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TAX NEWS - 2010

Why Should We Pay Income Tax?

Having to pay income tax makes me feel sick… really sick. It gives me a feeling that we are staying in a socialist economy. I can understand why we should pay property tax or why we should pay water tax or road tax (though I feel it is unjust to pay road tax as we also pay the toll… anyway). But income tax? what for? What service or facility am I using from the government for which my income is taxed, and that too heavily. Man!

The people who earn more are taxed more. This results in a sad situation for a person who is just above the taxing bracket. Because he ends up earning less than the person who earns just below the taxing bracket. Indirectly this means the person who is relatively poor is brought on the level terms or some times higher than the person who is relatively rich, or should I say relatively less poor? It gives me a feeling that it is a way to restore economic parity in the society. Does it not sound like a socialist ploy?

Another two idiotic taxes I hate are the VAT and the service tax. Last time I went to Pizzahut to have a pizza, I shelled out 25% more money than the list price. They bloody charged me both VAT and service tax. I was like, WTF man! The cost of the service Pizzahut provides is built in the price of their Pizza. And they are paying the stupid income tax on what they earn by selling Pizzas anyway. Then why tax the service? Is it not double taxation? And what about VAT?

Taxation is increasing the prices of commodities by as high as 30-40% in some cases. So we are shelling out more money to satisfy the same needs. I heard a debate on a news channel on rising inflation and no one talked about taxation. Dont you think taxation is contributing to the inflation as well?
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