Tuesday, May 29, 2007

The Laffer Wars?

Here's your double-take headline of the day: "Tax-Cut War Widens in Europe..."

The big European countries need economic growth badly. How badly? So, badly that they are tripping over themselves to cut corporate taxes. Maybe they know something? Even the Zapatero government in Spain is cutting the tax rate. Microsoft comes out and says that tax considerations are "key for us" in their investment decisions. Yet, there are still doofus economists at multi-lateral organizations who still are clueless..."Evidence on the links between taxes and investment is not fully conclusive," says Stefano Scarpetta, an economist at the Paris-based OECD." Yes, all these companies are lying when they say the link is about as direct as it comes.

So when will the US get in the game??????

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