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.

Related posts:

1. The problem with the IAC is not its members’ deviation from the ideal, but its shunning politics
2. Do Indians have lazy thinking habits (more System 1, less System 2)?
3. We are naturally good, but only up to a point. Thereafter we need a justice system
4. Chanakya’s well regulated system of prostitution in ancient India
5. Hayek’s brilliant depiction of the price system
6. Building a monetary and financial system for a free society
7. The magic of the price system
8. Individuals matter, but the SYSTEM is EVERYTHING
9. Review of Demsetz’s masterpiece: From Economic Man to Economic System
10. Does the Hindutva philosophy really oppose the caste system?