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Taxes Around the World |
| Section: CURRENT ISSUES / SPECIAL REPORT--TAXES: HOW MUCH IS ENOUGH? |
| Author: David R. Burton |
| Publication: The world & I online |
| Issue Date: 4/1/2003 |
| Size: 2,346 Words, 15,335 Characters |
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If you think taxes are high in the United States, don't even consider getting a tax break in any of the European Union nations. The EU imposes dramatically higher taxes than does the United States. While U.S. taxes average about 30 percent of GDP, EU tax levels average about 42 percent of GDP and can exceed 50 percent. This means that all Europeans bear a heavy tax burden, but businesses and middle- or upper-income individuals bear crushing tax burdens. These high taxes have had a pronounced adverse impact on European economies. They are a key reason why disposable incomes and economic growth rates in Europe consistently lag behind those in the United States and why Europe has suffered high unemployment rates for nearly two decades.
Ireland, however, is a shining exception. It has stead...
. . .
...n state has demonstrated time and again during the last century, is it prudent to trust governments with the power to identify, defund, and cripple their political opponents, suppress religious freedom, and control the lives of their citizens? The UN, OECD, and EU initiatives should give pause to anyone who attaches even the slightest value to financial privacy and the benefits of tax competition.
(806 of 15,335 characters)
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