Economic Tax Issues And Reformations

2753 Words12 Pages
Luke Korney
Ruth Benander
Intermediate English
October 17, 2014

Economic Tax Issues and Reformations

Are you aware that taxes have been around since the Ancient Egyptian, Roman, and Mesopotamian times as early as 3000 B.C.? (“Taxes in the Ancient World” U. Penn Almanac). Taxes are a crucial part of society’s economic functions as a whole. Taxes help us generate money to help build new roads, provide us with protection through services such as law enforcement, and help improve public education institutions. In other words, taxes help the United States create value for its citizens. As we all are aware, no system is perfect and there are times when our economy isn’t doing so well and also times when it’s really booming. The main subjects of discussion are: tax morale, wealth distribution and taxes, tax loopholes, off shore tax evasion, and possible reformations. What this paper analyzes and discusses is current economic issues that involve taxes and possible reformations to correct them.
Why do so many businesses and people pay their taxes? The reason businesses and people pay their taxes is because of tax morale, or the willingness to pay taxes whether they consider taxation to be morally justified or not. There are many ways people evade paying taxes, for instance the black market. The black market is an illegal trafficking or trade in officially controlled or scarce commodities (Merriam Webster). The services and commodities range from sex to drugs, to even the iPhone
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