All working adults know all too well the day when taxes are due and need to be paid. It is sometimes a source of anxiety for many and an event in the adult life that many people are not looking forward to. But this is a fact of life that we cannot escape. It is both an obligation and our sacred duty. There are a lot of beneficial opportunities when everyone pays the correct tax, for sure the benefits are endless if spent correctly:
1. Opportunity to Provide for Low-Income Families and Homeless people
Paying the correct tax will benefit low-income families and homeless people since the government will have more budget to help them get back on their feet. Part of our taxes is making sure that everyone in our society will not be left behind. It is unfortunate that some people do not have the same opportunities that we have and for a truly progressive and compassionate society, taking care of those less fortunate is a noble and necessary action.
2. Opportunity to Create Jobs
When the government has enough money collected from our taxes, it can very well create jobs that provide income to the families. If everyone in society has a steady stream of income, the economy will be stable and can have a big possibility to grow. This will, in turn, create a positive long term economic cycle that the society can enjoy. Creating jobs is essential for a healthy economy, it does not only provide a stable income but gives an individual a sense of purpose. Our taxes become more meaningful when used correctly.
3. Opportunity to Support Small and Medium Businesses
Small and medium businesses are essential to the growth of the country’s economy too. They provide jobs and opportunities in the community. Since most of these businesses are privately owned with limited funds and resources any help from the government will go a long way. There are several ways that the government can support these businesses. Through our taxes, they can get loans with low-interest rates. Our government can also create systems that will make it easier to operate and conduct their business. Business owners can also consult with tax depreciation specialists to guide them on taxation for their business.
4. Opportunity to Improved Public Health Care
Providing modern and world-class public health care should be a priority in any government. Having healthy citizens is one of the ways to develop a robust and well-rounded society. Each and everyone has the right to access the best quality healthcare that the government can provide. This is one of the opportunities when all of us pay the right tax at the right time and can make a big difference to those who need it the most. There has been a lot of emphasis on mental health and we are quite lucky people are speaking out more about it and the government seems to recognize its importance by covering and including in our health benefits.
5. Opportunity to Modernize Transportation and other Public Facilities
Our taxes can most especially useful to improve and modernize our public transportation and other facilities. There should be unhampered movement of people and goods to avoid delays that can affect supply and demand. It feels good to see where all our taxes are spent especially when you are using public facilities. It makes one feel justified that their hard-earned money was spent in the right way.
6. Opportunity to Invest in Emerging Technologies
Having enough funds to invest in technologies that can make a difference in people’s lives is a worthwhile investment. Progressive government projects include researching, supporting and investing in business startups that have unique ideas that can benefit society. It is important to use technology to improve the lives of farmers, medical workers, government offices and even the ordinary lives of the people. It is inspiring to hear stories when local scientists or farmers develop a breakthrough idea and how the government supported and invested in them to make it ready for general use.
These are just some of the opportunities if we pay the correct taxes. Overall, if spent correctly our taxes will make everyone’s life better.
Eric Reyes is a passionate thought leader having been featured in 50 distinguished online and offline platforms. His passion and knowledge in Finance and Business made him a sought after contributor providing valuable insights to his readers. You can find him reading a book and discussing current events in his spare time.