Taxes – Part 1: The Basics

13 May

Ray: A wise man once summed up life by saying, “You live. You Die. And in between, you pay taxes.” Taxes are the life’s blood to any government, in any political body, anywhere on the planet. Taxes are imposed and collected by a governing authority. If taxes are not paid, that same government can also enforce any rules associated with a failure of payment. Why? Because governments need taxes to exist!

Through out history, taxes have come in many different forms. Sometimes the government collected clay, metals, clothing, or anything else that was needed at that time. In every circumstance, the government used those taxes primarily to fund a defense program and to build infrastructure for the citizens who paid taxes. That’s basically the essence of why governments collect taxes.

Paying taxes is something that the people of the United States have never agreed upon since the inception of this great nation. The Founding Fathers were known to consistently debate the nature of taxes and if taxes should be collected at all. Today, we are all accustomed to the idea that we have to pay taxes but there are still different ideologies as to how and why the American people should be taxed.

As this discussion continues on Seth and Ray’s blog, it would behoove all of us to think about the current tax system in place now. Find out which political leaders want to increase or decrease taxes and why. Find out which leaders want to eradicate taxes altogether and why. Either way, try to develop your own philosophy on taxes and how the government should collect and spend our treasure. We’ll definitely have an opinion but we want to hear yours too.

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