Taxes Are Too High - By The Numbers
by Vince Daliessio
Bruce Bartlett has an excellent article today;
http://www.townhall.com/columnists/brucebartlett/bb20040713.shtml
"In various surveys, the tax burden has always been identified as the main cause for the growth of the shadow economy," according to Schneider and Enste. Their analysis found that a 10 percentage point increase in the tax burden would cause the underground economy to rise by 3 percent of GDP. A Federal Reserve study found an even higher response, with an increase in the tax rate from 9.3 percent to 10 percent leading to a 1.5 percent rise in underground output. "
Are you listening, congress?