Daniel J. Mitchell

If you don’t want double taxation, the capital gains tax rate in Jersey is zero. That’s a lot better than the United Kingdom (though the rate there is now “only” 28 percent.

If you don’t want the government grabbing a big chunk of your income with a value-added tax, then you’re much better off with Jersey’s 5 percent rate rather than the 20 percent rate in the United Kingdom (the museum’s info is out-of-date).

Anyhow, you get the idea. Here’s a close-up photo of that part of the display.

There’s no death tax in Jersey, which is a very important consideration when successful and productive people decide where to conduct economic activity. The United Kingdom, by contrast, has one of the most onerous death tax regimes in the world.

In other words, the people of Jersey have made a very intelligent decision to avoid class-warfare tax policy.

Are you surprised to learn, therefore, that they are richer, on average, than folks in the USA?

Daniel J. Mitchell

Daniel J. Mitchell is a top expert on tax reform and supply-side tax policy at the Cato Institute.

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