The Swiss Model of Excellence

This morning, I opened up FT.com and received a major shock after seeing the headline: "Obama looks to target overseas tax breaks." I immediately thought I was going to be affected, but thankfully, it's not the case. I'm under enough financial stress already and I really don't like what Obama's doing to the tax system - especially not the part about tax cuts expiring for the top income brackets. I'm far from being affected, but here's why we should all care.

Higher income should be what everyone aspires to. And if we allow the government to increase taxes and penalise people for aspiring to a better lifestyle today, what are they going to do next? Are people living in poverty because others are living in luxury? No! Moreover, if we cut the inefficiencies in the US government today, taxes wouldn't even have to be so high. Recall the article I posted here some while back citing the massive salary boosts US government employees received throughout the financial crisis. If Dubbaya did anything good for the US, it was lowering taxes. And that's possibly the only good thing he's done. Lower taxes are why I'm semi-Republican. Everyone should be Republican when it comes to taxes! In a socialist regime, the only direction taxes could head is higher.

But look at what the Swiss are doing. Apparently, the Swiss healthcare system is amongst the best in the world and their federal corporate tax rates are only 8.5%. I have to say the Swiss should be lauded as models of excellence - at least when it comes to taxes. But that's almost a given since their watches are so fantastic.