Competing on Taxes: Even Turkey!

By July 24, 2007Economy

Speaking of taxes and global competition, John Hood at The Corner notes recent political developments in Turkey. Everybody’s seeking the edge.

Regarding Turkey, I was pleased to see the piece in today’s Wall Street Journal on the Turkish economy, which has been growing at more than 7 percent a year. The equity markets greeted the election results favorably, and then there is this hopeful rhetoric from the ruling party:

“Turkey has made huge progress in terms of macroeconomic reforms. Now, it’s time for microreforms, which will make the country more competitive,” Finance Minister Kemal Unakitan said in an interview before the election …”One of our priorities will be reducing the tax burden on employment,” he added. “In addition, we will make labor more flexible, by changing some of the laws that hinder employment.”

I know some state and federal lawmakers who might benefit from a junket — I mean, a fact-finding educational mission — to Ankara.

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