Growing up, many of us began to hear "taxes" on a daily basis at an early age. Even if it was not at home, it would be at stores that we go to on a daily basis. Although a product has it’s own price, taxes are tacked on at the end of the purchase as well.
Many people tend to question why do taxes even exist! Mostly kids ask the latter question, but adults who know why still question its purpose.
It is actually quite simple from hindsight why taxation exists in our country. In this article we are going to briefly explain the areas of where your “extra money” is going.
Being able to utilize things such as roads/highways (including maintenance), public schools, and community colleges (just to name a few) are all things that many of us use. Keeping this in mind, these are not amenities that we would just charge individual people. There would be no absolute way possible to separate the taxes of individuals who use public/community schools and community colleges (since everyone uses the local roads and highways).
Contrary to belief, police officers and firefighters are not businesses for the sole purpose of making money. As public “servants” these professions (employees) are here to protect and serve respective communities. In order for them to assist the communities they need funding. Portions of our taxes go to these government jobs that we all need (even if we are not specifically using them ourselves every day).
Social security, Medicare/Medicaid/Children’s Health Insurance Program (CHIP), and defense (wars/army) are without question worth our taxes going towards. While there are a variety of subprograms and intricate details that could be explained here, the shortlist of it all is that none of these programs would receive the adequate funds necessary if it was simply left up to the public to make on their own.
Conspiracy theorists have long been fussed at for asserting that we owe private citizens for a large amount of the debt that our tax dollars go toward paying. These theorists are not wrong in the least, as it is true that the government is charged 5% on each dollar that is printed for use, and this money goes to some of the wealthiest individuals alive. We won't elaborate here, and many politicans that have tried to bring this truth to light aren't around long enough to ruffle many feathers. Google "the private banking industry" or "zeigeist movie" for more information and to open your eyes to where the bulk of your tax dollars (and the dollars of your children and unborn children will go).Overall these are the reasons why taxation exists in America. While many think of it as "extra money" that they could use for anything else in their own personal lives, we all actually do use this money to try and make life better for citizens.
Hopefully we helped to better explain Pay Stubs - Where Your Tax Money Goes, and it's easier for you to understand. If you ever need proof of your income or taxed amounts, you can create Virginia paystubs that show your earnings. With no software to download, no templates to fill in, and no calculations to perform, say "yes" to your instant Virginia income verification!
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