Taxation as the Main Source of Revenue for Governments

Taxation as the Main Source of Revenue for Governments
Name
Institution
Taxation as the Main Source of Revenue for Governments
The manner many governments gather and expend their revenues greatly impacts the social and economic developments of the respective nations. According to Swank (2016), while taxation may not necessarily be the only source of revenues for the various governments, it poses as the key pillar for the collection of funds by governments across different regions. As per the International Center for Tax and development, revenues from tax account for over 80 per cent of the revenues gathered by over 50% of countries globally (Genschel & Seelkopf, 2016). Further, in every other nation, it accounts for at least 51% of the funding sources.
Background
For the last two centuries, the manner that the various governments collect revenues through taxing their citizens has raised a serious concern as a critical economic feature. Amidst their rush to develop, most nations have embarked on increasing the taxation rates on their citizens, couple with an shift in the patterns they apply, which pushes for wider bases of taxes. According to Carnahan (2015), there is a wide cross-country difference in the taxation...