Abolition of Income Tax and Usury Party

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Abolition of Income Tax and Usury Party
Leader Stephen Goodson
Slogan Progress and Prosperity
Founded 1994 (1994)
Headquarters Pringle Bay
Politics of South Africa
Political parties

The Abolition of Income Tax and Usury Party is a South African political party founded in 1994.


Its principal objective is monetary reform, which it wishes to achieve by the establishment of a state bank, which will issue all South Africa's credit free of interest. This will enable the abolition of personal income tax, a reduction in value added tax (14%) and a substantial expansion of social upliftment programmes.

Commercial banks and private banks, which currently provide the nation's money supply at interest by means of fractional reserves, would become full reserve banks.[1] The party has, unsuccessfully, contested one national and three local government elections.

Election results[edit]

National elections[edit]

Election Votes % Seats
1999 10,611 0.07 0

Stephen Goodson[edit]

The leader of the party, Stephen Goodson, is a former director of the South African Reserve Bank (2003–12).[2] Goodson had stated that that the Holocaust was “a huge lie” as "the principle is to extract enormous sums of money from the Germans as compensation", blaming international bankers. Goodson authored a book titled Bonaparte & Hitler Versus the International Bankers where he maintained World War II was provoked by the economic success of Germany, and he has also criticized the political actions of Jewish bankers which were posted on anti-Semitic websites.[3] As a result, the South African Israel Public Affairs Committee called for the Reserve Bank to fire him for his pro-Nazi statements.[4] The Reserve Board’s chairman, Mary Kluk, condemned Goodson’s opinions:

“The views purportedly disseminated by Stephen Goodson are hurtful and offensive, not only in the way they give credence to the pernicious theory that Jews fabricated the Holocaust in order to extort money from Germany but in how they serve to glorify the legacy of the hateful Nazi regime. Such views serve only to distort the historical record, falsely denying a time when ideologies of racial hatred caused untold suffering to millions and insulting the memory of the innocent victims of those times.”

In Veterans Today, Dr Ingrid Rimland Zundel quoted from Goodson when she wrote that Japan "had peacefully occupied Indochina, with the permission of Vichy France", but eventually was "forced into attacking America in order to maintain her prosperity and secure her existence as a sovereign state."[5] Rimland Zundel also reposted a piece by Goodson who admired how Hitler had defeated the "banksters".[6][7]