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On a Taxpayer Quotation :'Sure I Pay a Lot of Income Tax, but I Don't Mind because I Get Back Just as Much Money as I Pa - Essay Example

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A Taxpayer Says ‘Sure I Pay A Lot Of Income Tax, But I Dont Mind Because I Get Back Just As Much As Money As I Pay In’. Assuming That His Facts Are Correct, Explain Why The Taxpayer's Reasonly Faulty Table of Contents Table of Contents 2 Introduction 3 Discussion 4 Conclusion 7 References 8 Introduction Every citizen of the country is morally or legally liable for paying tax on a fair basis…
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Essay on a Taxpayer Quotation :Sure I Pay a Lot of Income Tax, but I Dont Mind because I Get Back Just as Much Money as I Pa
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On a Taxpayer Quotation :'Sure I Pay a Lot of Income Tax, but I Don't Mind because I Get Back Just as Much Money as I Pa

Download file to see previous pages... Tax revenue collected by the governments are utilize for various important purposes such as development of infrastructure, health services, public services and many other community services1. The government of any nation largely relies on the tax revenue for the overall socio-economic development of the nation. Thus, it is the prime responsibility for the citizen of the country to honestly pay taxes at regular intervals with integrity. Discussion It has widely been considered that tax is a vital tool for the economic as well as social development of any nation. However, every person is not liable for paying taxes being eligible to attain the benefits of certain specified exemptions. For instance, in many nations, a person with lower income is exempted from paying tax. Generally, the people with high income are entitled to pay more tax than those with low incomes. Thus, the percentage of tax money differs from person to person depending on their income, wealth and other criteria established by the law of a particular country. Furthermore, the people are well accustomed with the fact that taxes paid by them are utilized for their community benefits. Despite, the fact, in most instances people have been observed as quite unwilling to pay taxes to their respective tax departments. Tax, if properly used, results in economic growth, promotes healthy infrastructures, reduces inequalities and enables most efficient use of nation’s resources. Consequently, such activities lead towards improved living standard and healthy surrounding for all the citizens of the country2. Additionally, funds collected as tax are invested for that activity which directly or indirectly benefits every citizen irrespective of their social or economic status. For instance, tax money invested in construction of roads and bridges benefits both rich as well as poor citizens of the country. Conversely, if no one takes the responsibilities for constructing roads, bridges and other infrastructural needs, every citizen will have to face several problems and their everyday lives will become more complicated as it was never before. However, even if the money that an individual pays in the form of taxes get rebated or refunded, their life is not going to be easy rather than they will be burdened with cumbersome problems such as difficulties in transportation, unhygienic living environment, lack in proper means of education and limited numbers of hospitals which may directly hamper the growth interests of the community. Furthermore, government bodies will have limited funds for the purpose of establishing civil service department such as police stations, fire brigades and other bureaucratic departments which will intensely lead towards increase in crime incidents and inequalities of income. Despite the best efforts of the administrative bodies, desired sustainable economic and social growth cannot be achieved due to the lack of fund with them owing to the disruptions in the taxation policies and its implementation. Conceptually, it will lead towards higher personal income but the overall infrastructural development shall not be attained, further increasing the poverty ratio along with the income parity within the national context. ...Download file to see next pagesRead More
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