking
Posts: 32,072
Party: Libertarian Party
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Flat Tax all the way baby
http://www.iris.org.il/blog/archives...wth-Rates.html
Quote:
I believe this is one of the biggest pieces of economic news ever. Milton Friedman's single-postcard flat tax idea has finally started catching on (ten Eastern European countries, with four more in Europe close to adoption). 2004 GDP growth rates there averaged a staggering 8%, well over twice the industrialized nations' average of 3.4%. Of course these flat tax rates vary widely, from 12-33%. Among the six lowest-taxed countries, growth rates are the highest: 8.6%. The lowest-taxed three have 9.5% growth.
Georgia (12% tax rate, 9.5% growth-est.)
Russia (13% tax rate, 7.1% growth)
Ukraine (13% tax rate, 12% growth-est.)
Serbia (14% tax rate, 7% growth)
Hong Kong (16% tax rate, 8.1% growth)
Romania (16% tax rate, 8.1% growth-est.)
Slovakia (19% tax rate, 5.3% growth-est.)
Estonia (24% tax rate, 6% growth-est.)
Latvia (25% tax rate, 7.6% growth-est.)
Lithuania (33% tax rate, 6.6% growth-est.)
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Notice, lower the rate, higher the growth. It aint rocket science is it!
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