Taxation Research Paper Example | Topics and Well Written Essays - 1250 words

Taxation - Research Paper Example instituted the first regulated and sustainable tax system (Olmert, p. 41). Today tax systems have evolved to include a multitude of forms. There are taxes on income, property, and goods and services, with varying rates according to annual salary. The nature of such tax systems, while in many ways essential to the functioning of society, has raised a great degree of controversy. This essay considers the nature of the tax system in relation to whether taxes should be applied. From an overarching context, taxation is used by the state government to advance a variety of collective social needs. There are a variety of ways that taxation benefits society. One of the most prominent ways is through infrastructure that allows society to function at the most basic level. In these regards, there are a great many aspects of society that are necessary for the very simple tasks of operation. Taxation goes to pay for roads, interstates, traffic lights, and traffic signs (Xavier, p. 111). In additio n to specific infrastructure elements, taxation goes to pay for many utility and telecommunications processes. Furthermore, taxes fund the police and fire departments. These departments then ensure the safety and well being of society. Without these basic contributing elements then the very social order would disintegrate and society would not be able to function in the way that it currently does. Another way that taxation benefits society is through general social welfare and public works projects. In these regards, taxation functions as a sort of safety net for all members of society. Within this spectrum of consideration one recognizes that taxes contribute to elements including food stamp programs, welfare, unemployment, social security, and Medicare (Xavier, p. 111). This aspect of taxation is highly significant as it indicates that society is able to care for its sick and injured. This also creates the necessary elements required for general social well being. One considers th at recently President Obama implemented a universal health care system where members throughout society would be given the opportunity to opt into the health care program. While funding for this occurs from a variety of inputs, one of the fundamental contributing factors is general taxation. Ultimately, then this system ensures the health care of members of society that would otherwise not occur. In addition to these considerations, there are more abstract perspectives on taxation as a badge of the social good. This perspective considers that paying taxes marks an individual as a member of society. Adam Smith, the father of modern economics, is noted as saying, â€Å"Every tax, however, is, to the person who pays it, a badge, not of slavery, but of liberty† (Smith, p. 704). This perspective is largely entrenched in the notion of the social contract. As a political philosophy the social contract considers that an individual that operates within society does so as within the co nfines of a social contract. This involves not harming one’s neighbor, not committing crimes, and contributing to the general social good in a variety of ways. Taxes then constitute the ultimate articulation of the social contract as one is directly contributing their income and wealth to the general social good. This then is the recognition that taxes, above the direct social contributions

Governance Regulation and Ethics Essay Example | Topics and Well Written Essays - 1250 words

Governance Regulation and Ethics - Essay Example Consumer transaction the seller is well informed and consumer on the other hand are ignorant thus the need for the government to impose some form of control on consumer transactions. The governments through legalisations impose regulations which govern the business dealings and any business must be conducted with the confines of the law. Features in the movie and chapter 8 The right to know First in conducting business the business world is required to perform disclosure. This in the perspective of the consumer is the right to know. It is important so as to protect consumers from personal harm which includes economic loss and physical injury. The manufacturers are bound to disclose some information to consumers so that the consumers are able to make informed choices. The right to know is an individual right premised on the freedom of choice and freedom of contract. If a business person lies to a consumer in regard to the choice made by the consumer, then the business person denies th e consumer the freedom of choice. This in essence is a manipulation of the consumers’ decisions and thus violates their individual rights. Moral philosophers opine that an individual with all the relevant information is responsible for his decisions whether they were mistakes or not. On the other hand those who withhold relevant information to decision makers are accountable to any harm arising from such a decision made without the relevant information. Relevant information is necessary for economic interest of the decision maker. A good example is where the consumer is informed about the quality of a certain product. In this case the consumer is able to compare the quality of the various brands and at the same time bearing in mind the prices of the various brands. The consumer is able to choose a quality product at reasonable price in such a case (Woodroffe, Lowe, 2010 pp. 78-79). Regulations of quality standards- consumer health and safety The government ensures that the ec onomic rights of consumers are protected by ensuring that consumer are offered adequate and complete information as discussed above and that they are also offered reasonable contract terms. However the government may find that regulations relating to disclosure are not enough to protect the interest of the consumers, it may take further step to impose regulations on quality of products and services. The government regulations in form of quality standards include: imposing minimum educational requirement and also licensing professional suppliers, imposing the standards for the practices and procedures of all sorts in business, specifications for the services and goods, and a combination of any of the above standards of quality. The various governments attempt to ensure enforcement of the above quality standards by inspections, licensing, reviews, and approvals of final products before they are released into the market is to ensure that they are safe for the consumers. The government have imposed such quality standard on various industries which include the food industries and textile industries. Regulation of trade practices – South Africa The general rule is that under commercial law applicable in many countries and general principles of contract the seller is liable for any misrepresentation made to the consumers. However there is an exception to this