As we approach a world of financial literacy, there is an ongoing debate over whether people shold save their money instead of paying taxes to the government. While the view of not paying taxes might seem compelling, I believe that it will do more harm than good, since finances that come from taxes drive the economy.
One the one hand, proponents of not paying taxes cite various reasons for their stance. First and foremost, the globalization made our lives harder, it is more difficult to make the ends meet and the end of the month. Thus, for people who are living paycheque to paycheque paying taxes puts a financial burden on them. Moreover, an annual tax rate is gradually increasing year by year, thereby making people even more reluctant to pay them. For example, USA where Americans pay 30% of their income to taxes, which is a third of their wage. This can be compensated by high incomes, however, in developing countries people make lower wages, which means they are not able to pay high taxes.
On the other hand, others assert that if taxes are not paid, governments will not be able to fund education, healthcare, and other infrastructures. Countries with no natural resources like gold, oil, gas, and coal heavily rely on taxepayers to maintain stability in the region. If citizens stop paying taxes, people who work for governmentt sector will not receive salaries. A clear example is Japan where the major driver of the economy is taxpayers, and government is allocating those taxes effectively which can be seen in their development.
In conclusion, while I acknowledge that people are facing a lot of challenges when living in a globolized world, I still support the idea of a taxation system to sustain the growth of the economy.