THE TAX

If I were to choose between equality and equity, I would choose depending on the scenario. For example, there are times when the world would be better off living equally but there are times when everyone should be given what they deserve. For this topic about tax, I feel it would be unjust to the wealthy man to have to pay more because he has more. I do not like the idea of extortion because that's what it would be. This process would hinder the government in the long run because what use would it be to collect more from me just because I am rich and at the end of the day I might just choose to act poor and pay less. So you use the government would definitely lose out in the long run when the rich start behaving poorly.

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Last month my company was to pay for a shipment which was about half a full vessel. When my boss learned that he would be charged for the cost of a full vessel he decided he would wait a little, get more funds and pay for a full vessel instead. But that's not even the interesting part, while he was sorting out money to pay he got offers from two other companies who wanted to import but were only having about a quarter of the cost and needed collaboration to share the taxes and payments. Now you see that a standard policy would mean that everyone importing has a particular amount to pay no matter how much they are importing.

At first, it might not look fair to the importers, but it helps to balance the books for the government. If there are 100 shipments a day, the government already knows how much is coming in without having to technically analyze the finances in that aspect. I understand there are downsides to this but I would choose stability anytime as that is what such a system would run on. If businesses were allowed to just bring in anything without an order in an already corrupt world, I bet a lot of people would pay more for less without even knowing because there are no standards to checkmate these. I just used the little important experience I know to explain why I think equality is what is needed for taxes because of the little stability I've seen it bring.

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Imagine a Nation that takes more from the rich, that nation would only lose assets and investors as individuals and businesses would not want to build more only to pay more. No investor would invest in a where they would always have to worry about making too much profit. But if everyone is taxed by a uniform percentage the rich would still pay more than the poor so why take even more from them? I've read about a lot of investors who have found ways to reduce their taxes by investing even more. These statistics may sound crazy but I've read a number of authors and rich businessmen say it a number of times. I'm yet to know the entirety of it, but if it's true, it only means the government earns more when it sets policies that promote equality in taxes.

THIS IS MY RESPONSE TO HIVE LEARNER'S PROMPT FOR WEEK 126 EPISODE 3