An interesting pro-low taxation example in real life.
All right, so it turns out that there is a very tiny place which would follow the ideals of many of the very traditional conservatives where taxation is concerned.
Specifically, it is an island called Jersey that's part of the United Kingdom. Thanks to some promises by the monarchy several hundred years ago, they are not a part of the European Union despite being part of Great Britain.
In an effort to bring wealthier people in, they have no VAT(Value Added tax or sales tax for Americans) and income tax is capped at a flat 20% of worldwide income for the first £650, 000 and drops to 1% for anything above that.
This tiny island is now a very popular tourist destination, has a GDP of about $56, 000 per capita and their crime is... Well - Their newest crime busting policy was a road safety initiative which dropped crime on the island by 12%, or about 500 cases.
They have about 2200 internationally ranked chess masters, compared to the 2800 that the US has. With a population of just 92000, Jersey may be one of the smartest places in the world.
Their initiative of lower taxation has brought in huge amounts of taxable revenue to the country, gentrified the area and improved conditions. The increased taxation from this gentrification even allows the government to offer all the services the rest of the UK has.
The counter-argument will be that it's a small area, that you can't gentrify everywhere without pricing out the lower class entirely and that economic imbalances like this result in the wealthier relocating to areas like this naturally.
But I thought you'd be interested. If I ever have £40 million, I'm relocating to Jersey, Channel Islands. There's even a whole ward there in this tiny place.
Originally Posted by dorave
I. Am. A. Socialist.