Governments are taking advantage of this to carry out some long-overdue tax reform.
Ronald Reagan strengthened the dollar and implemented long overdue tax cuts, thus launching what Laffer et al pronounce triumphantly as the greatest period of wealth creation in world history.
Now we can work out exactly how much interest should have been payable if we want to, the HMRC interest rates charged on overdue tax and penalties are here.
The recovered papers related to demands for overdue tax by the Inland Revenue amounting to millions of pounds as well as records of inquiries by national newspaper journalists asking for information about shareholdings related to Polly Peck International.
Having Internet retailers collect sales tax is long overdue and still needs a vote by the U.S. House to become law.
FORBES: It's About Time Internet Retailers Collected Sales Tax
Regardless of whether Mr. Obama wins a second term or Mr. Romney wins a first, a comprehensive overhaul of the tax code is overdue.
But in Texas, it keeps creating new ones: the thousands of homeowners who fall prey to property-tax lenders that help them pay overdue property taxes.
FORBES: Predatory Property-Tax Lenders Are Targeted In Texas Effort
David Frost, director general of the British Chambers of Commerce, said it was "a necessary and long overdue response to the relentless chop and change of tax law".
Corporate tax reform is a good idea and long overdue.
FORBES: Corporate Tax Reform: The Winners And Losers Problem
Meanwhile, local accountants said the agency sent letters to some taxpayers offering them "amnesty" if they paid long-overdue taxes when in fact no taxes were owed that tax year.
An early pledge to enact a new and simpler tax code and to enable land to be easily bought, sold and thus developed is long overdue.
Over a five year period (2005 to 2010), a group of North Carolina hospitals (most of which are tax-exempt non-profits) filed more than 40, 000 lawsuits against patients with overdue bills.
House GOP leaders finally passed their long-overdue budget plan, but that does not mean the Republican faithful are any closer to delivering an election-year tax cut to the voters.
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