Abu, Maria Bea Doreen C.

ECON/F/7:00-10:00

BSA 2-2

Meaning and Importance of Power of Taxation

Taxing power is the ability of the government to impose and collect taxes. States are also
allowed to impose and collect their own taxes, which is included but not limited to income taxes,
sales taxes and property taxes. It is merely a way of apportioning the cost of the government
among those who in some measure are privileged to enjoy its benefits and must bear its burdens.
It is said that taxes are what we pay for civilized society. Without taxes, the government will be
paralyzed for lack of motive power to activate and operate it. Taxes are important because they
are the lifeblood of the government and so should be calculated without necessary hindrance.
Taxation is important because of all the powers of government, that taxation is said to be the
strongest as it can be readily employed against one class of individuals in favor of another so as
to ruin one class and give unlimited wealth and property to another, if there is no implied
limitation on the uses for which such taxing power may be exercised.