Developed nations have a problem. GDP isn’t growing the way it used to. Job prospects have diminished for the young and middle class. That means government tax revenues aren’t growing either. But the public still maintains a high level of expectations for government programs and services. Nations are struggling to find additional sources of revenues to bridge this fiscal gap. They know that debt only defers the tax burden — it doesn’t eliminate it. How can governments raise more money when the overall economy is struggling?
Does there have to be a jurisdiction?
Next time, we’ll address these two issues and whether the game can be changed — for good.
Continue reading with part two.
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