The One People You Do Not Mess With
Anything they want they take. As Jay Z says in Empire State Of Mind featuring Alicia Keys: ‘and since I made it here I can make it anywhere’ Those words are so true. If you are a ‘self made’ in this part of the world you are truly MADE because your success is a true measure of how you survived the tax system which is the number one set back for any starter.
We get taxed for everything except the air we breathe, I bet you will be ten times richer than Facebook founder if you can device a meter reading filter patch or chip that we can carry which calculates how many times we inhale and exhale, pitch it to them at 10 cents per ‘air pollution-less’ inhale and you will be set for life because there just might be a mandatory law for us to wear one.
Paying your taxes is a noble thing to do if you live in any country but when it gets too much it can really be annoying. Let’s take for example what I mean by ‘too much’: You have a poor man who worked a very simple job for just above minimum wage. He worked endless hours to raise a deposit buy a house and paid all the taxes levied on him to make that purchase, he paid off the house after 30 years, he dies and bequeathed the house to his widow and children.
Any sale on that house is a cool 40-50% cut to the taxman. They call it inheritance tax but the poor man paid all the taxes thrust on him for 30 years, why take half of the only thing he left to his loved ones. So would you blame the dying man or his family for avoiding paying that tax lawfully?
To answer the question we need to ascertain that difference between avoiding paying tax legally (Tax Avoidance) and Illegally (Tax Evasion). Not working too long hours, deliberately not taking on a high paying jobs or in the case of small business owners you employ relatives to do the work for little pay so when the income tax bill arrives, it is shared across to alleviate the tax burden. These are some examples of avoiding tax which is perfectly legal but if you falsify or destroy paper work or fictitiously rearrange numbers on your account to cover footprints, it is classified as tax evasion which carries criminal charge.
As long as you desist from the latter you will be fine because you don’t have the wherewithal to fight a case with the taxman plus there’s only going to be on winner unlike the super rich who have the means to evade taxes which some of them do and get a slap on the wrist for it.
Another tax system is I do not quite get is the road and toll tax, road tax was ‘abolished’ in 1937 and replaced with Vehicle Excise Duty (same thing just different name), what this does is the charge on a vehicle to be used in government roads (infrastructure). Can someone please explain to me why I am taxed for using my vehicle on the roads that my income tax money built? Albeit this can’t be avoided but Does it make sense?
Please leave a comment to let us know what you think.
Exciting blog, great mixed music content!