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"A comprehensive, collaborative elections resource."
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Barney Frank Endorses Regulatory Protectionism
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| Contributor | Jason |
| Last Edited | Jason Aug 26, 2009 03:57am |
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| Category | Proposed Legislation |
| Author | Daniel J. Mitchell |
| News Date | Thursday, August 6, 2009 08:20:00 PM UTC0:0 |
| Description | When a government increases the burden of taxes, spending, and/or regulation, this makes it more likely that productive resources – on the margin – will gravitate to jurisdictions with better economic policy. Crafty politicians understand that the freedom to cross borders is a threat to statist policies, which is why international bureaucracies dominated by high-tax nations, such as the Organization for Economic Cooperation and Development, are trying to undermine tax competition between nations by imposing fiscal protectionism. The same is true for regulation. The Chairman of a key House committee wants to impose regulatory protectionism to restrict the ability of Americans to patronize banks and other financial services companies based in jurisdictions with more laissez-faire policies. The Financial Times has the unsavory details: |
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