From Ibn Khaldun to modern economists; larger tax net and lower taxes can fuel growth

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