Spooky Obama

[Bond]

Originally Posted by Professor S

3) Regardless of tax rate, revenues have remained relatively stable as a percentage of GDP over the long term. The correct tax policy is the one that promote growth, not increase marginal rates. More money taxed = more money hidden from the economy. At best rich people are smarter than the IRS and put money in tax shelters. At worst they simply buy your favorite politician so tax laws don't affect them.

This point can't be overstated... it's hardly ever addressed in the mainstream media.

[Professor S]

Originally Posted by Bond

This point can't be overstated... it's hardly ever addressed in the mainstream media.

Who do you think i stole it from?

[Professor S]

For more evidence, look to the success of Estonia, known as the Baltic Tiger. Of all the former soviet republics, Estonia has flourished. Why? There are many reasons including access to natural resources, but one major factor could be their largely free markets and flat tax system.

A balanced budget, almost non-existent public debt, flat-rate income tax, free trade regime, competitive commercial banking sector, innovative e-Services and even mobile-based services are all hallmarks of Estonia's market economy.

Now they are an emerging market, but so were their neighbors. Success is relative.

Their rebound from the global recession is also very indicative of free market rebounds. Yes, there are economic crises in free market economies, but they also tend to recover much quicker.