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Reflection about taxation
Reflection about taxation
Reflection about taxation
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Why do the people of the United States have to pay taxes? Taxes have been a part of history since the start of the first civilizations. There are many different aspects of having to pay taxes, some negative and some positive. Many people think that taxes are over priced, dumb, and unnecessary, while others consider them helpful to society, and help protect us. Ultimately, taxes are not liked in this world. I asked my mother “what are some negative aspects of having to pay taxes.” she answered with “The governments are always raising them.” I think that is very true because every year when my parents have to pay their taxes they always say “This was more than the last time we paid taxes.” I think the government raises taxes because he wants more money and he only raises it for …show more content…
People like taxes because they provide safety and many other good things. Some of the tax money goes to schools, government, roads. Some of the tax money goes to schools that would really need the help. If there is a problem to where you can’t pay your taxes there is a system that will allow you to pay the tax money as you go. Some cities or states depend on tax money because some of the money will go to helping the roads or to the people that are unemployed and need the money to help them afford food, homes, and a ride to work. I asked my mom “Why do you think we have to pay taxes?” She answered with “Because the taxes money goes to schools and helps the military with there weapons and we as in us people would get better roads and education.” For me and many others we would agree on what she is saying or trying to say. Taxes also help special people with their needs. Most of the schools we have here today are for people without the special needs but, the people with special needs the tax money goes to there schools to help them try to learn and work on what they are not capable of doing. In the end taxes are also very well
After the French and Indian War ended in 1763, Great Britain had nearly gone bankrupt paying for the war. The British thought it was only logical to start new taxes against the colonists. After all, to the British, they had fought the war in the name of the colonies and in what they believed was in their best interest. Many different types of taxes came and went to help pay for the debt. Over time, the
A state income tax is a small price to pay considering all the benefits it provides many citizens with. As a college student, I am trying to receive as much state money to fund my college career, and not having a state income tax is leaving less money to fund my education. With a high sales tax my school supplies end up being more expensive and with property taxes being so high, rent increases.”The Senate’s first crack at the budget calls for hundreds of millions of dollars of cuts for universities”(Watkins, Daniel, 2017).
As of today America’s national debt is 18 trillion dollars and approximately 5 trillion of that is held by foreign countries including China and Japan. In the last few years we seem to hear more about balancing the country’s budget and politicians raising the debt ceiling so we can pay on this debt. How have we gotten into such an overwhelming and complicated problem with our nation’s money? Ironically the same can be said for our individual household debt as well as making the same mistakes and trying to find creative ways to be accountable to our financial responsibilities. Teaching the basics of personal finance n our schools can culturally change our financial practices, leading to a more financially literate public and a stronger, more stable, America. If the younger generations can become more financially savvy, then there is an opportunity for our nation as a whole to become less dependent on debt to survive.
Introduction: In the year 1862 during the civil war congress implemented the first income tax in America. It was 3% per year. However, it was not until 1913 when the 16th Amendment to the Constitution was passed, which granted the government the ability to impose a tax on individuals’ income. Since then it has been an issue to determine how much people should be taxed. Tax rates in America change drastically; for example, in 1963 a person in the highest tax bracket would give 90.8% of their income to the government. In contrast, that same person would only pay 28.0% in 1988. The tax rate for income tax is an issue because for every dime that someone pays in taxes is one dime that they are not able to spend themselves. Additionally, people
The national debt surfaced after the revolution when the United States government had to borrow funds from the French government and from the Dutch bankers. By 1790, the U.S. government accumulated millions in debt, but no one knew precisely how much. The Constitution mandated that the new government take over the debts of the old government under the Articles of Confederation.
When George Washington was elected president, even though he was reluctant, he worked hard to ensure peace in the nation. Washington and his Cabinet knew that taxes were important, and the men were very cautious when passing them. The government was new, and could be overthrown just like the colonists did in the Revolutionary War. Also, the French Revolution was occurring, and Cabinet members didn’t want their government to be criticized to the point of rebellion and violence. Washington and his Cabinet were careful, passing just the Excise Tax on luxury items. The men knew the danger of taxes, but today, that notion has seemed to be pushed aside. The taxes in America are high, and just getting higher, much to the disgust and anger of Americans.
I believe that I pay too much tax. Before I took an economics' course I did not know where my money went every month. I realized that all the money I paid to the government was benefiting others and not me. The government spends too much money on social security programs. The social security program does not be...
Initially, the concern over taxation was the starting off what is known as the American Revolution. The concept was simple. American colonists were angered by the taxes the King had imposed upon them. They believed they should not have to pay the king taxes of which they had no say over. However, the reason behind the taxes was to repay the debt caused by the French and Indian War, which had fought for the colonists’ protection; therefore, the king believed the colonists should help repay the debt which had been gained for their benefit. Colonists; however, did not agree and rebelled against the imposed taxes and acts the king began to impose on them, voicing their famous line in retaliation: “No taxation without representation.”
Taxpayers are another larger stakeholder in this debate. Their claim arises from the fact that the government is taking their earnings. This often raises debates about the ethics of requiring taxes (essentially taking from those who worked or earned it), often wealth redistribution and whether or not it is right for the government to decide wha...
Taxation has always been a major controversy. Just like any major corporation, the government is constantly looking to raise revenue. The easiest and fairest way to do this is by taxing the people. However, how the people will be taxed is always an issue.
With the federal taxes lowered, everyone gains. We see an increase in pay, which is desperately needed in today’s economy. We see an increase in the federal revenue funds. We see the national debt being lowered. We even see the benefits towards other systems such as the increase of trade and lowered prices in the U.S. in turn giving us more to spend and repeat the cycle. These are the reasons why our taxes should be lowered.
Taxes are part of an agreement that voters make with government, a contract in which citizens agree to exchange their money for the government's goods and services. To consume these goods and services without paying for them is itself theft, and is rightly punished as breach of contract. Some may object that they have not agreed to the contract, but if so, then they must not consume the government's goods and services. Furthermore, contract by majority rule is better than by minority rule, one-person rule or anarchy (which results in kill-or-be-killed). Opponents of taxation under democracy are therefore challenged to find an improvement on democracy.
The use of taxes is one of the government's favorite ways to make its presence known in the economy. While this method seems blatantly obvious, many of the ways the government uses the money collected by taxation is not. Some of the money it takes is used to fund other programs designed to "protect" consumers and to "create" jobs. Be...
The money paid for taxes goes to many places like paying salaries for government workers, police , firefighters and help fix many roads. Some good things about taxes are parks, roads, government assistant programs. If I could change the way we pay taxes now I think if we were taxed more during the year there would be less, we would need to buy at the end of the year.
The government use of taxes plays a crucial role in today’s economy as well as personal finances, it has and will continue to leave its mark on the world we live in.