logo
episode-header-image
Feb 2023
20m 57s

Do We Actually Need Taxes?

Economics Explained
About this episode

Taxes are an unfortunate reality for most people living and working in the modern world, we pay them every year, we complain about them, and then we forget them until next year.  Taxes are one of the most important elements of any economy around the world. Entire societies can grow from effective taxation and crumble without it.

Up next
Aug 11
Why do We Still Need to Work?
A century ago, economist John Maynard Keynes confidently predicted that by 2030, we would only be working 15 hours a week. Yet, here we are—working harder than ever! While technology has dramatically boosted productivity, our work hours remain largely unchanged, and the prevalenc ... Show More
15m 56s
Aug 5
Do We Still Need Central Banks?
Almost every nation relies on a central bank, but the US is buzzing with talk of scrapping the Fed—the globe’s mightiest financial force! From its 1694 origins to battling today’s debt and inequality crises, we break down why central banks are crucial and what chaos could unfold ... Show More
18m 39s
Jul 21
Iran's Economic Dilemma
Iran boasts vast oil reserves, a strategic trading position, and a skilled workforce; however, sanctions and internal issues hinder its progress. From black-market oil to power outages, discover why this energy giant struggles to thrive. Can it break free from its economic troubl ... Show More
16 m
Recommended Episodes
Dec 2022
My Favorite Tax Loophole
There's a big difference between tax avoidance and tax evasion. But sometimes even avoiding taxes (legally) can feel like you're getting away with something. Today, we share some of our — and your! — favorite loopholes in the U.S. tax code. Subscribe to Planet Money+ in Apple Pod ... Show More
26m 10s
Jul 2021
Can we make the super-rich pay more tax?
Rich people are often able to pay little or no tax compared to their wealth because of the way the system works. In recent years, many have called for changes and reforms so that instead of income, wealth is also taxed. But, wealth taxes are not a new thing. Many argue that they ... Show More
23m 32s
Apr 2014
31: People and Their Taxes
It’s April and that means two things: spring and tax time! The US tax system is really, really complicated. Every time you do your taxes, you’re answering to multiple jurisdictions –– and all their laws about what you owe for what, and why. We’re taking a look at how our tax syst ... Show More
28m 56s
May 2022
Wealthy People vs. Taxes
It happens every year as tax season comes around in the US. Numerous media outlets publish excoriating investigations of wealthy corporations and individuals that, somehow, don't seem to be paying taxes. And the majority of American citizens believe the system is, in one way or a ... Show More
57m 52s
Dec 2019
400. How to Hate Taxes a Little Bit Less
Every year, Americans short the I.R.S. nearly half a trillion dollars. Most ideas to increase compliance are more stick than carrot — scary letters, audits, and penalties. But what if we gave taxpayers a chance to allocate how their money is spent, or even bribed them with a than ... Show More
42m 37s
Nov 2021
Pourquoi les paradis fiscaux sont-ils en danger ?
En cette fin du mois d'octobre 2021, les chefs d'État et de gouvernement participant au G2O, qui vient de se tenir à Rome, ont pris une décision historique. Ils ont en effet décidé d'instaurer une taxation mondiale sur les bénéfices des multinationales. La taxation des multinatio ... Show More
1m 52s
Apr 2022
34. Should We Have to Pay for Our Sins?
Taxes on alcohol and tobacco promise to make people healthier and raise public funds. But can they backfire? Bapu Jena looks at the complicated economics of sin taxes. 
26m 21s