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Cato in 2007: Emulate Iceland!

By Anonymous

Brad DeLong flags a series of horrendous articles by Cato Institute "scholar" Daniel Mitchell, but the best one is the article exhorting advanced economies to emulate Iceland:

March 21, 2007: Iceland Comes in From the Cold With Flat Tax Revolution: Listen up, Gordon Brown and George Osborne. Iceland has joined a growing list of nations that have sharply cut their corporate tax rates and adopted flat-rate individual income taxes, with hugely positive consequences on economic performance.... The reduction in the top tax rates was introduced to cut penalties on productive activities.... All these reforms have helped Iceland climb from 26th to ninth in the "Economic Freedom of the World" rankings since 1990.... Tax reform and economic liberalisation have helped Iceland prosper. Let's hope that other industrial nations ? and especially Brown and Osborne ? will learn from Iceland's success...

As the Sports Guy would say, a 10 on the Unintentional Comedy scale.

Full post as published by Economics of Contempt on February 13, 2009 (boomark / email).