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Tax
Tax Tuesday
18Dec
Flat tax in a developed economy
Tuesday, December 18, 2007 at 06:54PM 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?
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Response: Swiss Canton votes for 1.8% Flat TaxMore than 90 percent of voters in the Swiss Canton of Obwalden have voted for a flat tax of just 1.8 percent. This is positive news for tax competition within Switzerland, and it doubtlessly will put even more pressure on Europe’s welfare states to reform oppressive tax regimes.
Reader Comments (1)
I suspect they are all about to become extremely expensive. very quickly.