When it comes to taxes, it’s like that annoying pimple that just won’t leave our body. You don’t like it and you can’t avoid it. In one way or the other, whether you like it or not, you’ll pay taxes. You pay taxes on just about everything you do; the power you use, the appliance you buy, the car you drive… just about everything that you do, the government has a way of taking chunks of it.
Apparently, it’s for the building of the society. They need it so that infrastructures can be built and we can all enjoy it. In a country where the taxes are put to the use that they are designed for, everything will definitely work out well for everyone involved. But when the opposite is the case, you can bet it that the opposite will be the result.
However, today’s post will not center on the taxes we pay on goods and services, but instead on the taxes placed on salaries and earnings. For salary earners, it’s usually a fixed percentage that they get to pay every month. Many times, it’s automatically deducted from your salary. This is good because it eliminates the temptation to withhold the money due to some form of emergency. However, for others, especially business owners, you’d have to run it all yourself.
The truth is, when you think about the entire tax issue, it won’t be fair to everybody. There are people who think that the rich should be taxed more simply because they have more money, but is that fair? Especially if they worked hard to acquire their riches, why should they pay more than everyone else? When we work with percentages, the rich still pay more.
If the tax is 10% on everyone’s earnings, someone who earns N100k will pay N10k as tax, leaving him with N90k. However, for a person who earns N1 million, the tax would be N100k, leaving them with N900k. Then, someone who earns N10k will pay N1k in taxes and be left with N9k. When you look at it, one person’s tax is another person’s monthly salary. Also, someone that earns in millions might not really feel the bite of the tax when he pays it because he has just enough to cushion the effect.
Someone that earns N100k will tell a different story though. While N90k would be manageable, they would greatly miss that extra N10k they had to let go. However, the worst hit would be the N10k earners. No matter the amount they take out, they would feel it to their soul. This is why no matter the circumstance, it’s always as if the poor are the worst hit by taxes because when they’re done paying it, it just about sucks everything they have. Meanwhile, the rich pay their quota and don’t even blink. It’s not fair at all, but it’s life.
But then, I’ve heard of ways where people can legally avoid taxes, but that’s a pretty complex process and it usually only works when you have established businesses and companies. So yeah, you still have to be rich to be able to avoid it. The truth is, whether you accept it or not, the world is designed to be more favorable to the rich than it is to the poor. Even the laws of the land are designed to favor the rich. That’s why being rich can make you get away with a number of things. Not everything mind you!
So, do I think that the rich should pay more taxes? Honestly, I don’t think it’s fair for the rich. They didn’t ask to be rich and everyone else be poor, so it doesn’t make sense why they should be charged more for the upkeep of the society. It’s not like they just picked up the money on the road or something, they earned it all. It’s just emotions that make people want the rich to pay more.
I’m sure that if you’re in their shoes, you’ll realize that paying more taxes is not such an attractive thought either. After all, with our billionaire doings, we can’t just be spending money like that, can we? So, let’s just stick to the usual system we’ve got going. But then, I don’t really know much when it comes to tax laws and the like, everything I’ve said in this post is simply based on my little knowledge gotten from my day-to-day living. If it all sounds ludicrous, well, sorry about that.
As usual, don’t quote me, because I will deny you ooo!
