Global Tax Revolution: The Rise of Tax Competition and the Battle to Defend It

by Chris Edwards, Daniel J. Mitchell

This book explores one of the most dynamic and exciting aspects of globalization international tax competition. With rising mobility and soaring capital flows, individuals and businesses are gaining freedom to work and invest in nations with lower tax rates. That freedom is pressuring governments to cut taxes on income, investment, and wealth. In Global Tax Revolution, Chris Edwards and Daniel Mitchell chronicle tax reforms around the world in recent decades. They describe the dramatic business tax cuts of Ireland, the flight of successful people from high-tax France, and the introduction of simple flat taxes in more than two dozen nations. Like other aspects of globalization, tax competition is generating intense political opposition. Numerous governments and international organizations are fighting to restrict tax cuts. Edwards and Mitchell challenge those efforts, arguing that tax competition is helping to advance prosperity, expand human rights, and rein in bloated governments. The authors argue that the U.S. economy can be revitalized by embracing competition and overhauling the federal tax code. They discuss how current tax rules suppress wages and investment and describe the tax changes needed for workers and businesses to succeed in the fast-paced global economy. Rather than idly complaining about jobs and capital moving offshore, this book argues that policymakers need to embrace major tax reforms to ensure rising standards of living for Americans in the years ahead.

Genres: Economics

250 pages, Hardcover

First published August 27, 2008

About the author

Chris made his advertising debut in 1993 as a copywriter at Arnold Worldwide, a high profile ad agency in Boston. There he used what he learned working in advertising along with his ever-present sense of humor to rebrand himself and orchestrate what was quite possibly the most widely accepted and embraced gender transition of its kind–at a time when the word “transgender” didn’t exist.

He eventually became more known for his creative talent than his transition. He was the first to use YouTube content in a TV spot with two guys rapping about McNuggets and is responsible for the earworm, Gimme back that Filet-O-Fish, gimme that fiiiiish. He was also part of the creative team on Truth, which was recently ranked one of the Top 15 Ad Campaigns of the 21st Century.

After building an award-winning career spanning nearly twenty years, Chris left his Arnold post as EVP, Group Creative Director to write his memoir, BALLS. Since then he’s become a sought-after speaker, inspiring audiences with his courageous story and compelling message that we actually have the power to control how others define us.

Reviews

[Landon Hirz · Rating 5 out of 5]

The book’s statistics are outdated, but it is still a very educational read. It helps you understand how taxes affect the economy and what factors you should consider when evaluating politicians’ regulatory choices.

[Nick · Rating 5 out of 5]

This was an excellent book and very timely considering today's current events. I fear the backlash against wealth that is occurring in the US in 2009 and the possible ramifications of a policy of expropriating over 50% of the income/profit from the so-called “rich.” Not only does such a policy create a dangerous imbalance on how we fund our government, with much of the government funded by the top 5%, but it also drives away the highly skilled and wealthy entrepreneurs that we want investing within the country. There are many emerging markets and countries in the world today with highly competitive tax structures that are competing for skilled labor and business expansion. The US was once a leader when it came to developing competitive tax structures but is currently falling very far behind the rest of the world. With increasing globalization and the ability for entrepreneurs and established multi-national businesses to set up shop virtually anywhere in the world, the US may find itself lagging behind the rest of the world in economic terms. I think this should be a must read for all public officials.

[Randy · Rating 5 out of 5]

A great read for anyone who has an opinion on American taxes.

We tend to limit discussion of taxes to who will reap the savings if tax rates are cut... That's a fine discussion to have, but to overlook the international competitive aspects of tax policy is short sighted.

If our single goal is to equalize wealth for all Americans, or to provide widespread government services to all, we overlook the most serious downside of that goal: the swift flight of tax refugees to other countries, the drastic reduction of inflows from other countries, and the inevitable decline of the American economy.

[Jon]

This sounds like it will be a great read. Even thought the worlds governments are becoming more tyranical and burdensome on the people it's the competition between the governments that will hopefully find balance in the governments increasing personal interventionisms.