What Can We Learn from Denmark?

August 31, 2017 By E.J. Smith - Your Survival Guy

Under the heading of “even a blind squirrel finds a nut,” Denmark targets deep tax cuts. What are we waiting for?

Peter Levring writes at Bloomberg:

By encouraging more people to work, the government expects to generate more revenue via sources such as value-added tax, Jensen said during a press conference in Copenhagen.

“There’s still room for growth in public spending, and room to prioritize, as this government does, welfare for Danes,” Jensen said. He said critics of the government’s plan were guilty of a “simplification” of economic principles. “This is not a zero-sum game” between taxes and welfare, he said.

Denmark boasts the planet’s highest tax burden relative to gross domestic product (the OECD estimates the figure was about 47 percent in 2015, the fattest ratio in the rich world). That revenue is used by the state to make sure Danes have universal access to free education, hospitals, childcare and elderly care.

E.J. Smith - Your Survival Guy

E.J. Smith is Founder of YourSurvivalGuy.com, Managing Director at Richard C. Young & Co., Ltd., a Managing Editor of Richardcyoung.com, and Editor-in-Chief of Youngresearch.com. His focus at all times is on preparing clients and readers for “Times Like These.” E.J. graduated from Babson College in Wellesley, Massachusetts, with a B.S. in finance and investments. In 1995, E.J. began his investment career at Fidelity Investments in Boston before joining Richard C. Young & Co., Ltd. in 1998. E.J. has trained at Sig Sauer Academy in Epping, NH. His first drum set was a 5-piece Slingerland with Zildjians. He grew-up worshiping Neil Peart (RIP) of the band Rush, and loves the song Tom Sawyer—the name of his family’s boat, a Grady-White Canyon 306. He grew up in Mattapoisett, MA, an idyllic small town on the water near Cape Cod. He spends time in Newport, RI and Bartlett, NH—both as far away from Wall Street as one could mentally get. The Newport office is on a quiet, tree lined street not far from the harbor and the log cabin in Bartlett, NH, the “Live Free or Die” state, sits on the edge of the White Mountain National Forest. He enjoys spending time in Key West (RIP JB) and Paris. Please get in touch with E.J. at ejsmith@yoursurvivalguy.com To sign up for my free monthly Survive & Thrive letter, click here.

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