A couple of posts have some insights for us in NC.
We hosted economist Arthur Laffer earlier this year for a discussion of how lower income taxes, or no income taxes, can boost economies — and even bring more money in to government.
Add Ireland to the places where high taxes have the effect of lowering how much government brings in to its own coffers — this time with a Bloombergian high tax on tobacco products results in cigarette smuggling, and less tax revenue.
On the flip side, the low corporate taxes have helped the Irish economy. (Though, as Reason points out, they can’t help much if a government makes other blunders.)
Meanwhile, there’s been wailing and gnashing of teeth about Gov. Pat McCrory’s NC budget. One headline said it was a budget only an accountant could love. Well, shouldn’t a budget inspire the admiration of accountants?
As Reason Online reminds us, politicians like to use scare tactics to fight budget cuts, any budget cuts.