These 2 Policies are Crushing the UK Economy
Economic growth in the UK unexpectedly shrank by 0.1% in January 2025, a dramatic slowdown from the 0.4% growth reported for the previous month. Yet, KPMG forecasts 1.7% GDP growth for the UK this year. The country will need to grow while
Tariffs vs Taxes: Choosing Between the Devil & the Deep Blue Sea
The Trump administration’s 25% tariff on steel and aluminum imports from anywhere in the world sent shockwaves. The global stock market bloodbath stands as a testament to how unnerving this move was.
Voluntary Tax: It’s Merely a Sugarcoated Pill
The US tax code states that it is based on “a system of voluntary compliance.” However, this is a complete misnomer. Taxation in the US, like most other countries, is instead based on the phrase used by highwaymen during robberies:
Global Minimum Tax Deal: The Flawed Notion of “Fair” Taxes
What do you call it when someone threatens you with dire consequences unless you pay them a part of your hard-earned money? Maybe mugging or theft? Taxes are not that different. You part with some of your money because you don’t want to face
The EU’s Carbon Tax May Hurt Everyone
On 25th April, the EU parliament voted in favour of a new law: the Carbon Border Adjustment Mechanism (CBAM). The first-ever carbon border tax aims at reducing greenhouse emissions by 55% by 2030. The legislation means taxes being levied on
Can Tax Cuts Revive the Indian Economy in 2020?
The Indian economy dipped close to 6-year lows in the July-September quarter, touching 4.5%. In fact, following a glorious run in 2018, the economy struggled through 2019, with the three key drivers of economic growth, investment, consumption and exports, declining. Both
Will Trumponomics Drive America into Another Recession?
The Trump economy received an “important endorsement” from Fed Chairman Jay Power, who said, “The US economy is in great shape…Most people who want to find jobs are finding them,” said an article published by Yahoo Finance on June
Are High Taxes Good for the Economy?
Advocates of high taxes are often heard saying that taxes strengthen the nation by funding essential public utilities (like highways and elementary schooling) that benefit citizens and facilitate businesses. On the other hand, free
Landmark GST Bill Opens India to a Common Market System
Somewhere along the path of errors comes a cumulative benefit. India has passed the much-awaited Goods and Services Tax (GST). The Indian Parliament voted 197 in favour of this bill with none against in the Rajya Sabaha. This bill is being hailed as a landmark tax reform and the biggest since Independence. Under the new bill, the existing system of Value Added Tax (VAT)
Atlantic City Casinos in Peril: Will Governor Christie Come to the Rescue?
With four out of the 12 casinos in Atlantic City shutting down in the last eighteen months, Wall Street gas been speculating about what these changes indicate. Some believe that the market is right sizing, since the demand for
Rakesh Wadhwa. Ever since, I was a school boy, I knew India was on the wrong path. Socialism was just not what we needed to get ahead. Government controlled our travel; government controlled our ability to buy and sell; and government controlled our freedom to move our money. My life has focused on the inherent rights people have. When I was in college, I never understood, what the governments meant by their "socialistic attitude". If people are free to buy, sell and move their capital themselves without any restrictions by state, then the welfare of people is inevitable & hence the countries they live in will become wealthy. The government has no right whatsoever, to point a finger at me or my business. I am not a revolutionary. I just want to light up my cigarette and not get nagged about it. I believe in non-interfering attitude to attain more. 
The Bastiat Award is a journalism award, given annually by the International Policy Network, London. Bastiat Prize entries are judged on intellectual content, the persuasiveness of the language used and the type of publication in which they appear. Rakesh Wadhwa won the 3rd prize (a cash award of $1,000 and a candlestick), in 2006.
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