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Tax Sukuk… A Brilliant Idea, But Let's Hope We Aren't Spending Tomorrow's Taxes Today

Egypt is studying a new financing instrument called Tax Sukuk: taxpayers pay tomorrow's taxes today in exchange for a yield. The article explains why the idea is genuinely clever, and why its very cleverness is the source of concern: because we are not creating new revenue, we are pulling future money to spend today. If the proceeds go toward productive projects that expand the tax base, this is r