In the fight for equality, discussing the creation of fair taxation systems is a necessity. In developed nations, it often seems that the middle classes bear the heaviest tax burden. Meanwhile, top earners and corporations can use tax loopholes and investment schemes to lower their tax bill. The tax discussion must start in earnest if we want to close the wealth gap and protect people on low incomes.
#Davos2019 – Taxation Is a Non-Issue
The tax discussion appears to be way down the list of priorities among business and political leaders. At the World Economic Forum in Davos, only one tax discussion took place as pointed out in thes NOW THIS video.
Poverty Is on the Rise in Developed Countries
In countries like Ireland, Britain, and America, food poverty and homelessness are on the rise. Politicians emphasize that increasing the top tax bracket is of little use. As a consequence, mid-income earners carry a disproportional share of the tax burden. Although income tax rates may appear acceptable, hidden taxes such as VAT on everyday products like fuel have a real and direct impact on the spending power of middle-income earners.
Taxes combined with low wages have driven many people from their homes or made them reliant on charities such as food banks. In the aftermath of the 2008 financial crisis, governments introduce austerity measures, curbing spending on public services. Judging from the yellow vest protests in France and beyond, creating a fair taxation system is a core necessity.
Share Your Thoughts on a Fair Taxation System
Please share your thoughts on this issue in the comment box below. What has your own experience been? Are you paying too much or not enough taxes? Is is worth raising the top tax rate? How could your government make the taxation system fairer?