Taxes coming and going

I used to think that taxes were just something that my parents paid, and the money would go to a bank and sit there. I also knew that there were a lot of type of taxes: income, property, sales, social security. We make money, and we pay taxes. We spend money, and we pay taxes. After storing money in the bank, our interest is taxed.

But now imagine a world with unpaved roads and no highways, not to mention your state would no longer have a congressmen or policeman.  Our taxes are used to maintain public works and pay officials. Without taxes, society would come to a stand still. We take for granted a lot of what is done to keep our cities looking nice.

Texas does not have an income tax but has a very high property tax. Different states may have different tax policies but the money is made up elsewhere. There are also federal taxes. 36% of this money goes toward military funding and salaries. The top 1% of of people (based on highest income) pay 38% of the taxes. Taxes are really a financial redistribution. Neither how much people are taxed or the redistribution are equal.  This is not to say that people who have very little should pay the same amount of taxes, but the redistribution leads to an unbalanced economy.

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5 thoughts on “Taxes coming and going

    • Imagine that you are making $1,000,000. That would categorize you as in the top 1% of American incomes. You and (approx.) 399,999 other people pay 38% of the country’s income tax. That is not a large number. It may seem big, but it is about one tenth of Houston’s population. The top 10% of the incomes cover 70% of income tax. So although they do make the most money, they are carrying the burden. These taxes go towards school for everyone and roads for everyone. The problem with lower income only paying about 3% of the taxes is that most of the money is spent on them. This is an unbalanced economy because there are many middle class citizens that are being taxed heavily and not seeing as much of the benefit as the lower class.

      • Thanks for that explanation. Here’s a question to consider: In exchange for the burden of being taxed heavily on income, do these millionaires receive tax breaks in other areas that help balance out the equation?

  1. A lot of wealthy people and corporations are finding tax breaks. This is a big problem, but it is very hard to find a way to stop. I also think that this incorporates only the very wealthiest of tax papers and not necessarily upper middle class.

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