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Baghdad's Laffer Curve-The governing council comes out in favor of free trade and low taxes.
Wall St Journal ^ | 9-21-03

Posted on 09/22/2003 5:09:31 AM PDT by SJackson

Edited on 04/22/2004 11:49:57 PM PDT by Jim Robinson. [history]

Here's one more reason for Howard Dean and the French to deplore the liberation of Iraq: The new Iraqi Finance Minister, Kamel al-Gailani, has just announced that the country's highest marginal tax rates will be 15% -- on both individual and corporate income.


(Excerpt) Read more at online.wsj.com ...


TOPICS: Editorial; Foreign Affairs
KEYWORDS: flattax; freetrade; goodnews; governingcouncil; iraq; rebuildingiraq; taxes

1 posted on 09/22/2003 5:09:32 AM PDT by SJackson
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To: SJackson
This is horrible, there's no way the government will be able to "create jobs" with such a paltry "investment" from the people. They need to increase these tax rates FOR THE CHILDREN, and soon, lest there be too many rich people.
2 posted on 09/22/2003 5:19:45 AM PDT by wayoverontheright
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To: SJackson
When's the 3rd ID gonna spread some of that freedom around here?
3 posted on 09/22/2003 5:21:49 AM PDT by Trailerpark Badass
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To: SJackson
The opposing party, Al Shiite-Al Datiime, said they will oppose these policies as they are only there to prop up the upper 3% who make 5 figures a year.
4 posted on 09/22/2003 5:23:12 AM PDT by smith288 ("The key to our success will be your execution." -Scott Adams)
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To: SJackson
Hmm. First the Russians, now the Iraqis adopt a sensible tax code.
5 posted on 09/22/2003 5:23:41 AM PDT by Arkie2 (It's a literary fact that the number of words written will grow exponentially to fill the space avai)
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To: SJackson
Good news article. It makes "cents" to me. Thanks for posting it.
6 posted on 09/22/2003 5:26:22 AM PDT by PGalt
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To: Arkie2
Hmm. First the Russians, now the Iraqis adopt a sensible tax code.

Give them about 250 yrs, they will come around.

7 posted on 09/22/2003 5:26:40 AM PDT by smith288 ("The key to our success will be your execution." -Scott Adams)
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To: SJackson; MJY1288; Calpernia; Grampa Dave; anniegetyourgun; Coop; Ernest_at_the_Beach; ...
Great post, SJackson. Amb. Bremer was right.

"In terms of what kind of economic system they wish to establish, as you point out, the Ba'athist Party was a socialist party. I think it's very hard to imagine any strong support in this country for a return to that economic system, which has left the country really flat on its back, and which does not really provide a model for getting the kind of vibrant private sector which I think most Iraqis now realize is a sine qua non for a stable economy and stable economic growth. So if they choose socialism, that will be their business. My guess is that's not going to happen." ~ Amb. Paul Bremer  - Briefing on Coalition Post-war Reconstruction and Stabilization Efforts, 6/12.

Here's one more reason for Howard Dean and the French to deplore the liberation of Iraq: The new Iraqi Finance Minister, Kamel al-Gailani, has just announced that the country's highest marginal tax rates will be 15% -- on both individual and corporate income.

If you want on or off my PRO-coalition ping list, please Freepmail me. Warning: it is a high volume ping list on good days. (Most days are good days). All links are added to my homepage, link above.

8 posted on 09/22/2003 5:52:27 AM PDT by Ragtime Cowgirl ("I was taught to love America." ~ Freeper 'Bullish', '60s LA public school.)
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To: SJackson
They may be looking at what's happening in the Russian economy as an example of what low marginal tax rates can do in a get-up-off-the-floor bootstrap situation. It should be an example to everyone.
9 posted on 09/22/2003 5:59:07 AM PDT by katana
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To: Trailerpark Badass
You've got the idea, but there's something to be said for your methods!
10 posted on 09/22/2003 6:54:32 AM PDT by anniegetyourgun
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To: Ragtime Cowgirl; SJackson
You're right, RC, it's a great post/find by sjackson. Good for Iraq. Here's a new motto they can adopt (and pay me a handsome fee for it?):

Prosperity to the people!

11 posted on 09/22/2003 6:59:09 AM PDT by anniegetyourgun
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To: Ragtime Cowgirl
Bump!
12 posted on 09/22/2003 7:38:06 AM PDT by Alamo-Girl
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To: SJackson
No wonder the left opposes our reconstruction efforts there.
13 posted on 09/22/2003 9:42:34 AM PDT by My2Cents ("I'm the party pooper..." -- Arnold in "Kindergarten Cop.")
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To: SJackson
The new Iraqi Finance Minister, Kamel al-Gailani, has just announced that the country's highest marginal tax rates will be 15% -- on both individual and corporate income.


14 posted on 09/22/2003 9:56:54 AM PDT by paws_and_whiskers
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To: Ragtime Cowgirl
Bump!
15 posted on 09/22/2003 10:10:54 AM PDT by windchime
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To: Ragtime Cowgirl
The governing council sounds like they're good conservatives. :)
16 posted on 09/22/2003 11:18:34 AM PDT by blackie
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To: SJackson
We hope the government now finds a way to turn over some oil revenue to individual Iraqis.

George Schultz had the best suggestion. Every Iraqi citizen gets an equal share of all oil profits. Let them spend or invest it as they choose.

17 posted on 09/22/2003 11:24:37 AM PDT by Ditto ( No trees were killed in sending this message, but billions of electrons were inconvenienced.)
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To: Ragtime Cowgirl; SJackson
Iraq wants a tax regime with "low tax rates that will help create strong incentives for future investment, employment, and limit the size of the public sector

Senator Clinton reacts.

18 posted on 09/22/2003 8:25:13 PM PDT by PhilDragoo (Hitlery: das Butch von Buchenvald)
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To: katana
I am posting two good refences to see the effects of fiscal policies. If the Laffer curve is studied in the basics Economy courses, there would be more people asking for flat-tax and for the reduction of taxes.

http://www.gmu.edu/jbc/fest/files/Monissen.htm
http://www.investopedia.com/terms/l/laffercurve.asp


19 posted on 11/28/2003 3:07:19 PM PST by Spartano
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