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
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