Skip to main content

THE GAME OF MONEY(PART TWO)-WE ARE INDEBTED INTO THE GOVERNMENT.

 
Most money today is known as 'fiat money'-Fiat is a dictatorial order or decree given bu a person or group of people having complete authority. Money today is debt. Our currency today is an instrument of debt. Every is backed by an IOU(I Owe You) guaranteed to be payed by the taxpayers of our country. We are indebted into our country in form of taxes.

There are different forms of taxes, start a company and your liable to corporate tax, your are a shareholder in a company, your taxed on your dividends. your an employee you owe the government PAYE(pay as you earn). you start a small business, you need to pay licene for operating. Buy a piece of real estate and you the government property tax. It is through all these taxes and licence paymens that the masses become indebted into the government. We have to pay taxes to backup our country's debt(currency).

The bigger the country's tax base, the stronger and wealthier the nation becomes. Am not a tax activist but taxes are a neccessary evil and can lead to a country's developement if well managed. We need foreign investors in our country because all the money invested in our country is taxed and all profits made by forein investors are taxed hence increasing the country's tax base.

Every kind of work we are doing, makes us indebted into our government, your taxed on your job, your taxed on your ventures, your taxed on the property you buy. The government will always be looking for ways to tap into your pockets. The government has to collect taxes to meet its expenditures.
We have to pay for the IOU called money.

The biggest roblem is that our government is that its becoming bigger and its expanding horiontally. Too many ministers, members of parliament, advisors, councillors name it. The second issue is about corruption and mismanagement of the taxpayers' 'sweat'. Our sweat is being embezzled and ending up in the hands of few individuals. We are indebted into our government in form of tax and the government is also inbebted to us in form of servie delivery.

We accept that we are indebted into the government because its a citizen's obligation to pay taxes, but the government is also obliged to give us good services like good roads, good health facilities and make good economic policies.
If we are indebted into our government, the government thrives on our sweat, the government is also indebted into us because the government owes us good services, thats the game of money(who is indebted into whom).
-ahacols
Labels:

Comments

Post a Comment

Popular posts from this blog

Starting a Business in Ugand PART 1-COMPANY REGISTRATION

Below is a detailed summary of the bureaucratic and legal hurdles faced by entrepreneurs wishing to incorporate and register a new firm in Uganda. It examines the procedures, time and cost involved in launching a commercial or industrial firm with between 10 and 50 employees and start-up capital of 10 times the economy's per-capita gross national income. This information was collected as part of the Doing Business project , which measures and compares regulations relevant to the life cycle of a small- to medium-sized domestic business in 190 economies. The most recent round of data collection was completed in June 2016. Standardized Company Legal form: Private Limited Company Paid-in minimum capital requirement: UGX 0 City: Kampala No. Procedure Time to Complete Associated Costs 1 Submit the Name Reservation Form to the assessment window of t...
Post a Comment
ahabwecollins.blogspot.com

Make Money Online (Without Spending a Dime)

Even with no product and no website, you can get paid for what and who you know triloks/E+/Getty Images IEW ALL  By  Scott Allen Updated November 09, 2016 Making money online used to require having your own website, products to sell and some marketing savvy. However, in today's digital age, there have never been more ways to get paid for what you know and who you know, without having to be an established web designer or a marketing genius. In fact, starting an online business and building a foundation for future growth can be done in a matter of hours, as opposed to what used to take days, weeks, even months. If you have a novel business idea, a well-defined target audience in mind, and the skills to pull it off, you can make money online in countless different ways. But, it's hard to tell the difference between legitimate business ideas and the seemingly great opportunities that'll instead end up wasting valuable time. ...
Post a Comment
ahabwecollins.blogspot.com

Panama Papers: How Jersey-based oil firm avoided taxes in Uganda

Revelations from the Panama Papers show how a company based in Jersey, a British crown dependency, attempted to avoid paying $400m (£280m) in Capital Gains Tax to the Ugandan government, writes BBC Africa's Rob Wilson. In 2010, Heritage Oil and Gas Ltd realised it would be hit with a huge tax bill and started making efforts to avoid it by moving the country where the company was registered from the Bahamas to Mauritius, leaked emails obtained by the International Consortium of Investigative Journalists and shared with the BBC show. Mauritius has a double-tax agreement with Uganda, which in principle means companies pay tax in only one of the two countries. Since Mauritius does not impose any Capital Gains Tax, charged on the sale of assets, this would mean Heritage reduces its bill to zero.
Post a Comment
ahabwecollins.blogspot.com