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Sample Article on How the Tax system Benefits the already Wealthy Country

The following is an article on how the tax system benefits the already wealthy in a country or a state.

Sample Article on How the Tax system Benefits the already Wealthy Country

As income and wealth concentrations have neared record heights in recent decades, taxes on the extremely affluent have not kept pace. As a result, a country’s or state’s tax law no longer follows the basic concept of ability to pay, which states that taxes should be based on a person’s ability to pay. Today’s tax law, on the other hand, flips that idea on its head by allowing the wealthiest of the wealthy to pay almost no tax on their profits. Not only are top tax rates on regular income historically low, but the ultra-rich are also stockpiling growing sums of capital income while paying little or no tax on it.

The resultant negative feedback loop weakens democracy, as the wealthy use their money to influence a country’s or state’s political system in order to distort policies in their favor, including awarding themselves even greater tax cuts. This permits economic elites to get what they want in many situations, even when the mass of the population disagree. Because most of their income is not considered “taxable income” under the tax rules, it does not appear on their annual tax returns, which is a significant tax benefit for rich households. Taxation on capital gains, or the increase in the value of assets such as stocks, real estate, or other investments, are, for example, effectively voluntary to a large extent. For example, high-wealth filers may accrue investment income every year because their investments appreciate, but they don’t owe tax on those gains until or unless they “realize” the gain, which is usually by selling the appreciated asset. Giving money to non-profit organizations has long been used by the rich to gain a tax break. Furthermore, under the new tax legislation, the amount you may deduct has been increased to 60% of your adjusted gross income, up from 50%.

One way the wealthy have taken advantage of the deduction is by establishing conservation easements. Creating a framework to manage various interests, such as a limited liability corporation, is one method to save on taxes. Portfolio assets, real estate, or a business might all be included. While it may get complicated, there may be possibilities to save money while also building a governance framework for your assets. Hence using these ways the tax system doesn’t affect the wealthy much, but can even be beneficial.

Essay on responsibilities of a good citizen

Essay on Responsibilities of a Good Citizen

Citizen is a term widely understood and used for a person who lives in any country and holding a specific identification number. That number shows that this person is belonging to this country or that country. This is a general definition of a citizen, but I was thinking something else. See, now the world is changing and this world has now become a global village, it is very easy for anyone to see or have a conversation with any person of any community of any country!

The citizen is a global citizen now, identification numbers are just one identity, one number of recognition, but when it comes to communication, humane grounds, taking care of each other then it demands a high level of patience, tolerance and open mindset to cater each other in a befitting manner. What we all need to do is to minimize the threats of racism, caste, creed and sense of superiority. The game of putting others down should be curtailed to eradication level. Being a global citizen, it is our duty to:

  1. Remain polite towards others, let us listen to the problems of others.
  2. Don’t be judgmental for it kills humanity at large. Let us think before we come to a conclusion and pass comments on others! This other could be your family member, friend, or any bypasser.
  3. Extend a helping hand towards the ones who are in need, by need I do not mean the financial need, sometimes people just need a sympathetic ear to listen to their issues and many times they are not in need of any solution, they just want to vent out the pressure they kept inside them, God knows for how long!
  4. Do interrupt whenever any insane, stupid, and mean thing comes in your radius, it could be insulting behavior, offensive comment on any social media platform or in our daily life routines, wherever you see the evil, try to nip the evil in the bud. We should be torch-bearer of positivity and goodness and not of negative or becoming a bee who chooses to sit only on garbage, be a honeybee, reach out to flowers, take nectar and turn them into honey. In short, make yourself beneficial for humanity all in sundry.

How to get a visa for any country from Pakistan

How to get a Visa for Any Country From Pakistan

Travelling is a world known mode of communication. For many travelling could be a hobby, a past time to enjoy the beauties of the nature or get themselves aloof for a time being from their busy routine lives, but for many and many travelling could be a way to earn livelihood so that they can earn enough money to feed their families.  In this search, many people dream of going to other countries, as they are of the opinion that they luck is not working in their own countries and the other countries will pour some magic on them and turn them into millionaires, overnight! This is all bluff! Believe me. The point how one could get entry into other countries is, so it is through visa. Visa is actually a permission that you are welcome in my country for this time duration and after it gets expired you should leave and you have to leave my country immediately. There are five types of visas: visitor visa, settlement visa, on medical ground visa, sports visa and business visa or work visa. Before applying to a visa, one must clear IELTS with good bands. After that one should find a trustworthy agent who could process your visa and make you able to land on other lands. Nowadays, fraud is a fashion that had nearly killed the trust of people leaving behind doubting souls! The only thing that make you fit for the visa is your reliability. The more real your documentations is, the more likely your visa will be confirmed. No need to attach fake papers. You should show what you are. There is no need of having a bank statement of 10 lac in your account, the only thing required is your account is in running, credit and debit are done through your account. Just get that bank statement and attach it with the other documents. Another myth is that only family member can sponsor the visa, but in reality, your family friends can also serve the purpose of your sponsorship. Do not get victim of hearsay, go straight to the good and trustworthy visa consultancy, and get everything that you need to know.  The consultancy fee is 25000, but it can save you lacs and even can save your life! What if you fell prey to a wrong agent, wrong information, succumbed the money and a dead shot on crossing over the border!