Under the heading of “even a blind squirrel finds a nut,” Denmark targets deep tax cuts. What are we waiting for?
Peter Levring writes at Bloomberg:
By encouraging more people to work, the government expects to generate more revenue via sources such as value-added tax, Jensen said during a press conference in Copenhagen.
“There’s still room for growth in public spending, and room to prioritize, as this government does, welfare for Danes,” Jensen said. He said critics of the government’s plan were guilty of a “simplification” of economic principles. “This is not a zero-sum game” between taxes and welfare, he said.
Denmark boasts the planet’s highest tax burden relative to gross domestic product (the OECD estimates the figure was about 47 percent in 2015, the fattest ratio in the rich world). That revenue is used by the state to make sure Danes have universal access to free education, hospitals, childcare and elderly care.
Read more here.
- Coronavirus Infects Stock Market: Part XIX - March 26, 2020
- Coronavirus Infects Stock Market: Part XVIII - March 25, 2020
- You Must Protect Your Business: Looters Hit Walgreens in San Francisco - March 25, 2020