Indeed, a number of large OECD countries with relatively high effective tax rates are very successful in attracting FDI." Often cited U.S. examples of Reagan or Bush tax cuts to promote lower tax rates are nothing but myths. Interestingly, the two sectors that grew noticeably were housing and finance, which did not gain from the 2001 and 2003 tax cuts. Unfortunately, however, despite the 2012 tax cuts, the Kansas economy remained moribund, while the neighbouring states surged ahead. If tax cuts boost growth, tax increases should stall the economy.

Source: Huffington Post October 29, 2017 22:41 UTC