Taxation

Taxation After the 2007 economic recession, it is claimed that many people have defaulted in paying their taxes due to low returns and lack of jobs. The media has focused on the issue mainly because taxation is a sensitive issue to government. Anusha Shrivastava wrote that the Federal Reserve had not done enough during the last few years to boost the economy (1). In this regard, fiscal policies must be designed to ensure maximum taxation.Advertising We will write a custom essay sample on Taxation specifically for you for only $16.05 $11/page Learn More Policies made should be in line with the state’s monetary policies. This would stimulate the economy. Brenda Cronin observed that American households had witnessed a rise in their income in the recent days (2). She however predicts that economic growth could be temporary because of financial problems in other states. Cronin argues that there is some hope among Americans that the economy might favor them. This is welcomed by the state because taxation would be enhanced. Conversely, many people are not sure whether economic growth rate will hold. Citizens argue that one-month growth rate should not be used to speculate good future. Brendan Conway argues that taxation is projected to fall because American stock market is experiencing tensions due to the on-going financial meltdown in Europe (2). The columnist argues that Dow Jones Industrial unit had already witnessed a drop of 145 points or 1.2% of its total shares. This shows that economic tension is still a threat to taxation. Many citizens would not be able to pay their taxes. The claims in the media belong to the camp of freedom and community. The columnists are discussing some of the key issues that touch on the freedom of people and their communal living. Citizens are burdened with the responsibility of paying taxes yet they are not in a position. Taxation denies people their freedom because they become slaves only to pay taxes. Theref ore, the columnists present some problems that affect people in society. Citizens are seeking freedom although it is tied to other things. Economic freedom would liberate people from poverty. Cronin argues that the state does not except the poor from taxation. The rich are taxed in the same way as the poor. This represents inequality because the state should tax the rich to feed the poor. This shows that capitalism is a problem to society. It affects the lives of citizens because it leads to domination, alienation and pauperization. The existing tax system portrays inequalities because it increases the gap between the rich and the poor. The rich pay fewer taxes while the poor are taxed heavily. Such system leads to instabilities in the community because it affects the social structure. Families continue suffering because able members are forced to work hard only to pay taxes.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first pa per with 15% OFF Learn More Karl Marx argued that the economy determines all aspects of life. In this respect, life is depended on production and distribution. Marx focused on the work that people do in order to sustain their lives. The most important aspect of life is the means of production. The means of production such as tools, raw materials and skills are the base of any society. He observed that a small group in the society controls capital. The main aim of the owners of the means of production is to maximize profits. Plato on his part observed that justice is only achieved when people pay taxes. The best in society should be allowed to rule because they are able to bring justice and order. Citizens must be governed because they are highly appetitive. This means that they can easily be corrupted by the earthly. The philosopher king is compared to gold, meaning that he/she is the best in society (Nettleship 89). Soldiers are likened to silver. They do not have t he best knowledge to run the economy but they help the philosopher king in enforcing the law. Their main role is to make sure that people conform to the set rules. Citizens are like bronze. This means that they are not much valued. Plato argued that citizens must be respected because they are taxpayers. Any government cannot do without citizens. However, Plato observed that citizens must not be given a chance to rule because they are least qualified. Karl Marx would argue that the state is the property of the ruling class. The state serves the interests of the owners of means of production (27). Marx could further observe that policies made are meant to subjugate and dominate workers. Workers are forced to pay taxes making them to work hard. The owners of the means of production benefit because workers produce more goods to earn more wages. The state makes sure that people participate in economic development by setting standards for each person. Workers do not benefit from governmen t policies, which make them to rise up to the occasion and fight for their rights. Workers will one day overthrow the ruling class, leading to socialism. Marx argued that taxation is one of the reasons that will force workers to challenge the elites in society. He further observed that introduction of technology would contribute to worker’s dissatisfaction. Profits will fall among capitalists because of competition, which will force them to adopt technology because it is easy to control. Plato on his part was against capitalism because it supports democracy. Plato was disillusioned with the way Socrates was treated by the thirty tyrants (Blackburn 35). Socrates was falsely accused of inciting the youth against the aristocrats. Socrates was finally punished by death, something that did not go down well with Plato. Plato became an opponent of democracy, suggesting that the best form of government should be based on educational qualification. The most qualified would identify ho w much each person should pay in form of taxes. Democracy is the tyranny of the multitude according to Plato. He highly discouraged democracy because it oppressed some members of society.Advertising We will write a custom essay sample on Taxation specifically for you for only $16.05 $11/page Learn More Anusha, Shrivastava. Fed’s Williams: Fiscal Policy Actions ‘Badly Needed’. Wall Street Journal, 18 Nov. 2011. Web. Nov. 2011. https://blogs.wsj.com/economics/2011/11/18/feds-williams-fiscal-policy-actions-badly-needed/?mod=WSJBlogmod=marketbeat Blackburn, Simon. Plato’s Republic: A Biography. New York: Atlantic Monthly Press, 2007. Conway, Brendan. Global Stocks Slide. Wall Street Journal, 20 Nov. 2011. Web. https://www.wsj.com/articles/SB10001424052970204531404577051842829678760 Cronin, Brenda. Uptick in household income: Trend or hiccup. Wall Street Journal, 21 Nov. 2011. Web.  https://blogs.wsj.com/economics/2011/11/21/uptick- in-household-income-trend-or-hiccup/?mod=WSJBlogmod=marketbeat Marx, Karl. A Contribution to the Critique of Political Economy. Moscow: Progress Publishers, 1977. Web.  https://www.marxists.org/ Nettleship, Richard. The Theory of Education in Platos Republic. London: Oxford, 1935.