US
People do not work to pay taxes; they work to earn after-tax income
Pakistan needs policies like tax rationalisation, free trade and sound money
If Pakistan follows stabilisation path, it is most unlikely it will be last IMF programme
Unless Pakistan adopts sustainable growth agenda, it will continue to see vicious cycle
Distinguishing between capital-driven, consumption-driven trade deficits is key
Devaluing country may not see any change in real output but will experience rise in inflation
Protective tariffs hurt traders, consumers, producers as well as economic growth
If rich are taxed too much, they will flee for favourable pastures and not pay any taxes
Flat tax plan will dramatically change taxation structure by aligning incentives
Economic liberalisation, rising incomes stimulate Delhi’s rapid growth