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Illusion of welfare state
Wednesday, August 10th, 2011
August 9, 2011
… higher tax rates do not necessarily equal higher revenues when compared with a moderately taxed nation. A high-tax, inefficient tax regime can slow economic growth and encourage tax cheating and depress tax receipts… for decades, government borrowed massively to finance current social programs out of future tax revenues and handed the bill to future generations. It led to the illusion that the welfare state was sustainable.
Tags: economy, ideology, standard of living, tax
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