Summary
POLITICAL commentators seem to have swallowed Labour's "zero- sum" tax fallacy: that lower tax rates mean lower revenues and less to spend on schools and hospitals. This defies decades of experience in dozens of countries.
It might be true if economies were static. But they are dynamic. Lower tax rates mean less avoidance, more investment, higher growth, greater prosperity - and, yes, higher revenues and better public services. Counterintuitive it may be, but lower tax rates mean more, not less, revenue. That is why lower taxes are not just electoral window-dressing. They are good economics. And they are a moral imperative. Sadly, this is a lesson that Labour, the LibDems and the SNP, as economic dinosaurs, never seem to learn.See the full content of this document
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