Tuesday, December 18, 2007

Fancy a flat tax of 1.8%?

I know I do. As Bishop Hill reports, all one has to do is to become resident in a particular Swiss canton.
Via the ASI, the Cato Institute has a piece reporting that one Swiss Canton has introduced a flat tax with a rate of 1.8%.

Yes, you read it correctly, 1.8%. That's One Point Eight Percent.

The new tax regime in Oberwalden was introduced following a referendum in which 90% of voters voted in favour of the change.

Sensible types, the Swiss and, as the Cato Institute points out, it may have positive ripple effects.
This is positive news for tax competition within Switzerland, and it doubtlessly will put even more pressure on Europe’s welfare states to reform oppressive tax regimes. Presumably voters in other Cantons will now petition for a chance to vote for low-rate flat tax systems, and maybe it is just a matter of time ‘til one of them decides to completely eliminate the income tax.

Possibly. But I doubt that it'll have any effect on our pissing, crap-shit politicians or our pathetic, state teat-sucking, bleating, ignorant, apathetic population.

4 comments:

verity said...

I'm worried about that 10 per cent who didn't vote for it.

John Trenchard said...

unfortunately, i would hazard a guess that us mere mortals cannot move there unless we have about a million quid in a swiss bank account.

but i have to hand it to them. 1.8% is impressive.

is everything privatised in that canton?

Machiavelli's Understudy said...

unfortunately, i would hazard a guess that us mere mortals cannot move there unless we have about a million quid in a swiss bank account.

And you could hazard that guess, but you'd be wrong... Welcome to EFTA!

Ed said...

Bit high isn't it?