Tax reform inducing growth? - Commentary - Jamaica Gleaner - Sunday | April 1, 2012: "BRITAIN'S CHANCELLOR of the Exchequer, George Osborne, announced some new tax measures "to reward work and support growth" in his presentation of the government's budget for 2012. In doing so, he summarised Adam Smith's four principles in the administration of the tax system as simple, predictable, fair and support jobs. He, however, went on to announce a 20 per cent sales tax on Cornish pasty - a cheap pastry bought primarily by workers and students - which is reported to have opened a 'never-ending class war' in the United Kingdom, with certain sections of the media attacking the tax as an assault on 'working class life.'
Adam Smith would certainly have been very pleased with this response because he had once declared that the taxes paid by each one of us as citizen should be seen as "a badge, not of slavery, but of liberty". Smith, regarded as the father of capitalism, argued that a 'fair tax' is tax paid proportionate to one's ability, and to 'support work' the tax system must as far as possible allow for as much disposable income in the hands of the people."
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