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On libertarianism and liberalism

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What do liberals and libertarians have in common?  Bruce Bartlett, former economist at the US Treasury Dept offered this.  Here’s an extract which is relevant to Singapore:

Furthermore, economic freedom tends to be determined primarily by those measures for which quantifiable data are available. Since it is very easy to look up the top marginal income tax rate or taxes as a share of GDP, these measures tend to have overwhelming influence on the ratings. As a result, countries like Denmark, which are very free every way except in terms of taxes, end up being penalized. Conversely, authoritarian states like Singapore don’t suffer for it because they have low taxes.

An unstated implication of these rankings is that freedom is the highest good–the thing that brings the greatest happiness to the most people. Since low taxes are taken as the sine qua nonof a free society, one would therefore expect the happiest countries to be the lowest-taxed countries. In fact, this is not the case. Based on a recent study by the Organization for Economic Cooperation and Development, most of the world’s happiest countries are high-tax countries.

Taxes and Happiness, 2006

Country Happiness Index Taxes/GDP

Denmark 8.0 / 49.1

Finland 7.6 / 43.0

Netherlands 7.6 / 39.3

Norway 7.5 / 43.9

Switzerland 7.5 / 29.6

New Zealand 7.4 / 36.7

Australia 7.4 / 30.6

Canada 7.4 / 33.3

Belgium 7.4 / 44.5

Sweden 7.4 / 49.1

United States 7.3 / 28.0

Written by defennder

June 22, 2009 at 1:54 PM

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