Foundation for Economic Growth,
P.O. Box 10-282,
Wellington, N.Z.
The Foundation for Economic Growth is a group of like-minded individuals who have decided to act rather than accept New Zealand's continuing poor economic performance. The Foundation is not affiliated with any political party. Add Your Comments Here.

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Most recent update: Jul 3rd, 2017 - 15:54:31

Russia and the FLAT TAX
Can you believe it? Flat taxes really work. After 70 years of socialism Russia is now embracing realism. They now have a flat tax of 13% - yes you are seeing correctly - only 13%. Didn't Roger and Ruth go over there and offer them some advice??? Have a look at this site and think! Visit Website ]
May 22, 2004, 15:28

A Nursery Rhyme

What Happened? At first I thought this was funny...then I realized the awful truth of it. Be sure to read all the way to the end!

Tax his land, Tax his bed,
Tax the table At which he's fed.

Tax his tractor, Tax his mule,
Teach him taxes Are the rule.

Tax his cow, Tax his goat,
Tax his pants, Tax his coat.

Tax his ties, Tax his shirt,
Tax his work, Tax his dirt.

Tax his tobacco, Tax his drink,
Tax him if he Tries to think.

Tax his cigars, Tax his beers,
If he cries, then Tax his tears.

Tax his car, Tax his gas,
Find other ways To tax his ass

Tax all he has Then let him know
That you won't be done Till he has no dough.

When he screams and hollers, Then tax him some more,
Tax him till He's good and sore.

Then tax his coffin, Tax his grave,
Tax the sod in Which he's laid.

Put these words upon his tomb,
"Taxes drove me to my doom..."

When he's gone, Do not relax,
Its time to apply The inheritance tax.

Accounts Receivable Tax
Building Permit Tax
CDL license Tax
Cigarette Tax
Corporate Income Tax
Dog License Tax
Federal Income Tax
Federal Unemployment Tax (FUTA)
Fishing License Tax
Food License Tax,
Fuel permit tax
Gasoline Tax (42 cents per gallon)
Hunting License Tax
Inheritance Tax
Interest expense
Inventory tax
IRS Interest Charges IRS Penalties (tax on top of tax)
Liquor Tax
Luxury Taxes
Marriage License Tax
Medicare Tax
Property Tax
Real Estate Tax
Service charge taxes
Social Security Tax
Road usage taxes
Sales Tax
Recreational Vehicle Tax
School Tax
State Income Tax
State Unemployment Tax (SUTA)
Telephone federal excise tax
Telephone federal universal service fee tax
Telephone federal, state and local surcharge taxes
Telephone minimum usage surcharge tax
Telephone recurring and non-recurring charges tax
Telephone state and local tax
Telephone usage charge tax
Utility Taxes
Vehicle License Registration Tax
Vehicle Sales Tax
Watercraft registration Tax
Well Permit Tax
Workers Compensation Tax

COMMENTS: Not one of these taxes existed 100 years ago, and our nation was the most prosperous in the world.
We had absolutely no national debt, had the largest middle class in the world, and Mom stayed home to raise the kids.
What happened?

Aug 17, 2007, 16:23

Tax Reform in the U.S.A.

Most tax reformers say taxes should be small, universal and easily administered. Over time, the Western World has developed exactly the opposite and many other countries are worse than we are. This discussion on the American tax situation has many instructive points for us. Of particular interest is the proposal to exempt families from income tax up to a limit of $100,000 and then have a flat 25% rate after that, making up the difference with a universal value added tax of between 10% and 15%. Well, we have the GST, why don't we implement the other bit?? No income tax for 75% of all workers. That would really boost the growth rate. We would overtake Australia in 10 years, max!

Nov 30, 2004, 09:52

How to Save Money and Boost Growth

Reducing marginal tax rates is a concept which we are told will only make the rich richer and hurt the rest of us. This article is a very intersting survey of what actually happened when countries dramatically reduced marginal tax rates in the 1980s.

As they say:
"Several economies that seemed on the verge of bankruptcy in the early eighties were suddenly revived once marginal tax rates were reduced. In 1983 to 1984, Turkey's marginal tax rates were slashed: the minimum rate dropped from 40 to 25 percent, the maximum from 75 to 50 percent. Real economic growth jumped to nearly 7 percent in the following four years and to 9 percent in 1990. Like Turkey, South Korea was deep in debt to international banks in 1980, when real output fell 2 percent. Korea subsequently cut tax rates and expanded deductions three times, and economic growth averaged 9.3 percent a year from 1981 to 1989. In the early eighties the African island of Mauritius faced an unemployment rate of 23 percent and massive emigration. Tax rates were cut from 60 percent to 35 percent, and the economy grew by 5.4 percent a year from 1981 through 1987. Egypt, Jamaica, Colombia, Chile, Bolivia, and Mexico had similar experiences after slashing marginal tax rates."

Have a look at the changes that were made in tax rates around the world and check out the results. If you want to boost growth then lowering the tax rate certainly looks like a good idea . . .

Visit Website ]
Oct 4, 2004, 16:02

Income Tax - Now Too Complex?

You may think that NZ IRD has bad vibes and difficult forms and requirements. Even though they have hounded tax payers to suicide they haven't yet reached the extent of complication of the IRS in the USA. After 100 years of Income Tax it is time for a complete rethink on our objectives. See what the US Taxpayer suffers:

Aug 27, 2004, 10:40

Creating Wealth and Keeping it

The New book by Phil Scott, President of the Foundation for Economic Growth.

"This book is good, damn good and no statistics!" Lindsay Gordon, MA, MSC, PHD.

Every serious economics student should have a copy and read this ground-breaking foundation of clear economic thinking. Real Economics explains how human actions shape our world and why so much seems to be going wrong for Western economies. This book will bring enlightenment for the general reader who will see why a few very wealthy are becoming exceedingly rich and the middle classes are on the road to serfdom.

See more: www.realeconomics.co.nz