Tuesday, 9 July 2002

Taxes on business

Yesterday, I drew attention to the theory that taxes on business are more harmful than taxes on wages. A letter in today's Scotsman from new labour supporter Judith Begg shows no such understanding:
Corporation tax cannot be treated in isolation. It is the overall tax burden, rather than any specific element that is likely to have an impact on the health of our economy..

Well, I certainly think that the overall tax burden is far too high, but I also concur with Professor Reismann's view on the particular harm caused by taxes on business.