Dan Mitchell of the Cato Institute says there are now 14 nations with flat taxes, 10 of them in nations formerly behind the Iron Curtain. “The pace of tax reform in these nations is so frantic, that it’s hard to keep up to date with the changes,” he says.
Unfortunately the U.S. Democratic Congress wants to go the other way: cut economic growth by increasing taxes.
Some of this tax chopping in Old Europe is a response to the success of the U.S. tax rate reductions and the fast pace of job creation that ensued from economic growth — though few European officials will acknowledge that reality. But a bigger factor more recently has been the impact of the flat-tax revolution in Eastern Europe.
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