by Daniel J. Mitchell
The American Institute for Economic Research
Way back in 2007, I narrated this video to explain why tax competition is very desirable because politicians are likely to overtax and overspend (“Goldfish Government“) if they think taxpayers have no ability to escape.
[…] The good news is that tax competition has been working.
[…] As explained in the above video, there have been big reductions in personal tax rates and corporate tax rates. Just as important, governments have reduced various forms of double taxation, meaning lower tax rates on dividends and capital gains.
Many governments have also reduced – or even eliminated – death taxes and wealth taxes.