Denmark to cut taxes.

This is a fairly big deal in Western governance. Denmark, the highest taxed country in Europe, is cutting taxes.

Denmark's government proposed a broad range of tax cuts that will hit all income groups, make it cheaper to save toward retirement and reduce levies on cars.

The center-right coalition of Prime Minister Lars Lokke Rasmussen wants to shrink the country's tax burden by 23 billion kroner ($3.7 billion), with the proposed measures to be phased in through 2025, according to a statement published on Tuesday. The administration also said it will "monitor" the corporate tax rate to ensure Denmark stays competitive with its trade partners.

"With this proposal, we're tackling a number of concrete challenges," Finance Minister Kristian Jensen said in the statement. "We're increasing the gains associated with working, we're making it more attractive to work more and we're ensuring that it's more worthwhile to save up toward retirement."

A fast-growing economy has pushed down the jobless rate to just 3.5 percent, prompting concern about potential labor shortages. An aging population is also weighing on the state's coffers.

Translation: They can't sustain the welfare state they have, because nobody is paying more in than they are taking out. They can't take in a bunch of Mooselimb immigrants, because the Danish people aren't having it. Finally there is a large swell of Baby Boomers retiring, and there's not enough money to keep paying their retirement plus everything else the Danish government currently pays for.

Solution, economic growth! Shazam! To do that, they have to cut taxes.

Everybody knows the solution to a crappy economy is tax cuts, even socialist freak jobs. They just find tax cuts inconvenient, because there's less money for them to steal and the voters complain about not getting their "free" stuff anymore.

The Phantom