Low Taxes Bad. Punishing Low Taxes Good. What?
At the G-20 meetings in London, governments of the world came together and decided that:
Sanctions for non–cooperative tax havens and tougher world–wide financial regulations.
In theory, you could say that this makes sense. Companies are avoiding taxes by putting their businesses in low tax countries.
But in reality, wouldn’t it make sense to lower your own taxes and encourage companies to invest in your country, rather than punish them for going someplace else that is more favorable? This wrong headed thinking that “low tax havens” are bad is what is wrong with this planet’s leadership.
Maybe, just maybe, it exposes the larger problem - too high of taxes, too much regulation is the root of the problem. And that further regulation on the world marketplace isn’t exactly the correct solution here.
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Ernesto on April 11th, 2009
Hey! I was reading the HotAir post on the kinds of blog commenters and it convinced me to check out your blog. Snazzy place ya got here.
As for your post, all id say is that theres more to being a tax haven than low taxes. There are countries that have tax requirements for those earning income abroad and such…tax havens become a place to hide that sort of thing. Like money launderers rather than low tax eastern european economies (that all have serious foreign currency denominated debt thats swamping their balance sheets) =)