The Minister for Finance, Ken Ofori-Atta, is expected to present the 2023 Mid-Year Budget Review today, Monday, July 31, 2023, on the floor of Ghana’s Parliament.
Many Ghanaians including experts have urged the Nana Addo Dankwa Akufo-Addo government not to introduce new taxes; warning it might have disastrous consequences on businesses and the livelihood of ordinary Ghanaians.
The President and Founder of IMANI Africa, Franklin Cudjoe, has outlined eight reasons why the Akufo-Addo government cannot introduce new taxes.
In a Facebook post shared on July 31, 2023, Cudjoe said that one of the reasons the government cannot introduce new taxes in the mid-year budget review is that taxation is a lazy way of raising revenue.
He added that the government introducing new taxes would adversely affect business and would be a reverse of President Akufo-Addo’s manifesto promise to move the country from taxation to production.
Below are the reason the IMANI boss gave for the government not to introduce new taxes:
1.Some taxes imposed by the government is not only a lazy way of raising money to finance poorly thought policies and a very large and unproductive size of government, it drives millions of severely poor citizens further into extreme penury. These taxes a reverse of what was promised in the ruling NPP government’s manifesto- from taxation to production.
2. There is no worse tyranny than to force a man to pay for what he does not want merely because you think it would be good for him.—Robert A. Heinlein,
3. The wages of sin are death, but by the time taxes are taken out, it’s just sort of a tired feeling.—Paula Poundstone
4..Government’s view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keepsmoving, regulate it. And if it stopsmoving, subsidize it.– Ronald Reagan.
5. Giving money and power to government is like giving whiskey and car keys to teenage boys.– P. J. O’Rourke
6. The real goal should be reduced government spending, rather than balanced budgets achieved by ever rising tax rates to cover ever rising spending.– Thomas Sowell
7. Which countries contain the most peaceful, the most moral, and the happiest people? Those people are found in the countries where the law least interferes with private affairs; where the government is least felt; where the individual has the greatest scope, and free opinion the greatest influence; where the administrative powers are fewest and simplest; where taxes are lightest and most nearly equal–Frederic Bastiat
8. Elections should be held on April 16th- ( April 18th for Ghana??) the day after we pay our income taxes. That is one of the few things that might discourage politicians from being big spenders.–Thomas Sowell.
Source: ghanaweb.com
