Every Type of Tax Explained

Mr. Beat explains every major type of tax and reveals his favorite types of taxes at the end. I know, he didn't cover ALL of them. Also, he really did have to pay the IRS. That was no joke.

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Sources/further reading:
https://taxfoundation.org/the-three-b...
https://www.debt.org/tax/type/
https://www.nerdwallet.com/article/ta...
https://www.bloomberg.com/news/articl...
https://www.policygenius.com/taxes/ty...
https://www.businessinsider.com/how-b...
https://en.wikipedia.org/wiki/List_of...
https://www.bizjournals.com/sanjose/n...

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#taxes #government #economics

A tax is a required payment to the government. You have to pay it. If you don’t, there will be bad consequences and stuff. Now, why on earth do we have to pay taxes? So the government can pay for stuff. Now, remember, as I said in a previous video, the purpose of the government is to protect society. More specifically, to resolve conflicts, defend a society from other societies, or provide public services. That costs money, and they need to get that money from somewhere.

What are they going to do, borrow tens of trillions of dollars to pay for everything? Hahahahahahahha but yeah seriously, they do that, too.

Now remember, in a democratic society, our tax dollars should ideally go where we want them to go. Understandably, many get upset when this does not happen.
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Regardless, let’s go through all the major types of taxes that governments usually collect. And at the end of the video, I will reveal the type of taxes that I don’t mind so much.

In conclusion, there are MANY types of taxes I haven’t even mentioned, but those are the main types. But yeah, in general, there’s three types of taxes. Taxes on what you buy, taxes on what you own, and taxes on what you earn. So, what’s YOUR favorite type of tax? Or should I say, what’s the type of tax you hate the least amount? Let me know in the comments below.