European Union officials and Treasury Secretary Janet Yellen are pushing for a global minimum corporate tax, and no wonder. High-tax countries are getting bled to death, while low-tax ones experience stunning growth.
Ireland, whose economy grew by 12.5% last year—faster than any other European nation—is one of the greatest tax-cutting success stories of modern times. The Journal recently reported that Ireland is “swimming in money.” It’s a vivid example of the Laffer Curve, which shows that lower tax rates can result in faster growth and higher revenue.
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