Wednesday, May 9, 2012

Ten things you need to know about tax | Money | The Guardian

Ten things you need to know about tax | Money | The Guardian

extracts:
  • 'Taxes are the price we pay for civilisation," US supreme court justice Oliver Wendell Holmes
  •  Philosopher Peter Singer addresses this issue in his book on American politics, The President of Good and Evil. "It makes no sense to talk of the money you would have if the government did not levy taxes," he writes. Imagine, he suggests, you're working for a car manufacturer and get $1,000 a week, $200 of which is taken in taxes. Why can't I donate that $200 to the donkey sanctuary or use it to destroy my septum with illegal drugs, professor? Well, says Singer, your car company could not make cars without a legal system that protects mining rights, private ownership of land, accepted currency, transport systems, energy production, an educated labour force, patent protection, judicial resolution of disputes, national defence, protection of trading routes
  • Nobel prize-winning economist Herbert Simon once estimated that it is such social capital ? or the social environment in a wealthy country such as the US or UK ? that enables its residents to generate 90% of its income.

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