Understanding Taxation

If you like paying taxes raise your hand.  Anyone? Anyone? Bueller? With all this austerity going on around us, television news channels and some newspapers have produced various “special reports” trying to explain what it all means.  They’ve been pretty good at explaining complex macroeconomics concepts, but they never quite got to the basics in my view.  So here it is. Governments have two ways to raise money- transaction fees and confiscation.   Transaction Fees. We’re all used to paying transaction fees.  If you sell something on eBay, you...