Wednesday, Jun 23, 2010
What do you think?
The Register: Bloody George's Budget: How bad is it really?
Sorry not directly related to houseprices...
"...
The second thing that will cause screaming is the joint lowering of the corporation tax rate and the raise in the VAT rate. The general consensus here, at least on the left side in this country, is that companies should pay lots and lots of tax while VAT is regressive and thus should be as low as possible. Well, yes, but this slightly fails the basic tests of a desirable taxation system. We do know that all and any taxes (yes, I'm sure there will be a land taxer among you - LVT does this the least which is why it is the most desirable of all taxes) create distortions. Distortions can reduce the future growth rate.
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Posted by si @ 10:28 AM (308 views) Add Comment
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