I’m in Jersey, where I gave a speech last night.
But not New Jersey, the state where you shouldn’t die. That’s the state that many people have been fleeing because they don’t like paying confiscatory taxes to finance bureaucrats who make as much as $320,000 per year.
Instead, I’m in the Bailiwick of Jersey, which is a UK dependent territory off the coast of France. Jersey is a so-called tax haven, which I applaud because it helps encourage better tax policy in less enlightened parts of the globe.
Because I’m such a cultured and sophisticated guy, today I used some of my free time to visit the Jersey Museum. I now know lots of useless trivia about how a tiny island 15 miles from France wound up as an English territory.
But I also found something very interesting in the section on the economic history of Jersey. The museum explicitly recognizes the role of low taxation in promoting a prosperous society.
My blackberry camera isn’t that good and I’m probably a crummy photographer, so this image is very hard to read, but the display openly boasts that Jersey’s tax rates are much less onerous than those found in the United Kingdom.
If you want a simple and fair flat tax, Jersey’s 20 percent rate is not bad. And it’s definitely a lot better than the (now) 45 percent top rate in the United Kingdom
Today, at 11:20 AM PT: Get the Market Movements in Advance; Williams Edge Webinar for September 22nd, 2014 | John Ransom
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