The Forum of Free Enterprise was a non-political organization founded in 1956 by A. D. Shroff and was established to educate public opinion in India on free enterprise and a democratic way of life. The Forum published booklets to further its objects. The following book titled, “Wealth And Expenditure Taxes; Their Effect On The Indian Economy And The Common Man” was published on September 6, 1959 and was authored by Prof. Russi Jal Taraporevala. The booklet covers the author’s views on the recent budget of the Government of India and how the total burden of direct and indirect taxation proposed in the budget exceeds the tax burden of any previous budget of India. The text explains the first ever wealth tax and its imposition, and how the imposition of wealth tax on individuals is taken as the substitute for the very high slabs of income tax and super tax prevailing in various countries. Then the text explains the burden of the Wealth Tax, its implications & effects and how Kaldor’s Recommendations were refused. Then the author explains how the Wealth Tax on Companies will impose double taxation on the assets of companies. Further in the text, the author discusses the Expenditure Tax, Rationale of the Expenditure Tax, burden of the tax, and its effects on the common man followed by conclusions.