Apr 192013
Tax competition — in which countries fight to lower taxes — hurts the poor and doesn't help the economy.
from The Guardian
"A myth we're repeatedly told is that a country must be 'tax competitive' in order to support a successful economy. It sounds so reasonable. We're taught that competition between companies keeps them on their toes and pressures them to produce better products and services, at better prices.
"But here's the problem: competition between companies in a market bears no economic resemblance whatsoever to 'competition' between countries on tax. They are utterly different economic beasts. …"
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