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Explain How Taxes Affect The Government Economic Policy

491 Words2 Pages

I believe taxes affects government economic policy today by increasing or decreasing the amount of money the government makes. The purpose of taxes is to raise revenue to fund the government. Money provided by taxation has been used by states and their functional equivalents throughout history to carry out many functions. Some of these include expenditures on economic infrastructure, military, scientific research, culture and the arts, public works, distribution, data collection and dissemination, public insurance, and the operation of government itself. The different reforms I would like to see are the lowering the taxes on basic goods and increasing it on luxury items. I also think that taxes should all be lowered overall. I also believe that all people should pay taxes related to the amount they earn. I would like to see different types of reforms such as lowering the taxes in basic goods. The reason I think that this would be a good …show more content…

I do not think that some people should pay more taxes than other people because I see no reason why some people pay more taxes than others when they are just the same in terms of income and asset ownership. If this were to be implemented there would be improved living standards. People who work and only make a little bit of money are burdened by the high taxes since they are already struggling to make ends meet.
The changes that just recommended would most likely affect the economic ability of the government to carry out its functions because the changes will help bring equality into the government and also bring functionality. Governments use different kinds of taxes and vary the tax rates. This is done to distribute the tax burden among individuals or classes of the population involved in taxable activities, such as business, or to redistribute resources between individuals or classes in the population. If this were to be implemented there would be improved living

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