This book explores one of the most dynamic and exciting aspects of
globalization international tax competition. With rising mobility and
soaring capital flows, individuals and businesses are gaining freedom to
work and invest in nations with lower tax rates. That freedom is
pressuring governments to cut taxes on income, investment, and wealth.
In Global Tax Revolution, Chris Edwards and Daniel Mitchell chronicle
tax reforms around the world in recent decades. They describe the
dramatic business tax cuts of Ireland, the flight of successful people
from high-tax France, and the introduction of simple flat taxes in more
than two dozen nations. Like other aspects of globalization, tax
competition is generating intense political opposition. Numerous
governments and international organizations are fighting to restrict tax
cuts. Edwards and Mitchell challenge those efforts, arguing that tax
competition is helping to advance prosperity, expand human rights, and
rein in bloated governments. The authors argue that the U.S. economy can
be revitalized by embracing competition and overhauling the federal tax
code. They discuss how current tax rules suppress wages and investment
and describe the tax changes needed for workers and businesses to
succeed in the fast-paced global economy. Rather than idly complaining
about jobs and capital moving offshore, this book argues that
policymakers need to embrace major tax reforms to ensure rising
standards of living for Americans in the years ahead.
