Saturday, March 08, 2008

Public Education And Higher Taxes.

The successes of lower tax rates, deregulation, privatization, and freer trade are obvious to all who care to look, yet both in Europe and the United States many in the political class are running from these successful policies.

Reduction in both maximum individual tax rates and corporate rates for the world's freest and most successful countries, such as Singapore, New Zealand, Ireland, the US, and others has resulted in much greater tax revenues for the governments as tax impediments to work, save and invest are diminished.

Despite this evidence of success, Sens. Hillary Clinton and Barack Obama want to increase the top tax rates, though there is no evidence that raising the top rates will result in any more revenue but there is evidence it will result in slower growth.

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