Rates of start-up creation here are among the highest in the developed world, and Norway has more entrepreneurs per capita than the, according to the latest report by the Global Entrepreneurship Monitor, a -based research consortium. A 2010 study released by the reported a similar result: Although America remains near the top of the world in terms of entrepreneurial aspirations — that is, the percentage of people who want to start new things—in terms of actual start-up activity, our country has fallen behind not just Norway but also , , and .
A well-written counter-argument to the notion that job creation and entrepreneurship and tax rates are strongly correlated.
My only beef is the author’s broad usage of the term “European socialism” since the type of mixed economy found in the Nordic countries is quite different from the ones found in the Mediterranean countries.
Another interesting tidbit:
Although personal taxes on entrepreneurs are high, the tax rate on corporate profits is low—28 percent, compared with an average of about 40 percent in combined federal and state taxes in the U.S. … [a] company makes more money, after taxes, on items sold in Norway than it does on those sold in itsshop.
- peckinpah posted this