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#1
05-18-2006, 01:15 PM
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The Estonian miracle
Mart Laar, the former prime minister of Estonia, turned his country around by instituting a flat tax and privatizing 90% of government entitlements.
[ QUOTE ] Inflation dropped from more than 1,000 per cent to just 2.5 per cent, in line with western Europe. Unemployment fell from 30 per cent to six per cent and growth has soared to six per cent, a rate that Gordon Brown would envy. Investment poured in and the initial 26 per cent tax rate has been cut to 23 per cent. Next year, it will be cut again to 20 per cent. [/ QUOTE ] In April, Laar received the Milton Friedman Prize for Advancing Liberty. [ QUOTE ] "My main problem was I was not an economist but a historian," he said. "The only economics book I had read was Milton Friedman's Free to Choose." [/ QUOTE ] Pretty solid evidence that limiting taxes and government can have a very positive effect on a nation, almost immediately. 
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#2
05-18-2006, 01:45 PM
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Re: The Estonian miracle
I think that this is evidence that taxing capital gains and dividends at the same rate as ordinary income "can have a very positive effect on a nation, almost immediately."
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#5
05-18-2006, 05:43 PM
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Re: The Estonian miracle
[ QUOTE ]
Pretty solid evidence that limiting taxes and government can have a very positive effect on a nation, almost immediately. [/ QUOTE ] Somewhat solid evidence that if you replace a complete disaster with any non-complete disaster it will be sucessful.
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#6
05-18-2006, 06:09 PM
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Re: The Estonian miracle
[ QUOTE ]
[ QUOTE ] Pretty solid evidence that limiting taxes and government can have a very positive effect on a nation, almost immediately. [/ QUOTE ] Somewhat solid evidence that if you replace a complete disaster with any non-complete disaster it will be sucessful. [/ QUOTE ] Yes, the "complete disaster" you refer to was a socialist-style managed economy.
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#7
05-18-2006, 06:22 PM
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Re: The Estonian miracle
[ QUOTE ]
Mart Laar, the former prime minister of Estonia, turned his country around by instituting a flat tax and privatizing 90% of government entitlements. [ QUOTE ] Inflation dropped from more than 1,000 per cent to just 2.5 per cent, in line with western Europe. Unemployment fell from 30 per cent to six per cent and growth has soared to six per cent, a rate that Gordon Brown would envy. Investment poured in and the initial 26 per cent tax rate has been cut to 23 per cent. Next year, it will be cut again to 20 per cent. [/ QUOTE ] In April, Laar received the Milton Friedman Prize for Advancing Liberty. [ QUOTE ] "My main problem was I was not an economist but a historian," he said. "The only economics book I had read was Milton Friedman's Free to Choose." [/ QUOTE ] Pretty solid evidence that limiting taxes and government can have a very positive effect on a nation, almost immediately. [/ QUOTE ] [img]/images/graemlins/shocked.gif[/img] Right-wing newspaper praises right=wing policy. Milton Friedman disciple implementing right-wing policy wins Milton Friedman prize. Well slap me with a fish. Morocco is going to reach growth of around 6% this year and inflation is around 2%. Clearly it must be the envy of all other economies and we should therefore move to a high tariff, high illiteracy agriculture-based economy.
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#8
05-18-2006, 06:31 PM
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Re: The Estonian miracle
"Morocco is going to reach growth of around 6% this year and inflation is around 2%. Clearly it must be the envy of all other economies and we should therefore move to a high tariff, high illiteracy agriculture-based economy."
But Estonia did it with a highly literate and enterprising economy, after years of a disasterous socialist course. Therefore Estonia > Morroco.
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#10
05-19-2006, 12:04 AM
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Re: The Estonian miracle
[ QUOTE ]
But Estonia did it with a highly literate and enterprising economy, after years of a disasterous socialist course. Therefore Estonia > Morroco. [/ QUOTE ] LOL. Highly literate societies in an "enterprising economy" have a lot of advantages over the opposite. Do you see why?
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