When Tax Takes Away Hopes With Money.

All over the conscious financial period of my life, I have been very soft-minded about the way some fraction of the wealth and income systematically channing towards the fund which government stores as their primary revenue. If I am earning a healthy living, or getting myself accustomed with "one job" to support my expenses and family members - being a pillar to their financial wellbeing with what little amount a Non-govt institution is providing. Why is that necessary for a man of "middle income status" should be equally contributed with laws regarding the tax protocols? Is it fair to be equal or not ?

Well,so many of the people I know that they have distinctive opinion as for the economic position they are holding. In this post modern society, the opportunities to grow wealth using the technology and financial stakes with "virtualized world" - the chances are unilateral to have most of the profit in a single sided way. Its truly remarkable that, the way a billionaire with $1B net worth can see wider opportunity to climb fast up the ladder and grow more assets with the already available tools that he has, the "broader stakes", "organisations", "with service providing employees in his company/quest" and having same expense as per needs.

The aristocrat class of the "capitalistic society" would like to see the "equal nature of law" as per constitution to enjoy the same scheme of tax percentage, with the calculation of wealth that they have, the same estimated revenue to provide the government. This is a real time analysed fact that the most of multi-millionaires and highly wealthy people would see such things to happen and some of the surveys do testify that.

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But,what would be there when for an individual holding a job with monthly $2000 to rely on and the expenses of renting a house costing $500, food items to buy and fundamental needs to fulfil, entertainment purpose, saving some of the spare money in the bank or financial institutions, or staking a monthly amount to a stock market or building a dream to invest a percentage into #cryptocurrency, holding them with a dream to see them pump up in price and gaining a #profit that would bring a creditable future for the family? The same income tax for every financial year and annual quota be equal and for every class of the society with the same law shouldnt be a fair policy.

At least I dont get it right and know it right. Such revenue collections through taxations arent bringing economic prosperities for a society practically. Because, when billionaire's are filling income tax files, per annum $4k-5k isnt a big deal for them to manage, but for a person relying only to a single income stream and no such big businesses running on, he would see a reduction of "saving funds" - where some of the middle income dreams start to fade away. Because, the government has taken away those dollars and with dreams also for individual future.

In U.S. society, its a perfect example of capitalistic economy, you would see fair number of billionaires with sky scrapers living on luxury cars, yachts and personal cruisers, with big corporations and asset stream high as for a single person - it gets tough to even calculate incoming and outgoing streams . But, as like as the 10% richest class holding 70-80% wealth and market capture, the remaining 90% of the population striving in to earn the monthly breads and "equal imposture of tax" is an unfair strategy.

Here is what the public opinion is divided and they have mixed reviews on what legislations should made. But, things arent fair when more and more anguish been settling for #centralized entity to function and to do so a large portion of money is getting sneaked away from individual pocket and thats not a satisfactory case for common people. I would want that to have change,in times when net wages been going through stages of "stagflation".

But, an equilibrium should be a proper option and modifications of such laws of #taxation should change eventually to see a properly balanced economic society.

Posted Using LeoFinance Alpha