(PatriotWise.com)- Remember in 2008 when Ron Paul was called crazy for advocating for getting rid of income tax completely? Well, the European nation of Hungary is about to prove that it’s not that crazy an idea after all.
Income tax for people under the age of 25 has been completely scrapped by the conservative government in an effort to aid national economic recovery, and to discourage people from leaving the country. The plan is also designed to help young people start families at a younger age.
The Hungarian parliament voted in the new measures with a massive majority, thanks to the support of Prime Minister Viktor Orban and his party Fidesz. It will come into effect from 2022.
Katalin Novak, Hungary’s minister for families, said that the Hungarian government “is the government of tax reductions” – which is funny, given how Orban and Fidesz are regularly labeled “fascist” by the European (and American!) left.
Novak told Breitbart that the country has the lowest corporate tax rate in Europe, at just 9%.
Remember that President Joe Biden is planning on increasing corporate tax in America to almost 30%. And he thinks those companies won’t start looking to countries like Hungary instead?
Novak also said that “thanks to the family tax system the more children parents have the less personal income tax they need to pay” and that, since January of last year, “women with at least four children are exempt from paying forever.”
Doesn’t that sound like a fantastic deal?
The National Assembly has just adopted with an overwhelming majority the personal income tax exemption for young adults under 25. It will help young people in their transition to adulthood from 2022. pic.twitter.com/jRYFsYDh48
— Katalin Novák (@KatalinNovakMP) April 28, 2021
The plans to wipe out income tax is accompanied by a policy of granting €28,000 interest-free loans for young couples which do not need to be paid back until they have a third child – another measure designed to help young people start families and truly begin their lives.
Maybe America should be looking to central Europe for some solid conservative and libertarian ideas…