Some people believe that governments should take large proportions of people's salary to develop public services, while others say that it is a bad thing.
Some people say that the authorities should charge high taxes on the income of individuals for the development of basic facilities, whereas others believe it is not appropriate. Although I support heavy taxes because it will ease the economical burden of governments, high rates of taxes can result in more financial pressure on taxpayers.
Governments can use the collected tax money to construct and improve the fundamental infrastructure. Amenities such as rail networks, highways, and academic institutions require huge initial capital investments. Though governments hold billions of dollars in reserves, it is difficult for them to pay these enormous amounts alone. Therefore, support in the form of taxes paid by the citizens of a country can greatly lower the expenditure incurred by authorities. For example, Indians pay fifteen percent additional tax known as the "Education Cess" to reduce the total budget outlay of the government. However, I think that imposing high taxes is sometimes not suitable because this money can be easily misused by some politicians.
Large amounts of tax, on the other hand, can put unnecessary stress on a person by cutting down his savings. This is to say that a mediocre employee produces an average salary, and a little is left after further deductions of the basic expenses. Such savings will be nominal if there are large taxation rates. Furthermore, future planning, including investment for retirement, luxurious lifestyle, and children's higher education, would be impossible with limited savings. In Sweden, for instance, residents have to pay 57% of their remuneration as taxes, and due to that many Swedish people live under a huge debt of unpaid tax dues.
To conclude, increased taxes can aid the governing bodies financially by lowering their overall cost. Nevertheless, I believe that charging excessive taxes can depress individuals by reducing their important savings.
Discuss both views and give your own opinion?
Some people say that the authorities should charge high taxes on the income of individuals for the development of basic facilities, whereas others believe it is not appropriate. Although I support heavy taxes because it will ease the economical burden of governments, high rates of taxes can result in more financial pressure on taxpayers.
Governments can use the collected tax money to construct and improve the fundamental infrastructure. Amenities such as rail networks, highways, and academic institutions require huge initial capital investments. Though governments hold billions of dollars in reserves, it is difficult for them to pay these enormous amounts alone. Therefore, support in the form of taxes paid by the citizens of a country can greatly lower the expenditure incurred by authorities. For example, Indians pay fifteen percent additional tax known as the "Education Cess" to reduce the total budget outlay of the government. However, I think that imposing high taxes is sometimes not suitable because this money can be easily misused by some politicians.
Large amounts of tax, on the other hand, can put unnecessary stress on a person by cutting down his savings. This is to say that a mediocre employee produces an average salary, and a little is left after further deductions of the basic expenses. Such savings will be nominal if there are large taxation rates. Furthermore, future planning, including investment for retirement, luxurious lifestyle, and children's higher education, would be impossible with limited savings. In Sweden, for instance, residents have to pay 57% of their remuneration as taxes, and due to that many Swedish people live under a huge debt of unpaid tax dues.
To conclude, increased taxes can aid the governing bodies financially by lowering their overall cost. Nevertheless, I believe that charging excessive taxes can depress individuals by reducing their important savings.