The Adam Smith Institute features in the Wall Street Journal Europe's article on tax competition and rates throughout Europe.
The clearest example of that came with the tax reductions enacted byMargaret Thatcher and Ronald Reagan in the 1980s. Those tax-rate cuts in the U.K. and U.S. forced other industrialized nations to cut their average top marginal rate for personal income to 42% today from more than 67% in 1980 simply to remain competitive, according to the Adam Smith Institute. Tax competition has driven down the average top rate for corporate income in the developed world to less than 27% today from 48% in 1980.
Read the full article here.