What is your view towards income tax? Thanks.?

Answer 1

Income Tax is a progressive tax, where the rich will have to pay more. Unlike GST, a indirect tax which will affect the poor more. Singapore is increasing the GST, but lower the income Tax, this will cause the gap between the rich and the poor widen.

Answer 2

Income tax has its benefits and drawbacks like anything.

Taxes pay for our roads, hospitals, schools and parks etc.
And dont forget our OFFENSE! (Defense as it is more widely known, pardon the sarcasm, but its the truth.)

The bad thing about it is that our income tax is spent on a lot of bogus items. In australia we have almost 1/7 of all govt govt expenditure on a slush fund called "other" this is primarily the perks and other trivial costs of running government. almost 15% of a trilliong dollars is riduculous.

But as the income tax stands, my aim is to pay $1million or more in Income tax :D , this will mean my take home is well over a million :D. Bottom line you only get taxed on what you make, so its not that bad.

Answer 3

The money to provide government services has to come from somewhere - and that somewhere is the citizens, there really isn't anywhere else to get it. A progressive income tax is probably as fair as anything. But I do think that the current tax code is WAY to complicated.

Answer 4

If you want someone to pave your roads, support schools, keep the army/police running, then pay your taxes.

Answer 5

it's imperative for a nation to prosper.

but then again, only if the government officials are honest enough to give to the people what is due them can a country really prosper.

Answer 6

It's illegal.