Donald Trump would be wise to follow the lead of international tax expert Dan Mitchell of The Cato Institute.
To be blunt, I don’t think the World Bank should exist. We don’t need an international bureaucracy to promote economic development in poor nations. Particularly since the policies that we know will work – free markets and small government – oftentimes are hindered by intervention from multilateral institutions such as the World Bank.
For example, I’ve spent the past few days in Vanuatu, where I’ve been fighting against the adoption of an income tax.
Perhaps most laudable, the World Bank every year publishes Doing Business, an index that dispassionately measures the degree to which government policy imposes costs on those who create and operate companies. Indeed, it was just two months ago that I wrote about the most recent issue (mostly to grouse that America is falling in the rankings, so thanks Obama)
If it’s true that big government stimulates growth, why did the world’s richest nations become rich when government was very small and taxes were largely nonexistent?
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