Monday, January 30, 2012

Economics: Taxes

Here's something I bet you never thought you'd see: Oklahoma, in an effort to improve its standing as a business-friendly state, is planning to phase out its income tax altogether over the next 8 years.

There's lots of years of evidence and data if anyone wants to collect it that will show that states with low or no income taxes do better economically than states with such taxes. A tax, after all is a penalty you pay for being successful. The more successful, the higher the penalty.

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