Even if taxes are a primary source of income for the government, still "apply high tax rates or note" is an ongoing debate question in every country. It is believed by many people that high tax rates results in the better public service. On the other hand, this idea is opposed by many residents. In this essay we will argue why higher tax rates negatively impact general public over the nominal tax rates.
In many countries, people are already paying hefty tax rates, if more tax is imposed on them, there will be two drawbacks mainly. One is, the taxpayers will feel overburdened and second is they will be de-motivated by this step. For instance, in India only 6% people are paying taxes and other are enjoying on that. So it will be a complete injustice to them by imposing more taxes. It is better for the government to make policies which include more person in taxable slab rather than increasing tax rates on limited personals.
As this essay argued implementing huge taxes has negative results like more money can lead government officers to misuse this fund. So it is essential for the government to decide the right amount of taxes to make equilibrium between the government income and the public's paying capacity. Although taxes, which are paid by mass, are used for public services such as roads, schools and hospitals etc. But if people are de-motivated and not happy with the policies, then it is all in vain.
This essay argued why high tax rates are not advisable and the government should come up with the right amount of tax rates for people according to their income group. It's my personal view not to overburden tax payers and always think about both sides of the coin.
Even if
taxes
are a primary source of income for the
government
,
still
"
apply high
tax
rates
or note
"
is an ongoing debate question in every country. It
is believed
by
many
people
that high
tax
rates
results in the better public service.
On the other hand
, this
idea
is opposed
by
many
residents. In this essay we will argue why higher
tax
rates
negatively
impact
general public
over the nominal
tax
rates.
In
many
countries,
people
are already paying hefty
tax
rates
, if more
tax
is imposed
on them, there will be two drawbacks
mainly
. One is, the taxpayers will feel overburdened and second is they will be
de-motivated
by this step.
For instance
, in India
only
6%
people
are paying
taxes
and other are enjoying on that.
So
it will be a complete injustice to them by imposing more
taxes
. It is better for the
government
to
make
policies which include more person in taxable slab
rather
than increasing
tax
rates
on limited personals.
As
this essay argued implementing huge
taxes
has
negative
results like more money can lead
government
officers to misuse this fund.
So
it is essential for the
government
to decide the right amount of
taxes
to
make
equilibrium between the
government
income and the public's paying capacity. Although
taxes
, which
are paid
by mass, are
used
for public services such as roads, schools and hospitals etc.
But
if
people
are
de-motivated
and not happy with the policies, then it is all in vain.
This essay argued why high
tax
rates
are not advisable and the
government
should
come
up with the right amount of
tax
rates
for
people
according to their income group. It's my personal view not to overburden
tax
payers and always
think
about both sides of the coin.