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RE: LeoThread 2025-11-16 18-37

in LeoFinance2 months ago

Part 5/14:

The TPA then gained prominence during the 2009 MPs’ expenses scandal, further establishing its role as a watchdog. Over time, the group shifted from merely criticizing high taxes to proposing clear, comprehensive reforms based on academic research and practical policy ideas.

Advocating for Simple, Transparent Taxation

One of the TPA’s signature proposals is the "Single Income Tax"—a flat, proportional tax system taxing all flows of income once and only once. This approach would abolish complex taxes like inheritance tax, stamp duty, and various transaction levies, thereby simplifying the tax code and reducing loopholes.

Such simplification offers multiple benefits:

  • Economic Growth: A transparent, predictable system encourages investment and entrepreneurship.