The Flat Tax Revolution Sweeps Across Eastern Europe
I’ve already shown that the flat tax rate works for the Eastern European nation of Estonia. Well, it turns out Estonia is just one of a whole Warsaw Pack of Eastern European countries that have adopted the system - not the least of which is one you’ve heard of: Russia.
Revenues increase for these countries because tax evasion goes down. It’s cheaper for the rich to just pay their taxes. Try telling American Democrats that we have a system proven to decrease tax evasion from the rich and see if they support it before you tell them it’s a flat tax rate.
In Russia, where they adopted just a 13 percent flat tax rate (Fred Thompson suggested having two tax rates for America - 10 and 25), personal income tax revenue has doubled since 2001, even adjusted for inflation. That provides a nice little example for Republicans to point to.
It’s no wonder the flat tax is spreading through Eastern Europe like acne on a teenage nerd. I’ve already told you about Estonia. But check out the other countries that have joined the bandwagon:
- Latvia (25%)
- Lithuania (33%)
- Serbia (14%)
- Slovakia (19%)
- Ukraine (13%)
- Romania (16%)
- Georgia (12%)
Under these flat tax rates, which keep in mind American Democrats still reject as being too easy on the rich, the wealthiest still pay a lot. The top 10% wealthiest in Estonia pay 41% of the taxes.
Slovakia, a relatively recent adopter of the flat tax, has already seen growth. It’s being called the Detroit of Europe because car manufacturers are flocking there (not because of murder).
Soon, Poland and the Czech Republica might see a flat tax, possibly followed by Western European nations. Hey, maybe the United States will join in one day.
Anyone still think it’s a bad idea?
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