News from Forbes. Prime Minister Viktor Orbán [of Hungary] has unveiled an economic program to get the country moving again. Foremost will be the introduction of a 16% flat tax on personal income, starting next year. Hungary's labor taxes have been among the highest in Europe--which is really saying something. The corporate tax for small and medium-size firms will be slashed from 19% to 10%, and other levies on small businesses will be eliminated. Charitable donations will be tax free. Public spending will be cut, as will the salaries of most bureaucrats.
My view. Why not. Everything else sems to be failing.
George Dagnino, PhD
Editor, The Peter Dag Portfolio. Since 1977
Ranked Top Market Timer in 2009 and 2010 by Timer Digest
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