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Is Glenn Davis ahead of his time? Well, Estonia has the BEST Tax Policy

The Tax Foundation just issued again this year the comparison of tax policies for what amounts to the developed world (the 34 nations of the OECD – Organisation for Economic Co-operation and Development [now I am a bit skeptical of groups of nations like this but this opinion is not the OECD but the Tax Foundation) and they came to this conclusion:

For the fourth year in a row, Estonia has the best tax code in the OECD. Its top score is driven by four positive features of its tax code. First, it has a 20 percent tax rate on corporate income that is only applied to distributed profits. Second, it has a flat 20 percent tax on individual income that does not apply to personal dividend income. Third, its property tax applies only to the value of land, rather than to the value of real property or capital. Finally, it has a territorial tax system that exempts 100 percent of foreign profits earned by domestic corporations from domestic taxation, with few restrictions.

Fourth year in a row?  Estonia?  (The US was 30th of 34th!  Now we’d move up to number one if we repealed the First Evil of 1913 [the income tax], most money laundering laws, and restored financial privacy.)

If Estonia is familiar to my readers it is because this nation is the country where Del. and candidate for LG Glenn Davis went to – on his own dime.  What does Glenn Davis know that we don’t know? Too bad we won’t find out what sort of Lieutenant Governor Davis would have been.  At least not until 2022…maybe!

I have already endorsed Davis at this blog for LG and delegate.  He’s the guy with ideas.  Let’s keep him in the game in Richmond.  Vote Davis in the 84th district next Tuesday.

 

About Elwood Sanders

Elwood “Sandy” Sanders is a Hanover attorney who is an Appellate Procedure Consultant for Lantagne Legal Printing and has written ten scholarly legal articles. Sandy was also Virginia’s first Appellate Defender and also helped bring curling in VA! (None of these titles imply any endorsement of Sanders’ views)

2 Responses to “Is Glenn Davis ahead of his time? Well, Estonia has the BEST Tax Policy”

  1. Bob Shannon says:

    Simplicity seems to be the ticket, and the convoluted tax system in the U.S explains why we rank so low.

    It also spells doom for the tax reform proposal rolled out by the feckless republicrats yesterday for no other reason than what begins now…..the rolling of individual members of Congress by the legions from K street that will now officially begin their targeted and well financed assault on the proposed reform. It will look nothing like what was proposed yesterday by the time it emerges from the political ” chop shop”.

    At every level local, state and federal the tax code is and has been the ” dirty currency” of politicians. It is almost comical to hear these political hacks rail against the tax breaks for this group or that group, when it was often the very same members ( many of them have indeed been there long enough ) who orchestrated the tax breaks/exemptions to begin with.
    The tax code is both their hammer and scalpel….patrons who line up at every election cycle are the ones who get favorable treatment , while the rest of us get the _______
    If one understands why Austrian economics are shunned by those responsible for selecting high school/college curriculum text books it isn’t that difficult to clearly see how they have pulled the propaganda scheme off so successfully and now have an American citizenry that constantly ( and incorrectly) scream for corporations paying their fair share. I find it amusing when I question one of these dunderheads with …….” just where do these evil corporations get their money to begin with ? ” Corporate taxes are nothing more than another cost/overhead that they pass on to the same folks who purchase their goods & services.

    Real tax reform won’t happen unless and until a economic collapse occurs. Only then will honest voices of integrity tell the children in the room to shut up, go sit down while some clear thinking adults clean up the mess. Too many interests are now so entrenched, benefitting by the status quo being maintained,and the crony pals they have in Congress ” wink wink…nod nod” assure them they have their backs.

    Once again tax shifting is what always happens…real tax reform, real tax cuts are a pipe dream, particularly in a nation buried in 20 trillion of debt.

    While we are on the subject maybe Sandy can ask Del Peace about the question of Peace championing a tax break for wineries……and then opening one himself ?

    Bob Shannon King William

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    Tom White Says:

    Nothing is more conservative than a republican wanting to get their majority back. And nothing is more liberal than a republican WITH a majority.

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