Some…suggestions…from continental leaders regarding Great Britain’s departure from the EU and the Exchequer’s suggestions of British corporate tax rate reductions, via The Wall Street Journal:
- German Finance Minister Wolfgang Schäuble: we can’t have a “race to the bottom, now can we?”
Why not, I ask—what are you so terrified might result from letting those who earned the money keep more of it?
- Pierre Moscovici, European Commissioner for Economic and Financial Affairs, Taxation and Customs: let’s not have any of this “exacerbated(?) fiscal competition between ourselves” nonsense.
I ask—why not? What’s so terrible about competition, which spurs innovation, holds down costs for the citizenry, limits government power. Oh, wait….
- French Finance Minister Michel Sapin: “Whether you’re in the union or yo’’re out, we should all adopt a friendly attitude.” Or else.
So I ask—when are you going to adopt that friendly attitude, M Sapin?
Cut the taxes, guys. If the continent want to run, screaming, away from the terror of competition, you’ll still have the Irish and the Icelanders with whom to play. And a whole, wide world outside the European continent and its special snowflakes.