A friend of mine once asked me this question: why do we have to pay a part of our income every month to the State? And why, if we are in any case left with a smaller income than is shown in office accounts, should not the salary itself be fixe..
When, about forty years ago, I was a student in the university, we used to be taught that any expenditure of the State in excess of current revenue was to be shown in the budget as a deficit and that budget deficits were injurious to the healt..
The objectives of taxation are thus about coterminous with the functions of the State. All ordinary expenditure of the State, such as is needed for the maintenance of law and order, defence etc., must be covered by tax revenue. Where the econo..