SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Politics : Formerly About Advanced Micro Devices
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: tejek who wrote (357088)11/5/2007 2:49:07 PM
From: TimF  Read Replies (1) of 1574493
 
There are quite a few problems with that article.

1 - It mis-categorizes Hayek's points. Hayek attacked socialism as the road to serfdom. He didn't pick out some personal income tax rate and say "this rate is ideal.

2 - Australia, Canada, Ireland, New Zealand, the U.K. and the U.S. are decidedly not laissez-faire countries.

3 - The Scandinavian countries are small in terms of population. Also they are far from being the only examples of higher taxed countries. Sachs is cherry picking his examples.

4 - Even with the cherry picking, the data doesn't support Sachs' conclusion. The US and Ireland are wealthier than almost all of the Scandinavian countries (by per capita PPP GDP). Canada is wealthier than Sweden. In recent years Ireland has performed better than the Scandinavian countries.

5 - To the extent that the Scandinavian countries have had economic success, one major reason, is one that Sachs' points out but doesn't make much of - "Tax rates on capital are relatively low." Low taxes on capital is something Hayek would have been very likely to support. Its hardly evidence that Hayek was wrong, or that high tax rates are a good thing.

For more see
If Sweden was a U.S. state, how rich would it be?
Message 24021325

Message 24026642
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News