Why We Pay Taxes ?

 Since In 1950, Individual income taxes has been the primary source of revenue for the US federal government. Taxes had been existence more than thousands of years and I think it will remain forever as long as the human being exists. Through the taxes governments playing a crucial role towards  

 

Government's charging varies in tax rates for different types of commodity or services.  Tax are collected by governments at 3 different levels, which is federal, state and local. They are all charging different rates of taxes with different level of  governments. Below are the some reason why we  have to pay taxes.,

1). Social Welfare: Social welfare and social security are one of the greatest benefits to the less privilege, some homeless people and some needy people who didn't able to pay taxes. Governments collecting the taxes from many years so that spend on the humanity. 

This types of funds used for the society or needy people. like., good education for the society, build the healthcare centers from helping the society they build the great future generation which will help the development of the country. Form the social welfare the standard of living of a society will improve.

2). Sustain Government:  Tax is the main sources of revenue to the governments. No governments can sustain without the taxes. Mostly government's uses money to its different types of govt. policy, which  help the country's people. Like., PPP Loan, other further assistance.  Governments collecting the tax from different way but you have pay taxes for sustain the  governments.

Good governance ensures that the money collected is utilized in a manner that benefits citizens of the country. This money also goes to pay public servants, police officers, members of parliaments, the postal system, and others.

3). Education: Education could be one of the most deserving recipients of tax money. Governments put a lot of importance in development of human capital and education is central in this development. Money from taxes is channeled to funding, furnishing, and maintaining the public education system.

For the development of economy education is the most important things. So the governments spending more money to develop better education systems to the future generations.

Many other's benefits are given by governments to taxpayer's. It includes any kind of services given by the governments. Like., Postal system, School and colleges, Hospitals, currently due to covid-19 governments are providing the loan assistance to business. 




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