1 of 20

Slide Notes

DownloadGo Live

Ss 2

Published on Nov 20, 2015

No Description

PRESENTATION OUTLINE

TAXATION :

Photo by Hkuchera

"Taxes are what we pay for a civilized society" said Oliver Wendell Holmes Jr.

Oliver is right, taxes do keep our society civilized, but the big question is - "is taxation fair for everyone?"

Photo by geishaboy500

Everyone has their own opinions about this , there is no right or wrong answer , but this question is highly spoken of everyday.

Photo by Abby Lanes

In my opinion, no I don't think taxation is fair, why? Well did you know the government gets 3x the tax money of goods sold ?

Another bad reason for taxes is the taxes reduce both demand and supply, and drive market equilibrium to a price higher without tax.

Photo by RichTatum

So, therefore, people are losing money, quality, and product.
Another reason taxes aren't fair is authorities require the buyer or seller to be LEGALLY responsible for payment of tax, which if supply is in elastic for produces, will increase the burden on producers and the buyer / seller.

Lower elasticity is when a buyer has an alternative and responds by buying new things at won't accept a higher price, therefore going out of business.

Photo by outlier*

An example of low elasticity is Cigarettes, because buyers have few options, so they primary burden would fall upon the buyers.

A subsidy shifts either the demand or supply curve to the right. For example if the supply shifts right, product demanded will increase, while the equilibrium price decreases.

Photo by Lisa568

A quota limits the amount of good that can be produced. For example if quota is greater, nothing would happen, but if quota is lower, equilibrium would be at a higher price.

Photo by kaibara87

Deadweight loss is the inefficiency caused by tax or monopoly pricing. By causing difference between pre and after tax, the government secures their share from the consumers.

Photo by jenny downing

Taxes cause many problems with the producers, and sellers, but what about the consumers ?

Photo by Abby Lanes

Many people believe taxation isn't fair because of how much the government takes out each time for their needs, so people feel left out.

Consumers also feel everyone is not taxed fairly, because the richer you are, the more you pay, and many don't find that fair at all.

Photo by Cyrus II

Some people also believe we shouldn't have taxes, but they forget to remember some of that money will benefit them in the future.

Photo by zAmb0ni

After going over everything, no I don't believe taxation is fair, and I believe everyone should have fair taxes.

Photo by Mary Vican

Nobody should pay more or less than anyone else, and I believe taxes should be low to keep people in business, and save money for everyone.

Photo by Mary Vican

Although I do believe taxes are needed to keep things civilized here, I do believe taxes should be fair at all times.

I do hope someday taxation will become more balanced and more equal to everyone, and maybe make everything a little easier for everybody.

Photo by Asja.