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Center for Freedom and Prosperity Foundation For Immediate Release Coalition for Tax Competition Urges World Bank (Washington, DC, Friday, April 11, 2008) - The Center for Freedom and Prosperity Foundation, joined by 31 of the country's most influential free-market groups, has sent a letter urging the World Bank "to stand on the side of tax competition and fiscal sovereignty and not for bigger and more intrusive governments." The Coalition for Tax Competition letter is in response to an upcoming World Bank study on the relationship between so-called offshore financial centers and economic development (see fact sheet below on the study). Done properly, such a study shows that low-tax jurisdictions and tax competition promote global prosperity. Unfortunately, the people pushing this study have an anti-liberalization agenda and will pressure the World Bank into producing a report that unfairly attacks low-tax policies. Link to Coalition for Tax Competition letter: Link to Fact Sheet on the World Bank Study: "The World Bank's mission is to promote global prosperity. It should not be beholden to the anti-competitive, anti-free market agenda advanced by statist institutions," said Andrew F. Quinlan, President of the Center for Freedom and Prosperity Foundation. "The Coalition for Tax Competition is sending a strong message to the World Bank explaining why tax competition is important and why the Bank should reject the anti-free market agenda advocated by ideological groups like the Tax Justice Network and statist bureaucracies such as the OECD," Quinlan added. The letter from the Coalition for Tax Competition states, "efforts to stymie tax competition are contrary to sound economic policy. The major opponents of tax competition-such as the Tax Justice
Network and the OECD-espouse a harsh ideological approach, under which high-tax nations dictate global tax policy. Their central objective is increased statism at the expense of fiscal sovereignty. The World Bank
should actively oppose this objective, not facilitate it." Other comments from Coalition members: Grover Norquist, President, Americans for Tax Reform: "We hope that the World Bank considers the positive effects of tax competition and low-taxes on global prosperity and not the narrow view of statist policy makers from European-Welfare States" Duane Parde, President, National Taxpayers Union: "The World Bank should recognize that economic freedom is indispensable to the well-being of developing nations. It would be a tragic mistake for the World Bank, an institution that exists to fight poverty by fostering prosperity, to embrace statist policies that will thwart its mission." Note: CF&P Foundation sent an individual letter in to the World Bank on November 7, 2007
Representatives of the following 32 organizations signed the Coalition for Tax Competition letter: Center for Freedom and Prosperity Foundation, American Conservative Union, American Legislative Exchange Council, American Shareholders Association, Americans for Limited Government, Americans for Prosperity and AFP Foundation, Americans for Tax Reform, Capital Research Center, Club for Growth, Coalitions for America., Competitive Enterprise Institute, Council for Citizens Against Government Waste, Ethan Allen Institute, FreedomWorks, Hudson Institute, Institute for Research on the Economics of Taxation, Iowans for Tax Relief, Kansas Taxpayers Network, Leadership Institute, National Center for Public Policy Research, National Tax Limitation Committee, National Taxpayers Union, Oregon Taxpayers Union, Public Interest Institute, 60 Plus Association, Small Business & Entrepreneurship Council, Sovereign Society, Taxpayers League of Minnesota, Taxpayer's Protection Alliance, Tennessee Tax Revolt, United Californians for Tax Reform, and, West Virginians Against Government Waste.
Text of letter: April 2, 2008 Robert B. Zoellick Dear Mr. Zoellick, We are writing on behalf of the supporters of tax competition to express our concern about reports that the World Bank is being pressured into a campaign against low-tax policies. This would be a mistake for the institution. The World Bank should not be involved in a project that seeks to undermine tax competition. There is considerable evidence that tax competition - by encouraging lower tax rates and fundamental tax reform - has been good for the global economy. Indeed, the World Bank should embrace tax competition for its ability to stimulate pro-growth policies that encourage investment and innovation. Efforts to stymie tax competition are contrary to sound economic policy. The major opponents of tax competition-such as the Tax Justice Network and the OECD-espouse a harsh ideological approach, under which high-tax nations dictate global tax policy. Their central objective is increased statism at the expense of fiscal sovereignty. The World Bank should actively oppose this objective, not facilitate it. Please review the attached CF&P Fact Sheet for more information on our concerns. Thank you in advance for your time and we hope that the World Bank will stand on the side of tax competition and fiscal sovereignty and not for bigger and more intrusive governments. Sincerely, Andrew F. Quinlan ~ President, Center for Freedom and Prosperity Foundation
For additional comments: __________________________
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