A left-wing group recently put out a report criticizing low-tax jurisdictions for attracting capital and investment from high-tax nations.
Since I’m a big defender of tax havens and tax competition, I noted that the assumptions in the report were very dodgy. As the Wall Street Journal noted, “Dan Mitchell, a senior fellow at the libertarian Cato Institute, compared the report’s findings to some estimates of climate change.”
And here’s some of what CNBC reported.
The problem, says Dan Mitchell, a senior fellow at the Cato Institute, is that the estimate is based on a series of assumptions aimed at making people “believe that much of cross-border investing is all about tax evasion and that all this money should go to government, and that this would be a good thing.” The real problem facing governments, Mitchell says, is spending not revenues.
I also was part of this CNN report.
- Topics:
- CNN
- Demagoguery
