Unfortunately for our neighbors to the north, famed comedian Bill Cosby won't be performing in their neck of the woods anytime soon... at least not until the country lowers its income tax rates. Responding to one Canadian fan's complaint, Cosby recently tweeted:
As the Center for Freedom and Prosperity notes, this small tax lesson is an important one for governments to learn:
It is a commonly held belief that famous performers do not take tax rates into account when deciding where to go on tour. Mr. Cosby proves this to be incorrect. Actors and comedians are normal people like anyone else, and as such are influenced by tax competition. All things equal, areas with lower tax rates will receive more business than those with higher tax rates. This tax competition helps restrain the size of government because politicians realize that jobs and investment can cross borders (or not cross in this case) if they get too greedy and impose high taxes.
Nothing like a good, old-fashioned lesson in American capitalism, courtesy Dr. Cliff Huxtable. Take that, Canada.