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Good News – Kenya Repeals Massive Tax Hikes

Yesterday, we reported on how steep tax increases by Kenya’s government had touched off massive citizen protests that resulted in five deaths. The tax hikes were imposed by International Monetary Fund bureaucrats who demanded Kenya meet debt payments that consume nearly three-quarters of Kenya’s entire economic output.

President William Ruto told his people in a TV address he was withdrawing the bill (“I concede”). Some of his advisers are instead urging free-market reforms that will grow the economy.

Power to the people!

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