Government Taxes Bank Withdrawals…wat a baxide...

[RichD]

I am glad the Minister withdraw the proposal, in my opinion it would not have worked the way he wanted it. But this is a warning signal, that if expected income is not coming in, the withdrawal tax will come back.

This also means that the working class will have to be careful how they spend their income. Will probably have to find a second job or get into some small business. It would be nice to see the farm land in full operation, which would cut down on some imports and start exporting again.

But, as the saying goes: "You are born free, taxed to death!".

the major problem they had with this tax was they framed it incorrectly. back in the day the used to have stamp tax. whenever you did a banking transaction they had to attach a actual postage stamp to the receipt and your were charged for that. it was actually quite an efficient way for the gov to collect revenue on these transactions. and i don't recall hearing any complaints.