Robert Kiyosaki, author of Rich Dad, Poor Dad books wrote, “It’s not about how much money you make. It’s about how much money you keep.” Have you ever wondered where your hard-earned tax money goes? What about that painful portion your payslip playfully describes as deductions.
Governments insist your taxes go to “essential public services.” And to be fair, they do…mostly. Roads get fixed… but only after they have to start hiring recovery trucks to pull cars out of the potholes. While somewhere, a roundabout no one asked for is being lovingly landscaped, with lane closures of course, and usually in rush hour.
A sizeable portion funds healthcare, education, defence, and public infrastructure. That means ambulances, teachers, soldiers, and the mysterious hi-vis teams responsible for those roadworks that close down traffic lanes for days before work ever starts. Your taxes also support emergency services making sure help is always available.
Then there’s administration. Governments require buildings, computers, consultants, and meetings about meetings. Reports are written, committees are formed, and subcommittees probe why the first committee needed more funding. It seems a country runs on paperwork.
A large part of your taxes fund social benefits—pensions, unemployment support, and assistance for those who need it most. That’s the serious and important bit. It’s the safety net that keeps society functioning and prevents us all from reverting to busking on street corners. If you’ve ever heard my singing you’d know that’s not going to be a profitable venture.
Then of course, there’s the slice that goes toward national debt. Think of it as the government’s version of still paying off a credit card bill from the 1980s. Interest- the gift that keeps on taking.
And yes, occasionally your taxes fund projects that leave you shouting at the television asking, “We paid for what?” But in theory, every pound is meant to keep the country ticking along—powering streetlights, maintaining parks, and ensuring there’s always at least one traffic lane coned off in every postcode.
So, while we may not see the direct benefit of our monthly donations to HMRC, just remember Stewardship Wealth is doing it’s level best to make sure you know and use all your allowances, and exemptions. Remember it’s not just income tax we help with, there are lots of planning opportunities for capital taxes like inheritance tax and capital gains tax, both of them bringing sharply increasing receipts as frozen allowances start to bite deeper. There’s always something we can help with so please let us know if you have any questions or concerns