Milton Friedman's Foundation ads

Last night, as I watched the news, most ad time was occupied by some “eliminate taxes” propaganda what identified itself as the Milton Friedman Foundation.

It advocated, for example, that Taiwan lower its taxes to Hong Kong levels. Where do you want the economy to be, here (high up) or here (bottom-cue in tragic music).

My reaction was: What the heck?! More scaremongers?! What is this?!

Has anyone else seen these ads?

[quote=“Icon”]Last night, as I watched the news, most ad time was occupied by some “eliminate taxes” propaganda what identified itself as the Milton Friedman Foundation.

It advocated, for example, that Taiwan lower its taxes to Hong Kong levels. Where do you want the economy to be, here (high up) or here (bottom-cue in tragic music).

My reaction was: What the heck?! More scaremongers?! What is this?!

Has anyone else seen these ads?[/quote]

Raising taxes in Taiwan would be stupid. The country is already losing it’s competitive advantage in many areas; it’s strength lies in innovation. And raising corporate taxes, imposing a capital gains tax, or doing anything redistributive in nature will only stifle innovation. Now is definitely not the time to raise taxes. In Canada right now, Dion’s liberals want to raise taxes during a period of economic uncertaintly. That’s pretty risky IMHO.

Found my answer:

[quote]Vice President Siew calls for competitive tax rates

The China Post news staff
Wednesday, August 20, 2008

TAIPEI, Taiwan – Vice President Vincent Siew yesterday called for more competitive tax rates in Tai
wan, citing lower taxes as the key to economic success of Taiwan’s various regional partners such as Hong Kong and Singapore.
Siew made the statement in a conference yesterday held by the Taiwan Academy of Banking and Finance and the Securities and Futures Institute. The conference discussed ways to turn Taiwan into an Asia-Pacific financial center.

Siew’s statement came after Premier Liu Chao-shiuan emphasized the importance of making Taiwan’s tax rates more competitive internationally, saying lower rates are a critical element in Taiwan’s effort to become a regional financial hub.

Liu’s remarks were cited in Taiwan’s major financial dailies yesterday.

Echoing Liu’s comments, Siew said Taiwan’s business tax rate is 25 percent, compared to Hong Kong’s 16.5 percent. Singapore’s rate varies year after year and is 18 percent this year, he said.

Taiwan’s income tax rate, meanwhile, is up to 40 percent, compared to 17 percent for Hong Kong and 20 percent for Singapore, Siew said.

[/quote]
http://www.chinapost.com.tw/taiwan/%20business/2008/08/20/170926/Vice-President.htm

I agree with being more lenient on the inheritance tax. And removing inherited debts forever!

Story has caught up with local dailies:

http://www.taipeitimes.com/News/taiwan/archives/2008/08/26/2003421456

[quote=“Icon”]Last night, as I watched the news, most ad time was occupied by some “eliminate taxes” propaganda what identified itself as the Milton Friedman Foundation.

It advocated, for example, that Taiwan lower its taxes to Hong Kong levels. Where do you want the economy to be, here (high up) or here (bottom-cue in tragic music).

My reaction was: What the heck?! More scaremongers?! What is this?!

Has anyone else seen these ads?[/quote]

Actually, wasn’t it the “Milton Friedman Foundation for Educational Choice”?

Wondering what lower business taxes in Taiwan have to do with educational choice?

Pardon me…but, IMO, this guy is a dipsh!t. A classic example is the state of California. Taxes have gone through the roof and businesses have fled the state. Lost employment and lost revenue.

I pity the people who follow his rather sketchy economic advice.

As to this “Milton Friedman …”, it sounds like some person just looked up some well-known economists name and appropriated it.

I think this group, The Friedman Foundation might be interested in some chabuduo yahoo here on the island using their name to gain some kind of legitimacy.

Results for Google search for “Milton Friedman Foundation”
google.com/search?hl=en&q=Mi … art=0&sa=N