30 October 2015 | Letter from the Chairman, No. 14
30 October 2015 | Letter from the Chairman, No. 14
On 2-3 May 2015 – The Australian Libertarian Society and the Australian Taxpayers’ Alliance worked together to throw their 3rd annual conference in honor of the late, great Nobel-winning economist, Milton Friedman. This is a great idea to have an event around and to educate people on free market economics.
As Congress faces a looming deadline on funding for the federal government, some legislators are calling for a repeal of the spending caps imposed under the Budget Control Act of 2011.
Undoing those restrictions on discretionary spending would almost certainly result in larger deficits and deeper debt. For some perspective, the table below compares actual federal spending since 2011 alongside the levels proposed by the White House just before the caps were put in place. (Note: dollar amounts are in billions and figures for the President’s budget reflect CBO’s March 2011 analysis.)
|Year||Total Outlays||President’s March 2011 Budget||Savings|
That means that federal spending was reduced by over $1.3 trillion compared to what the Administration had proposed just before the caps were enacted.
To put it another way, spending was reduced by $3,256 per person and $8,980 per household. Federal deficits have been lower than they’d otherwise be by over $703 billion, roughly $2,206 per person and $6,083 per household.
That not only represents a very significant spending cut, but one that has been sustained over time.Read more
50 years ago Singapore was a fishing village and today one of the 10 richest countries of the world. Every 10th homeowner in Singapore is a millionaire.
How did this happen?
The success is largely credited to one man, the founder of Singapore, Mr Lee Hsien Loong who died this year.
His major programs were two:
– to create economic growth,
– to eradicate corruption; to get rid of this cancer that destroys economic grown.
Tax fighters all over the world should copy Singapore and intensify the fight against corruption!
Footnote about wealth and taxes for Singapore and other countries:
Singapore´s GDP per person is USD 65.000 per person, in Hong Kong and USA 53.000, Switzerland 46.400, Sweden 41.000, Germany 40.000, UK 37.300, Russia 17.000, China 10.000, Georgia 6.000.
The overall tax burden in Singapore and Hong Kong is only 14% compared with China 19%, USA 24%, Georgia 25%, Switzerland 28%, Russia 29%, UK 35%, Germany 38%, Sweden 43%, France and Finland 44%, France and Belgium 45% and highest in Denmark with 48%.
For many years Sweden had the highest taxes in the world. I dare say Swedish Taxpayers Association has done a good job.Today Sweden has no property tax, no gift tax, no inheritance – death – tax, no wealth tax and practically no tax on capital gains and dividends. Income taxes have been decreased, first down to a maximum of 50% (the Half Left-campaign) and now increased to a maximum of 57%.
2015 Index of Economic Freedom. By Heritage Foundation and The Wall Street Journal.
– Bjorn Tarras-Wahlberg Founder, former Secretary General World Taxpayers Associations Founder and Chairman Asia-Pacific Taxpayers UnionRead more
Former President of the Swedish Taxpayers Association and founder of the World Taxpayers Associations,
Bjorn Tarras-Wahlberg’s piece on the amazing transformation of Georgia’s tax system for the Swedish Daily.
This collaboration between the US group, Taxpayers Protection Alliance, and the Australian Taxpayers’ Alliance, is a perfect example of how the WTA can be helpful to global taxpayer protection movement. Building relationships, sharing ideas, and helping one another fight against global threats to the taxpayer.
The Taxpayers Protection Alliance (TPA) has been sounding the alarm on various attempts by governments around the globe to institute plain packaging policies for tobacco. Australia was the first country to pass legislation mandating plain packaging of tobacco and after just a few years, the impact has been exactly what TPA warned they would be: greater tobacco consumption, increased illicit trade, and loss of revenue. Last week, the following submission was made to the Australian Parliament for public comments regarding the plain packaging laws. You can also download the full submission by clicking here.
I wanted to thank Tim Andrews for alerting us to this opportunity. In my opinion, this is exactly the type pf coordination groups from around the world need to do more of.
If you submitted comments, please feel free to share with the group.
Taxpayers Protection Alliance
Read here how the Ghanaian government has misused road construction funds, and are now issuing a tax hike in the form of a toll. The TPA Ghana is calling them out on this dishonest practice.
The Taxpayers’ Alliance Ghana said they are “opposed to any form of increase in taxes and levies considering the economic hardships that the Ghanaian taxpayer is going through, the high cost of doing business coupled with the current energy crisis.”
Mr. Bekoe charged government to render an account to Parliament on the usage of the road fund before thinking of burdening the taxpayer with increments.
This week, Michael Jaeger & Daniel Junker of the German Taxpayers Association met with Sarah Elliott and Staffan Wennberg in London to plan for the upcoming biennial WTA Conference in Berlin on the 18-19th March 2016. It was a productive meeting, as speakers and panels were ironed out and ideas shared. While in London, they met with the UK’s Jonathan Isaby, CEO of the TaxPayers’ Alliance (TPA). Michael and Daniel got to see the offices of the TPA, and meet some of the staff too . Should any of you come through London, do please contact Jonathan and check out the TPA!
Read the latest news on international property rights from around the world. Written and compiled by Lorenzo Montanari, Americans for Tax Reform.Read more