The world for the big corporation goes like –
- Money Coming Up From Sales & Services
- Company Expenditure
- Tax on what’s left
However, for individuals ( Employees ), the world goes like –
- Money Coming Up From Income
- All Income TAXED
- Remaining To Spend
Although we all want to make our beloved planet a better world for all of the humanity but there are limitations to this approach. The victims themselves have laid these traps and are becoming the ultimate sufferers all by themselves yet they don’t consider it their fault and accuse the rich.
In an interview, Mr. Robert Kiyosaki said ” It’s the poor that are greedy because to be rich you have to produce something “. The world really revolves around that.
For a person producing nothing much valueable for the society, the society doesn’t return them values monetarily.
Tax was designed to simply take money from the rich and give it back to the poor but the moment it was levied, people figured out the real scenario.
If they forcefully would take money out of the rich’s pocket, the whole society goes down because they were providing value to the society and without them the was a hole so they had to cultivate the ideal conditions. The system that was once levied to circulate the money from rich to poor was now converted into something supportive.The corporation owners, industrialist and other high rank people are given tax exemptions so that they can focus on improving the quality of the product or service and this way they can better provide value to the society. Click To Tweet
On the other hand, the Government needs support. President can’t just simply run the country with their own pocket. The money has to fill in, you can better guess what can be the source? Assuming the poor class to be the ultimate victims would be not a wise approach, it’s indeed the middle class and start-up entrepreneurs that are taxed heavily because the system is designed to take the most from the one who has the capability of giving the most while ensuring their survival.
Then comes the poor class and things work a bit differently there. The way they are taxed is not complex but is questionable Click To Tweet. Even though the government and society itself is well aware of their financial conditions, still they are taxed heavily on services and goods.
Poor might not be directly taxed like the middle class ( like in some countries there is certain threshold known as the minimum income which is not subjected to taxation ) but still they have GST to hunt them down the road.
For those who have successfully managed to read it till now, there would be general picture painted on how the taxation works –
- To whom it suppress
For whom is it really ideal for
Why is it here in the first place
As far as the exemption is considered, it’s a real vast topic. There are many many legal loopholes out there to simply find a way to save oneself. Perhaps these examples would open up the mind a little bit.
- There are legal tax loopholes that help people purchase and resale properties ( real estate ) with a lower interest rate on the debt they used to buy the asset.
- Entrepreneurs who dream big quickly make their way into corporation and are exempted from tax ( it’s already explained above ).
- The ones that own multiple companies can minimize their taxation by incorporating a ” Holdings ” company business structure.
These are hundreds of legal loopholes like this, willing to be found. It becomes a person’s job to hunt down such opportunities and benefit from them.
We highly encourage to open up for some of the ways which you believe you’ve got in your knowledge in the comment section below. Let’s just spread awareness