Comments on: Time for the Flat Tax http://www.bloggernews.net/120567 High-quality English language analysis and editorial writing on the news. Fri, 17 Feb 2012 01:06:49 +0000 http://wordpress.org/?v=2.3.3 By: Neutron http://www.bloggernews.net/120567#comment-1151932 Neutron Thu, 23 Apr 2009 00:12:02 +0000 http://www.bloggernews.net/120567#comment-1151932 I checked up on a few more flat tax countries' current economic condition. Russia - economy expected to shrink by 6% this year Ukraine - economy expected to shrink by 9% this year - had to get bailout from IMF Iceland - economy expected to shrink by 10% this year, had to get bailout from IMF - and has probably suffered the worst financial collapse of the global recession FYI, the US economy is expected to shrink by only 2.8% this year...which is considerable, but not near as bad as these flat tax countries are doing. Romania and Serbia (two more flat tax countries) are also seeking multi-billion dollar bailout loans from the IMF. So gee, out of the 12 countries using the flat tax, over half of them aren't doing so well, and one has suffered the worst economic collapse of any country on the whole planet. I checked up on a few more flat tax countries’ current economic condition.

Russia - economy expected to shrink by 6% this year

Ukraine - economy expected to shrink by 9% this year - had to get bailout from IMF

Iceland - economy expected to shrink by 10% this year, had to get bailout from IMF - and has probably suffered the worst financial collapse of the global recession

FYI, the US economy is expected to shrink by only 2.8% this year…which is considerable, but not near as bad as these flat tax countries are doing.

Romania and Serbia (two more flat tax countries) are also seeking multi-billion dollar bailout loans from the IMF.

So gee, out of the 12 countries using the flat tax, over half of them aren’t doing so well, and one has suffered the worst economic collapse of any country on the whole planet.

]]> By: Neutron http://www.bloggernews.net/120567#comment-1151843 Neutron Wed, 22 Apr 2009 22:27:35 +0000 http://www.bloggernews.net/120567#comment-1151843 The author claims that "America will prosper if it adopts the flat tax judging by the dramatic improvement in the economies of the twelve foreign countries, which switched to the flat tax." Ummm, you need to keep up with the international news more. Estonia's economy is in bad trouble, and is expected to shrink by over 10% this year. Ditto for Lithuania. Latvia's economy is expected to shrink by 12%, and they had to get a $10 billion bailout from the International Monetary Fund. All three of these countries have the flat tax. The author claims that “America will prosper if it adopts the flat tax judging by the dramatic improvement in the economies of the twelve foreign countries, which switched to the flat tax.”

Ummm, you need to keep up with the international news more. Estonia’s economy is in bad trouble, and is expected to shrink by over 10% this year. Ditto for Lithuania. Latvia’s economy is expected to shrink by 12%, and they had to get a $10 billion bailout from the International Monetary Fund. All three of these countries have the flat tax.

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