Professor J. Garello speaking about his last book :
Recent study of the European Commission on taxation trends confirmed the position of Slovakia among the countries with the lowest tax burden in European Union. With total 29,4 % share on GDP, Slovak government imposed the second lowest taxes upon its economy in 2007. Share of direct taxes on GDP has been the lowest in the whole union.
The Fitch rating agency on Tuesday downgraded Greece’s long-term debt ratings as well as those on four of the country’s largest banks, describing prospects for Greek public finances as negative. Greece is now exposed to the risk of losing the small amount of credibility it still has in front of its creditors. The concerns are growing about its ability to pay its huge public debt, estimated to 110% of GDP and budget deficit above 12.7% of GDP. A look at the evolution of the external debt of Greece is illustrating the concern of credit rating agencies and international financial markets:
While the world is moved deeply by the Copenhagen climate summit, several voices are disturbing the surrounding enthusiasm. The so-called climate skeptics have seen their cause promoted by the recent Climategate affair, which revealed that eminent climate scientists subverted the results of their research, and some other key data for the global warming theory seem to have been fiddled.
The Heritage Foundation launches a campaign against the dreaded estate tax (also known as the “death tax”) in the US. In the coming weeks, Congress will once again take up debate on the death tax, which expires for one year, beginning on January 1, 2010, before coming back in full force on January 1, 2011. Some in Congress are eager to prevent the death tax from expiring for even one year. Those that don’t want the tax to die will likely argue for a one-year extension of the tax at its current rate and exemption levels.
What is in danger today – the climate or our liberty? The Czech President Vaclav Klaus makes the case that policies being proposed to address global warming are not justified by current science and are, in fact, a dangerous threat to freedom and prosperity around the world. IREF is editing the French version of the book in cooperation with Contribuables Associes.
Twenty four countries in the world have already adopted the flat tax. The taxe rate is going from 10% (in Bulgaria, Albania, Kazachstan and Mongolia) to 25% (in Litva and Jamaica). One of IREF’s main proposals is to introduce a 15% flat tax in France.
This study is realized by Ludger Schuknecht, economist at the European Central Bank. He is making the case for the return to healthy and sustainable public finances. In that perspective, the authors identifies four central issues.
First, deficits and debts must be returned to a sustainable path. In many countries, deficits will need to fall by one percentage point of GDP per year and in some by much more. Even then, a balanced budget would only be reached in about 2015 for the average of the euro area and even later in the U.K.
Super Size It? A Rationale Against Feeding the Leviathan – Julia Toser
The threat of fiscal harmonization – Massimiliano Trovato
“An Economic Rationale for the Net Wealth Tax – Does It Exist?”- Jan Schnellenbach
“Taxonomy of Wealth Taxes” – Philipp Bagus
“Because that’s where the money is!” – Daniel Pellerin
