The recent events in my home country have lead me to ask myself this question can we really tax ourselves into prosperity?.
The government recently introduced a 16% vat on petroleum products this has seen the price of everything shoot through the roof this is in spite of the fact the international oil markets are currently stable. While the government is claiming to be adding this tax to help pay for the loans that they have taken out the situation on the ground is dire. In kenya the avarage earnings per person is a dollar or less per day and with the increase in oil prices the common low class citizen who make a bulk of the population will be hard pressed.
The action by the government is akin to someone standing inside of a bucket and trying to lift himself up by the handle.