The Hardest thing to Understand is the Income Tax!

Cinvalo

Cinvalo

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http://www.corruptionofrealmoney.com/education.php

We pay income income tax every year. Do you know why? The answer might be silly and obvious to you. Ofcourse we need to pay income taxes, otherwise how could our government pay for roads, social security, school, and military defence to protect the country? However, Albert Einstein once said "The hardest thing in the world to understand is he income tax". What does he means? What triggers my interest in writing about tax is because of my background as a dual citizen of two countries, Hong Kong and Australia, these two countries are very different on how they design the income tax code.
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http://www.corruptionofrealmoney.com/displayfullarticles.php?id=16#.UdGem9grqSo
 
Cinvalo said:
Of course we need to pay income taxes
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Prior to 1884 we never paid income tax. The Federal government introduced an income tax in 1916 - so it could go to war.
 
I was trying to source more information yesterday night on the origin of income tax but couldnt find much. Where do u source your info? ;)
 
Great Information. The first federal Income tax was only introduced after WWI in Australia.

I was watching a small clip in Youtube about Militon Friedman yesterday. he says if you want to see how free market works, please go to Hong Kong. It is a place with low natural resources, low taxes, but surprisingly with high economci growth...well at least in the period where this clip was filmed. When i have a deep though about it, it is so true. There are certain elements which lead to the prosperity of a place, taxation is one of them.
 
mmm....shiney! said:
The interweb - about as reliable as renovator's mates at the pub talking about the dangers of GMOs. :lol:
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Or as reliable as mmm....shiney!'s glowing opinion of Monsanto (from the Monsanto website). :lol:
 
Cinvalo said:
Great Information. The first federal Income tax was only introduced after WWI in Australia.

I was watching a small clip in Youtube about Militon Friedman yesterday. he says if you want to see how free market works, please go to Hong Kong. It is a place with low natural resources, low taxes, but surprisingly with high economci growth...well at least in the period where this clip was filmed. When i have a deep though about it, it is so true. There are certain elements which lead to the prosperity of a place, taxation is one of them.
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As far as looking for information, if I was publishing a book and had a blog, I'd be reading journal articles and published books for my background research. This may mean visits to libraries or subscriptions to journals, most of which are available online. Journal articles provide abstracts which are handy to read prior to paying an access fee. Use wikipedia etc for a quick summary, but go to their listed references and check them out firsthand yourself. Your reputation is at stake, professional research does not involve a "google" search. ;)

For example, I use the journal "Nature" in order to access information say, about GMO's.

Whereas as others, like willrocks, do their research off the back of the dunny door. :P
 
willrocks said:
mmm....shiney! said:
The interweb - about as reliable as renovator's mates at the pub talking about the dangers of GMOs. :lol:
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Or as reliable as mmm....shiney!'s glowing opinion of Monsanto (from the Monsanto website). :lol:
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OT but point of order:

"Opinions" are never reliable. It's facts that are reliable.
 
Cinvalo said:
Great Information. The first federal Income tax was only introduced after WWI in Australia.

I was watching a small clip in Youtube about Militon Friedman yesterday. he says if you want to see how free market works, please go to Hong Kong. It is a place with low natural resources, low taxes, but surprisingly with high economci growth...well at least in the period where this clip was filmed. When i have a deep though about it, it is so true. There are certain elements which lead to the prosperity of a place, taxation is one of them.
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The Henry Review has a semi-decent overview of the history of taxes including this graph showing that taxes have increased slightly since my grandfather's time.

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