Monday, December 03, 2012

The Global Rise of Punishing Taxes

From the New York Times, no less, comes a very illuminating article on how Nanny States everywhere are becoming ever more aggressive in picking the pockets of their citizens.

Alas, there's no place to hide.

But could it be that even the mainstream press is beginning to realize that the tax rates being demanded by governments around the world 1) cheat those having to pay them, 2) are then inefficiently spent (creating yet more demand), and 3) stifle economic production so badly that the citizenry has no way to ever catch up?

At least Conrad de Aenlle, the reporter who wrote this article seems to be finally catching on. "But economists and financial advisers view [all these new and higher taxes] as a triple threat to taxpayers: out-of-pocket costs, of course, and the prospect of stunting future economic growth and limiting investment returns."

And my favorite observation from the piece?

"If the expanding tax bite around the region makes you want to cry in your beer, being in France could cost you more on that score, too. The beer tax is due to rise 160 percent."