LESSONS FROM BULGARIA
Can you name a country that has a flat 10 percent income tax on both personal and corporate income, and that is also running a budget surplus of 8 percent of gross domestic product (the equivalent of the United States running a budget surplus of more than $1 trillion)?
The surprising answer is Bulgaria, formerly one of Europe's most backward countries.
Most of the former communist countries of Eastern and Central Europe have instituted flat-rate income tax systems. Estonia was the first, and Bulgaria is one of the most recent, having only moved to the 10 percent flat rate at the beginning of this year.
It's one of several lessons America and the politicians she elects could learn from Bulgaria.