Definitive Proof that the Flat Tax Works
Case Study Monday, ladies and gentlemen: an eastern European country that runs the Flat Tax! I always wondered what it would be like to just try these wacky conservative economic ideas on countries in real-life; turns out Estonia has been running the Flat Tax for a while.
Estonia, formerly of the Soviet Union, runs on the Flat Tax system. This means that everyone above a certain poverty line pays the same percentage of their income to the government. Not only that, but they’ve privatized many of their systems and adopted a capitalist way of life.
The results? Estonia has a booming economy. It has a GDP growth characterized by Wikipedia as “high” (about 10% annually). After the Flat Tax was installed, huge corporations like Microsoft moved in. Foreign investment increased leaps and bounds. They’re nearly energy independent.
Meanwhile, in the United States, just DOING taxes costs us over two hundred billion dollars’ worth of time every year. In Wisconsin, we have a governor who raises taxes on anything he can get his hands on. Even if we have a President who’s spending more than anyone since LBJ, at least Estonia shows us that there’s always hope - even if you were once under Communist rule.
Even those who want Government tax breaks - like Mitt Romney’s health care credits - still would leave the government in charge of your money, even if you get it back. How about less intervention, lower taxes, and more privitization? If it works for Estonia, we can do it too!
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