Gov. Sanford on Taxes and Competitiveness

By February 24, 2008Economy, Taxation

Governors showed up on this morning’s TV news-talk shows today, including four chief executives on Fox News Sunday: Republicans Mark Sanford of South Carolina and Tim Pawlenty of Minnesota, and Democrats Tim Kaine of Virginia and Jon Corzine of New Jersey.

Questioned by host Chris Wallace, Sanford hit directly on the issue that should dominate any economic discussions during this year’s national campaigns.

SANFORD: Well, I think a lot of folks — and there’s a lot of economic data to support this — don’t believe that you can tax your way to prosperity.

And so I think that come this fall, there’s going to be a tremendous debate between where Senator McCain will be and whoever the Democratic nominee might be on where we go next as a country.

And I think it goes straight to — you know, Thomas Friedman visited yesterday with the nation’s governors…

WALLACE: The New York Times columnist.

SANFORD: … and talked about competitiveness. And I think that if you really look at an agenda of competitiveness, one of its absolute foundations has to be being competitive with the rest of the world with regard to tax and spending policy.

The United States has the second highest corporate tax rate among developed nations. (OECD chart here, via the Tax Foundation.)

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