Is our Taxation System fair?
Answers
Explanation:
The basic question of whether our tax system is fair is at the heart of many of our public debates. Discussions of whether ‘the rich’ or companies are paying their ‘fair share’ is regularly in, or underlying, the news headlines.
These are important questions. If we want to ensure that we can raise the revenues to pay for the public goods and services that we all want, we need to be able to have sensible debates about how much tax we raise, who we raise it from and how we spend it. But tax fairness is a complex issue. It’s hard to debate because people will differ in what they think is fair. There isn’t even a single concept of tax fairness – there are many, each of which would support a different tax design.
On top of this, discussing tax fairness is tricky because people have access to different information and this matters a lot in shaping their judgements.
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Answer:
Yes the system is fair with room for improvements. If anyone has better tax slab and percent I am all ears. It is indeed fair to me. And many others who were benefited from it.