Friday, February 13, 2009

Cato in 2007: Emulate Iceland!

Brad DeLong flags a series of horrendous articles by Cato Institute "scholar" Daniel Mitchell, but the best one is the article exhorting advanced economies to emulate Iceland:

March 21, 2007: Iceland Comes in From the Cold With Flat Tax Revolution: Listen up, Gordon Brown and George Osborne. Iceland has joined a growing list of nations that have sharply cut their corporate tax rates and adopted flat-rate individual income taxes, with hugely positive consequences on economic performance.... The reduction in the top tax rates was introduced to cut penalties on productive activities.... All these reforms have helped Iceland climb from 26th to ninth in the "Economic Freedom of the World" rankings since 1990.... Tax reform and economic liberalisation have helped Iceland prosper. Let's hope that other industrial nations – and especially Brown and Osborne – will learn from Iceland's success...
As the Sports Guy would say, a 10 on the Unintentional Comedy scale.


Rick said...

This sounds like something DeLong would say. The collapse of Iceland was not the flat tax or the lowered interest rate. The collapse was due to over leveraged private banks which then had to be nationalized. Does that not sound familiar?

How about the US: over leveraged banks and a country that is bankrupt when you consider the present value cost of medicare and social security.

So, the comedian is actually DeLong.


Trần Duy Thuận said...

Trần Duy Thuận Blog đang cần nhận gia công tại nhà. Ai có cần người nhận gia công tại nhà tphcm liên hệ mình nhé. Truy cập vào đặt vé máy bay giá rẻ vietjet để có thêm kinh nghiệm khi đi máy bay nhé.

Fire Ball said...

Khi đến với thằng ghờm shop nơi chuyên cung cấp đồ điện máy cũ hàng đầu với chất lượng đảm bảo. Đến với thằng ghờm bạn có thể tìm thấy máy lạnh cũ giá rẻ, máy giặt cũ giá rẻ nơi chuyên bán tủ lạnh cũ giá rẻ. Hãy đến với chúng tôi để tìm thấy cho bạn sản phẩm bạn cần.

Cập nhật những kiến thức mới lạ như atsm là gì, thẻ tín dụng là gì,... qua mục kiến thức tổng hợp.