Should People Pay Taxes Or Not?

The first attempt to impose an income tax on America happened during the War of 1812. Following more than two years of war, the federal government owed an incredible one hundred million dollars in debt. In order for the government to pay for this, they doubled the rates of its major source of revenue, customs duties on imports, which ended up obstructing trade and yielding less revenue than the preceding lower rates.

And to think that the Revolution began to the Tea Taxes in Boston? 

Excise taxes were enforced on goods and commodities, and housing, slaves and land were taxed during the war.  After the war ended in 1816, these taxes were repealed and as a replacement high customs duties were passed to retire the accumulated war debt. 

What is Taxable Income? 

The amount of income used to arrive at your income tax.  Taxable income is your gross income minus all your adjustments, deductions, and exemptions. 

Some specific taxes: 

Estate Taxes 

Estate tax is one of the oldest and most common types of taxation.  This is the taxation of property held by an individual at the time of death. 

The United States still uses Estate Taxes, but there has been proposals to get rid of them. 

This tax can take the form, among others, of estate tax (a tax levied on the estate before any transfers).  An estate tax is a charge upon the deceased's entire estate, despite how it is disbursed.  An alternative form of death tax is an inheritance tax (a tax levied on beneficiaries receiving property from the estate).  Taxes enforced upon death offer incentive to transfer assets before death. 

Canada no longer has Estate Taxes. 

Most of the European countries have Estate Taxes.  A good example is Great Britain, which has such high Estate Taxes that it has just about destroyed the financial well-being of most of Britain's Nobility which has been forced to sell vast Real Estate holdings over time. 

Capital Gains Taxes 

Capital Gains represent the increases in value of anything (including investments or real estate) that makes it worth more than the purchase price.  The gain may not be realized or taxed until the asset is sold. 

The taxes for capital gains generally have a lower rate than regular income to promote business or entrepreneurship during good and bad economic times. 

After knowing about all these forms of taxes we have had over time, do you think some of these are unconstitutional or do you think they are all fair?