Source: Ludwig von Mises Institute
by Don Olanrewaju
“There is also no evidence that increased revenue for the government would lead to reduced deficit spending. As we have seen from Western nations, increased government revenue usually comes with more government spending. In fact, most of the debt taken on behalf of African countries by their leaders ends up being shared by international agents, governments, and their cronies, with very little going to the ordinary citizens. When the interest bill comes due, ordinary citizens who benefit least are asked to foot the bill. What is the solution? Restructure the existing debt, cut government spending and money-printing to allow savings to accumulate into capital, which would be led by the private sector.” (01/30/25)
https://mises.org/mises-wire/kenya-and-nigeria-hiking-taxes-when-there-nothing-left-tax