Heavenly Tax Havens

Cato Institute ^ | February 26, 2008 | Daniel J. Mitchell

[Tolerance Sucks Rocks]

Daniel J. Mitchell, formerly of the Heritage Foundation, now works at the Cato Institute.

[stefanbatory]

Just invade...then it won’t be able to be such a pesky tax haven anymore.../sarc

[Paleo Conservative]

Tax competition first became a big issue following the Thatcher and Reagan tax cuts in the 1980s. Responding to the increased attractiveness of the U.K. and U.S. economies, every single industrialized nation has been forced to lower personal tax rates in an effort to stay competitive.

One of the big reasons why leftists vilify Reagan and Thatcher.

[groanup]

Liechtenstein has a tax code that rewards productive behavior

And the United States has a bill before congress that eliminates the income tax completely and creates a national sales tax. It would make the US the strongest tax haven in the world.

H.R 25

[Jacquerie]

Researchers have found that tax havens consistently rank as the best governed, most stable, fastest growing and most prosperous places in the world.

With the Fair Tax, the US would attract rivers of international investment capital. It would drive down interest rates, support the dollar and send the stock market soaring. Everyone, with the exception of democrat pols and their imagined victims wins.

[Man50D]

And the United States has a bill before congress that eliminates the income tax completely and creates a national sales tax.

The Fair Tax would be a tax haven compared to the income tax. No federal income taxes for individuals or corporations. Fair Tax ping!

[OKSooner]

BTTT

[groanup]

With all of the evidence throughout the world that countries fare far better with little or no income taxes than countries that have them, it is long past time to reform our tax system.

I have been on many tax threads and anti FairTaxers make themselves heard loud and clear about all the "pitfalls" of a national retail sales tax. Sure there are pitfalls. But where are the tax reform ideas?

The only one that I know of that has gotten any traction with politicians and voters is the FairTax. If someone has a better idea they sure haven't done anything about it.

[xcamel]

"Perhaps most amazing, there is now a flat-tax revolution sweeping the globe. In 1980, there were just three flat-tax jurisdictions. Today, prompted by Estonia's 1994 reform, there are 25 governments with simple and fair flat-tax regimes."

Thanks for helping to promote the Flat Tax.

[Hostage]

The FairTax is a truly American innovation far superior to any of the various flat-income-tax schemes that are in turn superior to their graduated income tax cousins.

Americans need not follow others in their flat-income-tax success, they have a better system that is much closer to the original ideas of its founders, the FairTax.

http://www.fairtax.org

[xcamel]

Got proof?
Hard numbers?

oh... wait...

[who_would_fardels_bear]

A flat tax plus ... tax incentives to produce certain types of energy plus tax penalties for producing too much pollution plus tax incentives for implementing Health Security Accounts plus tax penalties for exporting jobs plus tax incentives for locating offices in Empowerment zones plus tax penalties for failing to abide by a federal mandate equals what we got now.

Tell me how we ever get to a flat tax and stay there without a constitutional amendment prohibiting tax incentives and tax penalties.

[phil_will1]

“Perhaps most amazing, there is now a flat-tax revolution sweeping the globe.”

He must mean the part of the globe outside of North America because “the flat tax” (as if that term denoted a single proposal) sure isn’t sweeping the US. Politically, it’s on life support. If the flat taxers really wanted to get their proposal some traction, the first step would probably be to get the leaders like Dan Mitchell, Dick Armey and Steve Forbes together and let them determine the design of a specific plan that they could all get behind. And that proposal would not be a flat tax option, which I believe is what Mr. Forbes advocates.

[groanup]

Thanks for helping to promote the Flat Tax.

Well you certainly don't do anything to promote it. It would be a hell of a lot better than your current income tax scheme.

Do you favor a flat tax or a tariff?

Oh, what's the use. You already spent your wad on estate planning and, if the income tax disappeared tomorrow, you would have wasted your money. You have a vested interest in keeping the income tax so, never mind.

[xcamel]

You really love to live in the world of wild speculation, don’t you.

[xcamel]

People go with what works... that is unless your “fairtax people”

[groanup]

You really love to live in the world of wild speculation, don’t you.

Speculation? It was you, Mr. Dromedary, who made the outlandish claim that you (and your lawyers) engineered the largest tax free generational transfer of wealth in history. (At least that's what the lawyers told you as they handed you the bill).

In order to do that one must spend a substantial amount of money on design and trusts and so forth. It ain't cheap. Therefore you have a vested interest in keeping the income tax as it exists.

That's why you have never answered this question that I have asked you numerous times:

Do you favor maintaining the income tax and the IRS as they currently exist?

All: He's never answered that question although he comes on these threads as disruptor endlessly.

[xcamel]

You still favor the tax plan that creates the largest welfare entitlement in history?

You still feel the need to trade on personal information and denigrate others to feel better about yourself, when indeed you could learn something?

How’s your “best buds” TGA20 and b_babe doing? You keeping in touch?

[groanup]

You still favor the tax plan that creates the largest welfare entitlement in history?

Only an income tax preservationist could call returning someone's tax payment welfare and ignore the Marxist origins of the income tax.

You still feel the need to trade on personal information and denigrate others to feel better about yourself, when indeed you could learn something?

I have never traded in personal information and you know it. You, OTOH have attacked me and my profession and my clients in a very personal and base manner. You should have been banned from Free Republic.

How’s your “best buds” TGA20 and b_babe doing? You keeping in touch?

No.

It speaks volumes that you have ignored the substance of my previous post. Instead you make personal attacks. Typical, and not at all surprising.

[xcamel]

I think you better reread your own post, and rethink your answer. It’s obvious to everyone what you do and how you do it.

You attempt to denigrate everyone you disagree with as many, many would attest.

Worst of all, you attempt (unsuccessfully) to turn it around, acting all innocent, when everyone can see your version of “the emperor’s new clothes”

And when you post something with substance, naaah... not gonna happen.