Tuesday
Dec182007
by 
Bishop Hill
Bishop Hill Flat tax in a developed economy
Dec 18, 2007 Tax Via the ASI, the Cato Institute has a piece reporting that one Swiss Canton has introduced a flat tax with a rate of 1.8%.
Yes, you read it correctly, 1.8%. That's One Point Eight Percent.
The new tax regime in Oberwalden was introduced following a referendum in which 90% of voters voted in favour of the change.
One of the main barriers to the introduction on flat tax regimes in the developed world has been the argument, supported by bodies like the OECD, that this kind of system would not work in developed economies. We're about to see this argument tested empirically for the first time, and I've no doubt that the naysayers are going to be proved resoundingly wrong.
Where's a nice place to live in Oberwalden?
Reader Comments (1)
I suspect they are all about to become extremely expensive. very quickly.