The evidence is unambiguous; governments cannot increase tax compliance and decrease the size of the underground economy by ever increasing and more onerous regulations.
It is no accident that those governments that allow their citizens a high degree of personal and financial liberty, including financial privacy, and spend taxpayer dollars wisely, honestly and competently, have much smaller underground sectors than corrupt and oppressive governments. Washington, take note.
Richard W. Rahn is a senior fellow at the Cato Institute and chairman of the Institute for Global Economic Growth.
'Your papers, please' must never be heard in America
By Susan Crabtree - The Washington Times
President Obama forgot to return the salute of a U.S. Marine while boarding Marine One Friday morning, then came back out to shake the Marine’s hand, according to a tweet by CBS News’ Mark Knoller.