Tuesday, May 20, 2014

This is what I'm Talking about

Romania's prime minister is looking at eliminating and merging 92 taxes and fees. While the overall cost to the taxpayer & the revenue collected by the state won't change much the accounting & time wasted dealing with all the individual charges will be vastly reduced saving the citizens time, money and promoting more investment which should generate more revenue for the state.
When people whine about the American corporate tax rate, they ignore the fact that the USA has fewer taxes than most countries. The USA overall tax rate is actually very competitive but it's still mired by bureaucracy that stifles investment.
Increasing and creating new fees, as Cincinnati's Mayor John Cranley has proposed, is absolutely the wrong way to go.

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