Lessons from Monaco on the Benefits of Zero Income Tax
June 2, 2016
The top rate was only 7 percent when Woodrow Wilson approved the income tax, and the tax only applied to the very richest Americans. But as is so often the case, taxes on the wealthy are a precursor to taxes on the rest of us.
But it doesn’t have to be this way. I’ve been at a conference in Monaco for the past few days and I’ve seen firsthand how a nation with zero income tax can be a prosperous Mecca (and I’ve also noticed that the Princess of the Levant is far more likely to accompany me on a trip when she has an opportunity…
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