The question of the design of an ideal tax system has taxed the best of thinkers for centuries.
In my articles in Freedom First in November and December 2009 I had provided a framework for taxes on the basis of first principles of a free society social contract. Now, in an article entitled, "Tax from scratch" The Economist (13 November 2010) reports that Sir James Mirrlees, a Nobel-prize-winning founder of the modern theory of optimal taxation, has produced a report (here) that details optimal taxation.
From a quick review of the article (I haven't read the report yet) the report seems to be broadly taking views similar to the ones I have advocated.
On one thing I do differ from the report: in that I advocate the repeal of corporate tax, noting that it may be necessary to continue with it for some time because of sheer convenience. If a corporation tax is applied, then the principles recommended in this report could be used.
Either way, here's something that adds great value to the classical liberal policy debate.
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