A study by the Canadian Center for Policy Alternatives released its report yesterday entitled, the Social Benefits and Economic Costs of Taxation: A Comparison of High- and Low-Tax Countries by Neil Brooks and Thaddeus Hwong. The report studies high-tax Nordic countries and low-tax Anglo-America countries on 50 social and economic measures and finds the high-tax Nordic countries score better in 42 categories. In short, tax cuts are disastrous for the well-being of a nation’s citizen.
The report alleges that Canada’s fairly low tax rate will cause Canada to fall behind a number of OECD nations in a wide range of social and economic areas. Countries like Finland with high tax rates are actually preforming quite well economically, with a steady share of the research and development market. Smart and savy.