Friday, September 26, 2003

WHERE'S STEVE FORBES WHEN YOU NEED HIM?

In the last Presidential campaign, Steve was the only proponent of the "flat tax" -- a concept that says there is a flat tax rate that is low enough to enduce folks to report all their income, and many who spend tens of thousands of dollars on attorneys and accountants to avoid paying any tax will happily pay up if they deem the tax to be "fair". The net effect being overall revenue will increase.

And you'll remember the Laffer Curve, which theorizes that lowering tax rates stimulates economic acitivity, which generates proportionately more profits, which results in an increase in taxes collected.

Of course, these concepts are of utmost heresy to left-liberals, who insist the "rich" must pay a penalty for their wealth, as though life were a zero-sum game. Further, they will argue at leength that these theories have never been proven.

I only wonder if they were alive in America during the Reagan administration and shortly afterwards?

But we needn't look solely inward. Bruce Bartlett points to evidence elsewhere in the world that says it works.




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