Paying Taxes
Kendley Fleurentin
Career & Financial Management
What is tax ? Tax a compulsory contribution to state revenue, levied by the government on workers' income and business profits or added to the cost of some goods, services, and transactions. People pay taxes every time they get a paycheck. They pay taxes for social security and medicaid. There are many advantages and disadvantages to paying taxes.
Some advantages of paying taxes are control inflation , discourage use of harmful products, revenue generation , redistribution of income. The primary job of the Federal Reserve is to control inflation while avoiding a recession. Controlling Inflation forms a significant part of the economic activities of a nation. Inflation is an economic condition characterized by a general rise in the prices. They use the term "Revenue Generation" instead of "sales" or "marketing" because the discipline of generating revenue should penetrate every corner of your organization. Revenue generation doesn't just reside in your sales & marketing department. When you pay taxes the government gets to take care of all our social and community needs. You pay for free education and medicare. You also pay for social security , national security , and public utilities and amenities such as roads, bridges, highways, free education, free medication, job opportunities, etc.
There are also many disadvantages to paying taxes. Taxes can result in unfair distribution of wealth or services. Schools funded by real estate taxes, for example. High-value towns get great schools, inner cities with low-value property get bad schools, and the cycle perpetuates itself. Elderly get higher tax bills as their property appreciates.Taxes can discourage workers. If you earn more, you could end up in a higher bracket where your income is taxed more. No point in working harder if more is taken away.Taxes can influence behavior. People do things to avoid paying taxes that might not be in their or their
Career & Financial Management
What is tax ? Tax a compulsory contribution to state revenue, levied by the government on workers' income and business profits or added to the cost of some goods, services, and transactions. People pay taxes every time they get a paycheck. They pay taxes for social security and medicaid. There are many advantages and disadvantages to paying taxes.
Some advantages of paying taxes are control inflation , discourage use of harmful products, revenue generation , redistribution of income. The primary job of the Federal Reserve is to control inflation while avoiding a recession. Controlling Inflation forms a significant part of the economic activities of a nation. Inflation is an economic condition characterized by a general rise in the prices. They use the term "Revenue Generation" instead of "sales" or "marketing" because the discipline of generating revenue should penetrate every corner of your organization. Revenue generation doesn't just reside in your sales & marketing department. When you pay taxes the government gets to take care of all our social and community needs. You pay for free education and medicare. You also pay for social security , national security , and public utilities and amenities such as roads, bridges, highways, free education, free medication, job opportunities, etc.
There are also many disadvantages to paying taxes. Taxes can result in unfair distribution of wealth or services. Schools funded by real estate taxes, for example. High-value towns get great schools, inner cities with low-value property get bad schools, and the cycle perpetuates itself. Elderly get higher tax bills as their property appreciates.Taxes can discourage workers. If you earn more, you could end up in a higher bracket where your income is taxed more. No point in working harder if more is taken away.Taxes can influence behavior. People do things to avoid paying taxes that might not be in their or their