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Global Tax Revolution How the U.S. is Missing Out on Tax Competition — and Why Europe is Trying to Kill It Over the last 2 decades, governments around the world have reduced, eliminated and simplified individual and corporate tax rates to lure the most productive people and companies. 27 countries now have a flat tax. Ireland dropped its corporate tax rate from 50% to 12.5% — and went from an economic basketcase to the 2nd richest EU nation. Sweden abolished its wealth tax in 2007 to lure back $80 billion wealthy Swedes had moved abroad. And these are just a few examples. But instead of leading this revolution, the U.S. is heading in the opposite direction toward higher taxes. And the European Union and OECD are proposing "tax cartels" to kill tax competition and "harmonize" taxes into one global rate. Hear what's happening now, and the economic impact it will have if we don't change course. Our Guest: Daniel Mitchell Mitchell is a Senior Fellow at the Cato Institute and co-author of Global Tax Revolution: The Rise of Tax Competition and the Battle to Defend It. Watch videos of Dan Mitchell discussing tax policy Listen Now