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Revision as of 12:20, 25 August 2026


Tax, it isn't a dirty four letter word, but for many of people its connotations are far worse than any curse. It's been found that high tax rates generally relate to outstanding social services and high standards of living. Developed countries, that tax rate exceeds 40%, usually have free health care, free education, systems to care for the elderly and a more expensive life expectancy than individuals with lower tax rates.

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What is the rate? In the rate or rates enacted by Central Act almost every Assessment Year. It's varies between 10% - 30% of taxable income excluding the basic exemption limit applicable for the tax payer.

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If the $100,000 per year person didn't contribute, he'd end up $720 more in his pocket. But, having contributed, he's got $1,000 more in his IRA and $280 - rather than $720 - in his pocket. So he's got $560 ($280+$1000 less $720) more to his appoint. Wow!

I feel this undoubtedly important: when politicians corrupt the people, they eliminate their authority. It is already hard enough for a sincere population to obtain rid of corrupt politicians. It is nearly impossible for a corrupt population to go for it.

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