Taxes And Development In Developing countries.

There is serious intellectual terrorism albei t some truths in it going on around the world as it were unchanged over the last half a millennium of western civilization.I recently as a globetrotter on the internet searching for ideas stumbled on a comment to know the strategic intent of Bretton woods institutions.In the conference a leading speaker and a senator had said the African countries are seriously drained by high taxes and the possibility of economic reconstruction fails woefully and nothing get built no factory no road and the taxes are just too much.They have some of the highest tax rate in the world and it kills private sector in raising capital.Consequently they have the lowest wage in the world.The origin of high tax rate was linked to the intention of these countries'resolve at paying back loans they owed the Bretton woods institutions.Unfortunately high tax rate according to him cannot help them repay loans if they kill the economy.This however encouraged these african countries to lock themselves in gruesome economic depression in their attempt to repay loan make a mess of the intention of the Bretton woods.They killed any hope of these countries ever helping themselves and the prospect of economic Consequently leaves them at the mercy of charity and loans from westerners and beyond.

Frankly speaking the senator was blunt and I think a rational government should act quickly and It cannot be resolved when rigid custom in politics is taken into consideration.In one of my articles I wrote about taxation investment and the kind of wealth government can generate from the taxes it raised.The system of government is not just costly or expensive across Africa but that tribalism and corruption has worsened the plight of such countries with no common sense..